Replies to post #345070 on Avid Bioservices Inc (CDMO)

[djohn]

The first one to go should be Matthew Kwietniak-Chief Commercial Officer and the entire sales crew(most of them have fancy titles like Senior Director of Sales and Business Development)
From what I see, they hang around trade shows and "expand the Avid Brand" I'm sorry but trade show are the most worthless form of Marketing known to man.
I think Nick has done a great job leading the capacity expansion. Matt was hired Oct 2021 and put together this worthless commercial team that has completely Failed. IMO

[westjtter]

I do not believe there will be any departures of top management, and I do not even think the results were a surprise to Nick and company. We just went through a very difficult time with high interest rates and a depressed market in demand for CDMO's.

I am hardly pleased with the results because I too was hoping for blow away numbers, even though I still had this niggling doubt that it may be too early for lift off! The expansion is now complete and the company has survived this downturn relatively unscathed as far as a going concern. The key to prosper in any market is to be strong enough to make it through the downturns so that when things do turn around, you have the capacity to capitalize on this increased demand for your products!

So yes, it may take some time, but I also believe that Nick's goal of running at full capacity will happen and with it the very strong margins and profits! I am prepared to give him a 2 year timeline to pull this off. So hoping for an earlier lift off, but willing to wait a little longer!