Avid Bioservices Inc (CDMO)

[Preciouslife1]

“”Thank you, Tim and thank you to everybody participating today via webcast. Both the fourth quarter and 2023 full fiscal year were record setting for the company. As we achieved record high revenues during both periods and ended the fiscal year with a record high backlog of $191 million, a 25% increase over last year.

With respect to business development, bookings for the quarter and the full fiscal year as a whole was strong and our teams continue to have success bringing in new customers and winning project expansions with existing customers. In operations, our Myford expansion including our new process development capabilities are now in full operation and actively fulfilling customer requirements.

And we continue to make progress with our cell and gene therapy facility and remain on schedule to bring this building online later this year. Matt and I will provide additional details on business development and operations for the period following an overview of our fourth quarter and full-year fiscal 2023 financial results.