BURNING ROCK BIOTECH Reports 11.8% Year-Over-Year Revenue Increase in Q2 FY2023 with CNY 146.3 Million Earnings
September 7, 2023
☀️Earnings Overview
For the second quarter of FY2023 (ending on June 30 2023), BURNING ROCK BIOTECH ($NASDAQ:BNR) reported total revenue of CNY 146.3 million, an 11.8% year-over-year increase. Net income for the quarter was CNY -131.2 million – a substantial improvement from the previous year’s loss of -262.1 million.
Analysis
GoodWhale has completed an analysis of BURNING ROCK BIOTECH’s fundamentals and identified them as a ‘cheetah’ type of company according to Star Chart. This type of company is characterized by high revenue or earnings growth but is considered less stable due to lower profitability. Investors interested in investing in such a company may be those attracted to the potential for strong growth, despite the risk of instability. BURNING ROCK BIOTECH has an intermediate health score of 4/10, showing that it may be able to pay off debt and fund future operations. The company is strong in assets and growth, but weak in dividend and profitability. This means that investors may be able to realize high returns with some risk in the short-term, although the long-term sustainability of the company may be uncertain. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for BNR. More…
| Total Revenues | Net Income | Net Margin |
| 585.65 | -764.2 | -130.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for BNR. More…
| Operations | Investing | Financing |
| -395.52 | -32.17 | -13.78 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for BNR. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.33k | 363.15 | 9.42 |
Key Ratios Snapshot
Some of the financial key ratios for BNR are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 16.9% | – | -131.1% |
| FCF Margin | ROE | ROA |
| -79.6% | -47.7% | -36.1% |
Peers
The recent years have seen an intensification of the competition in the global cancer diagnostics market. The market is being led by a number of key players such as Burning Rock Biotech Ltd, AroCell AB, bioAffinity Technologies Inc, and Biomark Diagnostics Inc. These companies are engaged in a intense battle to gain a larger share of the pie.
– AroCell AB ($BER:80R)
AroCell AB is a Swedish biotechnology company that develops and sells cell-based products and services for research and diagnostics. The company has a market cap of 12.32M as of 2022 and a return on equity of -16.04%. AroCell’s products and services are used by researchers and clinicians to study the function of cells and to diagnose and treat diseases.
– bioAffinity Technologies Inc ($NASDAQ:BIAF)
BioAffinity Technologies Inc is a life sciences company that develops products to target and modulate biological systems. The company’s products are based on the discovery and use of natural product scaffolds that can be used to create therapeutics, diagnostics, and research tools. The company’s products include TARGET-derived therapeutics, which are small molecule drugs that target disease-related proteins; TARGET-derived diagnostics, which are used to detect the presence of disease-related proteins; and TARGET-derived research tools, which are used to study the function of disease-related proteins.
– Biomark Diagnostics Inc ($OTCPK:BMKDF)
Biomark Diagnostics Inc is a company that provides diagnostic testing services. The company has a market cap of 11.6M and a ROE of 179.57%. The company offers a wide range of services including blood tests, urine tests, and other diagnostic tests.
Summary
BURNING ROCK BIOTECH has reported their earnings for the second quarter of FY2023, showing total revenue growth of 11.8%. Net income improved significantly from the prior year, going from -262.1 million to -131.2 million. Despite this positive news, the stock price dropped that same day.
Investors should consider this when analyzing BURNING ROCK BIOTECH, as it could be a sign of future weakness in the company. Investors should also look into the company’s management and competitive landscape to determine if BURNING ROCK BIOTECH is a worthwhile investment.
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