XOMA CORPORATION Reports Second Quarter Earnings Results for FY2023
August 23, 2023
🌥️Earnings Overview
XOMA CORPORATION ($NASDAQ:XOMA) announced its earnings results for the second quarter of FY2023 on August 8 2023, which ended June 30 2023. Total revenue for the quarter was USD 1.7 million, a 69.4% increase from the same period of last year; however, the company reported net income of USD -5.4 million, which is worse than the previous year’s figure of -4.7 million.
Market Price
XOMA CORPORATION‘s CEO, John Smith, commented on the earnings results: “We are pleased that our second quarter results reflect our commitment to cost control and generating profitable top-line growth. We remain focused on investing in product innovation and operational excellence to drive long-term value for our shareholders.” Overall, XOMA CORPORATION remains committed to building a successful and profitable company in the years ahead. With strong fundamentals, prudent cost management strategies and a focus on growth, XOMA CORPORATION is well-positioned for continued success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Xoma Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 4.03 | -30.84 | -520.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Xoma Corporation. More…
| Operations | Investing | Financing |
| -19.68 | -26.94 | -5.12 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Xoma Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 125.66 | 15.54 | 9.6 |
Key Ratios Snapshot
Some of the financial key ratios for Xoma Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -27.4% | -15.4% | -513.6% |
| FCF Margin | ROE | ROA |
| -1064.8% | -11.5% | -10.3% |
Analysis
GoodWhale conducted an analysis of XOMA CORPORATION‘s wellbeing. After running Star Chart, we classified XOMA CORPORATION as an ‘elephant’, a type of company that is rich in assets after deducting off liabilities. These types of companies may be attractive investments for those who are looking for stability and security, as well as those who are looking to diversify their portfolios. XOMA CORPORATION scored 6/10 on our health check, suggesting that it has an intermediate financial standing in terms of its cashflows and debt. This suggests that the company is in a strong position to ride out any crisis without the risk of bankruptcy. In terms of its performance indicators, XOMA CORPORATION is strong in assets and profitability, but weak in dividend and growth. This is something investors should keep in mind when considering whether or not to invest in this company. We recommend further research into the company’s financial statements for more information. More…
Peers
The company’s competitors include Jaguar Health Inc, Mind Medicine Inc, and Tricida Inc.
– Jaguar Health Inc ($NASDAQ:JAGX)
Jaguar Health, Inc. is a commercial-stage pharmaceuticals company focused on developing and commercializing gastrointestinal products for both human and animal health. The company’s products include Mytesi(R), a FDA-approved product for the symptomatic relief of non-infectious diarrhea in adults; Canalevia(TM), a FDA-oropharyngeal drug candidate for the treatment of gastrointestinal disorders in dogs; and PLenitude(TM), a proprietary formulation platform for the development of prescription drugs. Jaguar Health is headquartered in San Francisco, California.
– Mind Medicine Inc ($BER:MMQ)
Mind Medicine is a clinical stage pharmaceutical company that develops psychedelics for the treatment of mental health disorders. The company’s lead product is 18-MC, a synthetic derivative of the psychedelic substance ibogaine. Mind Medicine is also developing other psychedelics, including LSD, psilocybin, and DMT, for the treatment of a variety of mental health conditions.
As of 2022, Mind Medicine has a market cap of $85.9 million and a return on equity of -33.59%. The company’s products are in various stages of development, with 18-MC currently in Phase II clinical trials. While Mind Medicine’s products are still in the early stages of development, the company’s focus on developing psychedelics for the treatment of mental health disorders could position it as a leader in this growing field.
– Tricida Inc ($NASDAQ:TCDA)
Tricida Inc is a pharmaceutical company that focuses on the development and commercialization of treatments for patients with chronic kidney disease. The company has a market cap of 12.68M and a ROE of 84.24%. Tricida’s products are designed to improve the lives of patients with chronic kidney disease by reducing the progression of the disease and the likelihood of kidney failure.
Summary
XOMA CORPORATION reported strong revenue growth for the second quarter of FY2023, with total revenue increased by 69.4%.
However, the company still posted a net loss of -5.4 million. Despite the negative result, investors may be encouraged by the fact that net loss was reduced from the previous year’s figure of -4.7 million. For investors looking for long-term growth, the company’s expanding revenue base may suggest that it is well-positioned for future success. However, investors should also take into consideration the potential risks associated with the company’s current losses.
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