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VAXX Nasdaq· Vaxxinity Inc
Earnings report Q3 2023

VAXXINITY, INC. Reports Decreased Revenue in Latest Quarter

Segments of revenue

VAXXINITY, INC. reported a decrease in revenue for the three months ended September 30, 2023, compared to the same period last year. The company did not provide a breakdown of revenue by segment in the given financial statements.

Strengths

Despite the decrease in revenue, VAXXINITY, INC. has shown strength in managing its operating expenses. The company's research and development expenses decreased from $12.47 million in the third quarter of 2022 to $7.91 million in the third quarter of 2023. This reduction in expenses indicates efficient cost management by the company. Additionally, VAXXINITY, INC. has successfully reduced its general and administrative expenses from $7.30 million in the third quarter of 2022 to $5.54 million in the third quarter of 2023. This demonstrates the company's commitment to optimizing its operational efficiency.

Challenges

The decrease in revenue for VAXXINITY, INC. raises concerns about the company's ability to generate sufficient income. The company's loss from operations for the three months ended September 30, 2023, was $13.45 million, compared to a loss of $19.77 million in the same period last year. This indicates a continued negative trend in the company's financial performance. Furthermore, VAXXINITY, INC. experienced a net loss of $46.64 million for the nine months ended September 30, 2023, compared to a net loss of $55.16 million in the same period last year. The company needs to address these challenges and find ways to increase its revenue to achieve profitability.

Noteworthy

It is worth noting that VAXXINITY, INC. did not provide any information regarding its revenue by segment in the given financial statements. This lack of transparency makes it difficult to assess the performance of specific business segments within the company. Investors and analysts may need to seek additional information to gain a comprehensive understanding of the company's revenue sources and performance.

Summary

VAXXINITY, INC. reported a decrease in revenue for the three months ended September 30, 2023. Despite this decline, the company demonstrated strength in managing its operating expenses, with reductions in both research and development expenses and general and administrative expenses. However, the company continues to face challenges in generating sufficient income, as indicated by its loss from operations and net loss for the period. The lack of revenue breakdown by segment in the financial statements limits the ability to assess the performance of specific business segments within the company. Overall, VAXXINITY, INC. needs to address its revenue challenges and work towards achieving profitability.

Source documents

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

Reference data

Company financials Q3 revenue 0
Analyst estimates Q3 EPS missed by -16.67%
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