Celularity Announces Net Sales And Total Revenue Expectations; Expects Net Sales Of Its Biomaterial Products And Biobanking Businesses To Be In The Range Of $11.4M-$12.1M For Q4 2023 And $22.06M-$22.76M For FY23
Portfolio Pulse from Benzinga Newsdesk
Celularity Inc. (NASDAQ:CELU) expects Q4 2023 net sales of $11.4M-$12.1M and FY23 net sales of $22.06M-$22.76M for its biomaterial products and biobanking businesses, indicating triple-digit growth compared to Q4 2022 and 22.7%-26.6% growth for FY23. These figures exclude revenue from research contracts, such as the collaboration with Regeneron. The company highlights the growth as a positive sign amidst the financial challenges in the cellular medicine sector and plans to provide full revenue guidance for 2024 soon.
January 03, 2024 | 5:02 pm
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Celularity Inc. projects significant sales growth for Q4 2023 and FY23 in its biomaterial and biobanking segments, with triple-digit growth over Q4 2022 and 22.7%-26.6% for FY23, excluding other revenue sources like the Regeneron collaboration.
The projected increase in net sales for Celularity's biomaterial products and biobanking businesses suggests a positive outlook for the company's financial performance. The triple-digit growth rate compared to the previous year's quarter and the solid annual growth rate are likely to be viewed favorably by investors, potentially leading to a short-term positive impact on the stock price. The company's ability to grow despite challenges in the sector may further boost investor confidence.
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