EXCLUSIVE: Healthcare Service Provider Scorpius Projects Over 375% Sequential Increase In Q4 Revenue
Portfolio Pulse from Vandana Singh
Scorpius Holdings Inc (NYSE:SCPX) announced a preliminary Q4 2023 revenue of $3.4-$3.6 million, marking a 375% sequential increase. This growth is attributed to the completion of contract milestones, particularly in microbial facility and process development work. The company also projects a 30% reduction in operating loss, exceeding analyst expectations. With over $20 million in contract bookings last year and a current backlog of $9.3 million, Scorpius anticipates becoming cash flow positive by early 2025. The company's investments in its 40,000+ sq. ft. campus are expected to support growth with minimal additional capital expenditure.
March 07, 2024 | 1:01 pm
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Scorpius Holdings Inc announced a significant Q4 revenue increase and a reduction in operating losses, with expectations to become cash flow positive by early 2025.
The substantial sequential revenue increase and the reduction in operating losses are positive indicators of Scorpius Holdings' financial health and operational efficiency. The company's significant contract bookings and backlog, along with its strategic investments in infrastructure, suggest a strong growth trajectory. These factors are likely to positively influence investor sentiment and SCPX's stock price in the short term.
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