Champions Oncology Swings to $279,000 Loss in Q3 FY2026 as Costs Climb

Champions Oncology, Inc., a preclinical oncology services company, reported a net loss of $279,000 for the three months ended January 31, 2026, a sharp reversal from net income of $4.5 million in the same quarter a year earlier. The company posted a loss per share of $0.02 compared to earnings of $0.31 per diluted share in the prior-year period. Read more earnings reports.

Revenue for the quarter declined 3% to $16.6 million from $17.0 million in the three months ended January 31, 2025. For the nine months ended January 31, 2026, revenue rose 2% to $45.6 million from $44.6 million in the year-earlier period. Cost of goods sold increased to $8.8 million from $6.6 million in the prior-year quarter, a 34% jump.

Operating income swung to a loss of $276,000 from a profit of $4.5 million in the year-earlier quarter. Research and development expenses climbed 32% to $2.3 million from $1.7 million. For the nine-month period, the company reported an operating loss of $618,000 compared to operating income of $6.6 million a year earlier.

Cash and cash equivalents stood at $7.1 million as of January 31, 2026, down from $9.8 million at the end of the fiscal year in April 2025. The company burned through $2.5 million in cash from operations during the nine-month period, compared to generating $518,000 in the prior-year period.

Total assets declined to $28.4 million as of January 31, 2026, from $32.3 million at the end of the last fiscal year. Accounts receivable increased to $12.1 million from $11.2 million over the same period. Current liabilities fell to $20.7 million from $23.9 million.

Stockholders' equity rose to $4.3 million from $3.8 million at fiscal year-end. The company had 13.9 million shares outstanding as of January 31, 2026, up from 13.8 million at the end of April 2025. The accumulated deficit widened to $80.4 million from $79.9 million.

Financial Summary

Balance Sheet Highlights