Biotage Full Year 2023 Earnings: Beats Expectations

Biotage (STO:BIOT) Full Year 2023 Results

Key Financial Results

• Revenue: kr1.86b (up 19% from FY 2022).
• Net income: kr246.0m (down 8.2% from FY 2022).
• Profit margin: 13% (down from 17% in FY 2022). The decrease in margin was driven by higher expenses.
• EPS: kr3.33 (down from kr4.06 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Biotage Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 53%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Life Sciences industry in Sweden.

Performance of the Swedish Life Sciences industry.

The company's shares are up 21% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 1 warning sign for Biotage you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.