Abcellera Biologics Inc. has released its latest financial results, showing significant growth in its key metrics. The company reported a 111% increase in revenue, reaching $233.9 million for the current period compared to $110.7 million in the previous period. Gross profit also saw a substantial rise, surging by 135% to $143.6 million from $61 million in the prior period.
Furthermore, Abcellera's net income witnessed a remarkable surge, reaching $94.6 million, marking a significant increase from the $0.2 million reported in the previous period. The company's adjusted EBITDA also saw a notable rise, climbing to $116.4 million from $40.3 million in the prior period, representing a 189% increase.
In addition to these financial successes, Abcellera also experienced growth in its operating cash flow, which reached $144.6 million, up from $67.7 million in the previous period, reflecting a 113% increase. These figures demonstrate the company's strong performance and financial health in the current period compared to the previous one. As a result of these announcements, the company's shares have moved 1.65% on the market, and are now trading at a price of $4.31. If you want to know more, read the company's complete 8-K report here.
