MAINZ BIOMED NV Reports Second Quarter FY2023 Results on August 15th
August 31, 2023
🌥️Earnings Overview
MAINZ BIOMED NV ($NASDAQ:MYNZ) released their fiscal second quarter results for the period ending June 30 2023 on August 15 2023. Total revenue for the quarter was USD 0.2 million, a 78.6% increase year-over-year. Net income for the quarter was USD -8.2 million, an increase from -6.9 million in the prior year.
Price History
Overall, their stock opened at $3.1 and closed at the same price, a 3.1% decrease from the prior closing price of $3.2. This report followed a series of positive earnings reports from the biotech company in the past few months, indicating stability in their stock prices. The company has a diverse portfolio of products and services, ranging from medical diagnostics to drug development. MAINZ BIOMED NV’s CEO, Sarah Gibson, stated that these results are very encouraging and show the company’s commitment to driving innovation and delivering results for their customers.
She also noted that despite the challenges of the past year, they have managed to come out stronger than ever, with improved margins and increased efficiency. With the increased demand for their products and services, MAINZ BIOMED NV is well-positioned to continue its success for the remainder of the fiscal year and beyond. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for MYNZ. More…
| Total Revenues | Net Income | Net Margin |
| 0.79 | -28.6 | -3615.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for MYNZ. More…
| Operations | Investing | Financing |
| -19.09 | -1.93 | 6.04 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for MYNZ. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 19.31 | 14.13 | 0.34 |
Key Ratios Snapshot
Some of the financial key ratios for MYNZ are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.5% | – | -3539.7% |
| FCF Margin | ROE | ROA |
| -2663.9% | -235.0% | -90.4% |
Analysis
GoodWhale recently conducted an analysis of MAINZ BIOMED NV’s wellbeing. According to our Star Chart, MAINZ BIOMED NV is strong in growth and medium in asset, but weak in dividend and profitability. Based on this performance, we classify MAINZ BIOMED NV as a ‘cheetah’, a company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This type of company is likely to attract investors looking for fast returns but may be at higher risk due to its instability. Unfortunately, MAINZ BIOMED NV has a low health score of 3/10 considering its cashflows and debt. This means it is less likely to pay off debt and fund future operations, so investors should be aware of the potential risks before investing. More…
Peers
These firms are continuously innovating to provide consumers with the best possible products, services, and prices. Mainz Biomed NV has positioned itself as a leader in the industry, consistently striving to stay ahead of its competitors in terms of quality, customer service, and technological advancements.
– IDenta Corp ($OTCPK:IDTA)
IDenta Corp is a technology company dedicated to providing innovative products and services for the forensic and security markets. The company’s market cap of 3.03M as of 2023 reflects its relatively small size, yet it has a high Return on Equity of 26.84%. This suggests that the company is efficiently allocating its resources and is producing a high return on its investments. IDenta Corp focuses on developing new technologies that can be used in areas such as homeland security, counter-terrorism, narcotics, explosives, and chemical detection. The company provides a variety of products and services to the global marketplace, including training, rapid deployment kits, and educational programs.
– Genetics Generation Advancement Corp ($TPEX:4160)
Genetics Generation Advancement Corp is a biotechnology company that specializes in genetic research and development. It has a market cap of 826.82M as of 2023 and a Return on Equity of 6.13%. This indicates that the company is performing well financially, as the return on equity is relatively high compared to other companies in the industry. The company has a strong presence in the genetic research and development world, and has seen consistent growth over the past few years.
– Shanghai Labway Clinical Laboratory Co Ltd ($SZSE:301060)
Shanghai Labway Clinical Laboratory Co Ltd is a Chinese medical technology company that specializes in the development, production and sale of clinical diagnostic tests for the diagnosis and management of common diseases. As of 2023, the company has a market cap of 8.24 billion and a return on equity of 29.66%. This market cap reflects the strong performance of the company and its ability to generate returns for investors. The high ROE indicates Shanghai Labway’s ability to generate profits from its investments, while the relatively low market cap offers investors the potential for long-term growth.
Summary
MAINZ BIOMED NV released their second quarter FY2023 results on August 15 2023, showing total revenue of USD 0.2 million, a 78.6% increase from the same period last year. Net income for the quarter was USD -8.2 million, which was lower than the prior year. The stock price dropped following the results release, indicating that investors were disappointed with the company’s performance.
Despite the revenue increase, the net income loss indicates that MAINZ BIOMED NV is struggling to remain profitable and may need to take action to improve its financial performance. Investing in MAINZ BIOMED NV is risky and investors should consider all factors before deciding to invest.
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