Champions Oncology, Inc. Q3 FY2026 earnings call

• Delivered record services revenue, highlighting strength of core translational oncology services platform and resilience of customer relationships. PDX bank is a differentiator, and bookings converting to revenue as customer budgets stabilize. • Operations team drove growth without material headcount additions, showing operating leverage. • Data business beginning to show momentum with a six-figure deal closed in the quarter expected to be recognized in Q4, and traction with smaller transactions. • Corellia generating attractive data well-received by potential investors, with funding discussions ongoing. • Champions is a stronger, more diversified company with multiple growth vectors and focus on maximizing shareholder value while maintaining disciplined capital allocation.

Total revenue for the quarter was $16.6 million, compared to $17 million in the prior year period, a decrease of approximately 3%. Core study revenue reached a record $16.6 million compared to $12.6 million in the year-ago period, representing growth of approximately 32%. Data revenue was not recognized this quarter compared to $4.5 million in the prior year period. Adjusted EBITDA was positive for the third consecutive quarter at $575,000, while the gap loss from operations per quarter was approximately $275,000. Cost of sales was $8.8 million compared to $6.6 million in the prior year period, resulting in a gross margin of 47% compared to 61% last year. Operating expenses were $7.2 million compared to $5.3 million in the prior year period, driven by investments in strategic priorities.

• Remain on track for full-year revenue growth and full-year positive adjusted EBITDA while continuing to invest in data business and Corellia. • Data business had a six-figure deal closed in the quarter expected to be recognized in Q4, and incremental revenue expected from the large data deal announced in Q3 of fiscal 25. • Funding for Corellia is ongoing but no specific timeline as processes take time in current biotech funding environment.

Thank you. At this time, we will be conducting a question and answer session. If you would like to ask a question, please press star 1 on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. Once again, that is star one if you wish to ask a question. Please hold while we poll for questions. And once again, that will be star one on your phone at this time. if you wish to ask a question. And there were no questions currently from the lines. I will now hand the call back to Rob Brennan for closing remarks. Yeah, thank you all for listening in today. Like we said, we're pleased with the progress we're making. Look forward to sharing with you another update in July to give you an update on that continued progress. Have a wonderful day. Thank you. This does conclude today's conference. You may disconnect your lines at this time. Thank you for your participation.