AADI Nasdaq· Aadi Bioscience Inc.
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AADI Nasdaq· Aadi Bioscience Inc.
Earnings report Q3 2023

AADI Bioscience Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

AADI Bioscience, Inc. reported total revenue of $5.96 million for the three months ended September 30, 2023, representing a significant increase from $4.25 million in the same period last year. The company's revenue growth was primarily driven by product sales, which amounted to $5.96 million in the latest quarter, compared to $4.25 million in the prior year quarter. This represents a robust growth of approximately 40% year-over-year.


AADI Bioscience demonstrated strong revenue growth in the latest quarter, primarily due to increased product sales. The company's management attributed this growth to successful product launches and increased market demand for their offerings. The significant increase in revenue reflects the company's ability to effectively capture market share and generate sales growth. Additionally, the company's focus on research and development has allowed them to develop innovative products that meet customer needs, further contributing to their revenue growth.


Despite the positive revenue growth, AADI Bioscience reported a loss from operations of $17.85 million for the three months ended September 30, 2023. This represents a wider loss compared to the same period last year, where the loss from operations was $15.04 million. The increase in operating expenses, particularly in selling, general and administrative costs, as well as research and development expenses, contributed to the larger loss. The company's management acknowledged the need to manage expenses effectively to improve profitability.


AADI Bioscience's cash and cash equivalents increased significantly from $39.02 million as of December 31, 2022, to $68.80 million as of September 30, 2023. This increase in cash position provides the company with a strong financial foundation and the ability to invest in future growth opportunities. Additionally, the company's short-term investments decreased from $133.54 million to $50.53 million during the same period, indicating a shift in the company's investment strategy.


AADI Bioscience delivered strong revenue growth in the latest quarter, driven by increased product sales. The company's ability to successfully launch new products and meet market demand has contributed to their revenue growth. However, the company reported a wider loss from operations, primarily due to increased operating expenses. AADI Bioscience's strong cash position provides them with financial stability and flexibility for future growth initiatives. Moving forward, the company should focus on managing expenses effectively to improve profitability and ensure sustainable growth.

Source documents

Form 10-Q  filed on Nov 08, 2023
46 pages scanned

Reference data

Company financials Q3 revenue 6.3M
Analyst estimates Q3 EPS missed by -17.81%
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