Champions Oncology, Inc.

Revenue was $15.2 million, up approximately 9% from $14 million in the first quarter of fiscal 2026. Gross margin was 50%, versus 43% in Q1 fiscal 2026, and oncology services margin improved to 51% from 43%. Adjusted EBITDA was $671,000, compared with $59,000 a year ago, and GAAP net loss was approximately $426,000 versus a net loss from operations of $527,000 in the prior-year quarter. Cash used in the quarter was approximately $500,000; the company ended with approximately $4.4 million of cash and no debt. No explicit next-quarter or full-year financial guidance was given, but management said the quarter supports continued revenue growth, margin expansion, and profitability improvement through fiscal 2027.

Rob Brainin framed fiscal 2026 as an investment year and said Q1 fiscal 2027 is evidence those investments are beginning to translate into revenue, margin, and data progress. He highlighted healthy demand in translational oncology services, strong momentum in data licensing, and said the company’s proprietary, clinically annotated patient-derived data is increasingly important as sponsors use AI and machine learning in drug development. On Corellia, he said conversations with venture groups and pharma partners are ongoing and the data package is strengthening the case, but he would not give a timeline.

David Miller emphasized the quarter’s operating leverage: revenue rose to $15.2 million, adjusted EBITDA increased to $671,000, and oncology services margin improved to 51% from 43%. He pointed to a roughly $500,000 decline in cost of oncology revenue to $7.5 million, driven mainly by lower third-party radiolabeling costs as those capabilities are brought in-house. He also noted R&D was $1.9 million, sales and marketing was $3 million versus $1.8 million a year ago due to deliberate commercial investment, G&A was about $2.1 million, and cash ended at approximately $4.4 million with no debt after about $500,000 of cash usage.

There were no analyst questions on the call, so no Q&A discussion or management rebuttals were provided. The closest thing to a forward-looking discussion was management’s commentary that contract conversion remained strong, data revenue will likely remain lumpy because contracts close on their own timelines, and Corellia’s funding/licensing process has no set date.