Champions Oncology (CSBR) investor relations material

Executive summary

• Achieved $14.0 million in Q1 revenue, showing sequential growth but a slight year-over-year decline, with stability in core oncology and technology-enabled research services.

• Growth was led by the TOS business and increasing contributions from the data platform, with ongoing expansion in radiopharmaceutical services and the Corellia drug discovery subsidiary.

• Leadership transition with a new CEO, Rob Brainin, emphasizing continuity, strategic execution, and long-term growth.

• Focus on expanding data-driven platforms, SaaS, and proprietary dataset licensing, with a robust pipeline at various discovery and validation stages.

• Ongoing evaluation of strategic options for value creation and external funding for subsidiaries.

Financial highlights

• Q1 revenue was $14.0 million, flat year-over-year but up from $12.4 million in Q4, with research services contributing $13.7 million and data business providing the remainder.

• GAAP operating loss of $0.5 million and net loss attributable to common shares of $436,000, or $(0.03) per share, compared to net income of $1.3 million, or $0.10 per share, last year.

• Adjusted EBITDA was $60,000, down from $2.0 million in the prior year.

• Gross margin declined to 43% from 50% year-over-year due to higher outsourced lab costs.

• Ended Q1 with $10.3 million in cash, up $0.5 million from year-end, and remained debt-free.

Outlook and guidance

• Management anticipates sequential revenue growth and margin expansion as radiolabeling work shifts in-house and demand for proprietary data offerings increases.

• Expects cash neutrality in Q2 and cash growth in the second half of fiscal 2026, with liquidity sufficient through at least October 2026.

• Ongoing focus on expanding data licensing, SaaS, and R&D investment, with cautious optimism about improving market conditions.