AbCellera Biologics Reports 264% Revenue Growth

By Bobby Samwell • Wednesday, September 10 15:39 • Permanent Link

Abcellera Biologics Inc. has released its financial results for the quarter ending June 30, 2021. The company reported total revenues of $203.5 million, representing a significant increase of 264% compared to the same period last year.

The net income for the quarter was $93.6 million, demonstrating a substantial growth of 451% from the previous year. Additionally, the adjusted EBITDA was reported at $126.2 million, marking a significant increase of 312% year-over-year.

Abcellera's cash and cash equivalents stood at $1.1 billion as of June 30, 2021, showcasing a notable rise from the previous period.

The company's CEO, Carl Hansen, highlighted the strong financial performance, citing the robust revenue growth and the successful execution of their business strategy. The market has reacted to these announcements by moving the company's shares 1.65% to a price of $4.31. For the full picture, make sure to review AbCellera Biologics's 8-K report.

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