Champions Oncology, Inc. (CSBR) Q2 2026 Financial Results Summary
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Champions Oncology, Inc. (CSBR) Q2 2026 Financial Results Summary
Champions Oncology, Inc. (NASDAQ: CSBR) released its financial results for the second quarter of fiscal 2026 on December 15, 2025. Below is a summary of the key financial metrics and highlights from the report.
Second Quarter Financial Highlights:
- Total Revenue: Increased by 11% to $15.0 million compared to $13.5 million in Q2 2025.
- Oncology Services Profit: Margins improved to 52%, contributing to a profit of $7.8 million.
- Net Income: Reported at $237,000 for the quarter, a decrease from $728,000 in Q2 2025.
- Adjusted EBITDA: Recorded at $843,000, down from $1.1 million in the previous year.
- Cost of Oncology Revenue: Decreased by 2.2% to $7.3 million compared to $7.4 million in Q2 2025.
- Operating Expenses: Totaled $14.9 million, an increase of 16.4% from $12.8 million in Q2 2025.
First Half Fiscal 2026 Highlights:
- Total Revenue: Increased by 5.4% to $29.0 million from $27.6 million in the same period last year.
- Oncology Services Profit: Remained stable at $13.8 million with a margin of 47%, unchanged from the previous year.
- Net Loss: Recorded at $230,000, compared to a net income of $2.1 million in H1 2025.
- Adjusted EBITDA: Decreased to $962,000 from $3.2 million in H1 2025.
- Cost of Oncology Services: Increased by 5.2% to $15.3 million, stemming from higher costs associated with mice and outsourced lab services.
Detailed Expense Metrics:
- Research and Development Expenses:
- Q2: Increased by 54.9% to $2.6 million from $1.7 million in Q2 2025.
- H1: Increased by 49.5% to $4.7 million compared to $3.1 million in H1 2025.
- Sales and Marketing Expenses:
- Q2: Increased by 14.1% to $2.0 million from $1.8 million in Q2 2025.
- H1: Increased by 12.3% to $3.9 million compared to $3.4 million in H1 2025.
- General and Administrative Expenses:
- Q2: Increased by 57.4% to $3.0 million from $1.9 million in Q2 2025.
- H1: Increased by 25.5% to $5.5 million compared to $4.4 million in H1 2025.
Other Financial Insights:
- Net Cash Used in Operating Activities: Approximately $1.9 million in Q2, driven primarily by increases in accounts receivable and decreases in deferred revenue.
- Cash Reserves: Ended the quarter with approximately $8.5 million in cash and no debt.
- Quarterly Dividend: No dividend was declared during this period.
- Share Repurchase: There were no announcements regarding share repurchases.
Management Commentary:
- CEO Robert Brainin expressed confidence in the company’s trajectory towards sustainable growth, citing improved bookings and a cautiously optimistic outlook on the pharmaceutical and biotech funding environment.
- CFO David Miller noted that the company’s ongoing investments in their data platform and business development would enhance long-term growth.
Conclusion:
Champions Oncology’s Q2 2026 results demonstrate a mix of growth in revenue and services, with increases in operating expenses and R&D investments. Despite the reported net income decline and lower adjusted EBITDA, the leadership remains optimistic about future profitability as market conditions improve.
Full details of the financial results are available in the Company’s Form 10-Q filed on December 15, 2025.
Unaudited Condensed Consolidated Statements of Operations (unaudited)
(Dollars in thousands)
| Three Months Ended | Six Months Ended | |||
|---|---|---|---|---|
| October 31, 2025 | October 31, 2024 | October 31, 2025 | October 31, 2024 | |
| Oncology revenue | $15,035 | $13,489 | $29,030 | $27,550 |
| Cost of oncology revenue | $7,262 | $7,428 | $15,257 | $14,500 |
| Research and development | $2,616 | $1,689 | $4,698 | $3,143 |
| Sales and marketing | $1,998 | $1,751 | $3,853 | $3,430 |
| General and administrative | $2,974 | $1,889 | $5,544 | $4,416 |
| Loss on disposal of equipment | $— | $— | $20 | $— |
| Income (loss) from operations | $185 | $732 | -$342 | $2,061 |
| Other income, net | $70 | $7 | $145 | $11 |
| Income (loss) before provision for income taxes | $255 | $739 | -$197 | $2,072 |
| Provision for income taxes | $18 | $11 | $33 | $31 |
| Net income (loss) | $237 | $728 | -$230 | $2,041 |
| Less: net loss attributable to | $31 | $— | $61 | $— |
| noncontrolling interest | ||||
| Net income (loss) attributable to | $268 | $728 | -$169 | $2,041 |
| Company’s common shares | ||||
| Net income (loss) per common share | ||||
| outstanding | ||||
| basic | $0.02 | $0.05 | -$0.01 | $0.15 |
| and diluted | $0.02 | $0.05 | -$0.01 | $0.15 |
| Weighted average common shares | ||||
| outstanding | ||||
| basic | 13,791,913 | 13,593,766 | 13,758,715 | 13,593,766 |
| and diluted | 14,457,837 | 14,016,953 | 13,758,715 | 14,029,666 |
Condensed Consolidated Balance Sheets
(Dollars in thousands)
| October 31, 2025 | April 30, 2025 | |
|---|---|---|
| -unaudited | ||
| Cash and cash equivalents | $8,516 | $9,785 |
| Accounts receivable, net | $11,539 | $11,204 |
| Other current assets | $1,277 | $1,369 |
| Total current assets | $21,332 | $22,358 |
| Operating lease right-of-use assets, net | $4,348 | $5,080 |
| Property and equipment, net | $3,951 | $4,375 |
| Other long term assets | $196 | $196 |
| Goodwill | $335 | $335 |
| Total assets | $30,162 | $32,344 |
| Accounts payable and accrued liabilities | $8,181 | $6,804 |
| Current portion of operating lease liabilities | $1,525 | $1,471 |
| Other current liabilities | $97 | $135 |
| Deferred revenue | $12,338 | $15,443 |
| Total current liabilities | $22,141 | $23,853 |
| Non-current operating lease liabilities | $3,744 | $4,634 |
| Other Non-current Liability | $46 | $85 |
| Total liabilities | $25,931 | $28,572 |
| Total stockholders’ equity attributable | $4,170 | $3,772 |
| to Champions Oncology, Inc. | ||
| Noncontrolling interest | $61 | $— |
| Total stockholders’ equity | $4,231 | $3,772 |
| Total liabilities and stockholders’ equity | $30,162 | $32,344 |