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Call sheet · Q1'27

Champions Oncology (CSBR)

Q1'27 earnings call · held September 10, 2026 · compared with the Q4'26 call · management-credibility review
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Disclosure score
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Financial quality
Bottom line
The quarter validates improved direct economics, not yet self-funding growth. The strongest evidence is higher pharmacology revenue alongside lower direct costs; the weakest link is conversion of that progress into GAAP earnings and cash after commercial investment. A firmer investment case requires collection of unbilled work and repeatable licensing contributions-not merely another positive adjusted-EBITDA quarter. [3][4]

What changed this quarter

MetricQ4'26Q1'27Change
Revenue$13.995 million, Q1 FY2026$15.232 million, Q1 FY2027Growth of 8.8%; data licensing supplied 47.0% of the dollar increase. [4]
GAAP net income and basic EPSNet loss $466,000; EPS $(0.03)Net loss $426,000; EPS $(0.03)Loss narrowed $40,000; rounded EPS was unchanged. [3]
Management-adjusted EBITDA$59,000$671,000Increased $612,000, including a $558,000 increase in the stock-compensation add-back. [3]
Operating cash flow$600,000 provided, Q1 FY2026$492,000 used, Q1 FY2027Quarterly cash conversion deteriorated despite better adjusted EBITDA. [4]
Cash and net receivablesApril 30, 2026: cash $4.872 million; receivables $13.178 millionJuly 31, 2026: cash $4.358 million; receivables $13.602 millionSequential comparisons, not year-over-year collection metrics. [4]

Accountability tracked

3 prior promises scored
Inside the full report
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