Release Date: July 29, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Can you provide an update on the milestones and their impact on financials, particularly regarding the structured AI lab deal with licensee? A: Jennifer Bath, CEO: The early access rollout has begun to generate initial revenues, particularly with one partner using the LENSai API. This is a phased approach, and we expect more significant revenues as the program progresses. The marketing push for LENSai API has ramped up, and we anticipate subscription model revenues to start rolling in around Q2 of fiscal 2025.
Q: What challenges did you face with the BioStrand acquisition, and how do you plan to earn a return on that investment? A: Jennifer Bath, CEO: The integration of BioStrand into the antibody discovery space took longer than expected. We faced challenges in balancing investments between data management and the LENSai BioIntelligence suite. However, we now have over 80 applications built for drug discovery, validated in the lab, and are seeing increasing traction and revenue from BioStrand.
Q: How have conversations with potential partners changed since completing end-to-end programs using LENSai? A: Jennifer Bath, CEO: The successful use of LENSai in silico programs has positively impacted conversations with partners, proving the technology's legitimacy. This has transformed our ability to provide evidence and demonstrate capabilities, leading to more rapid buy-in, especially from technology companies.
Q: Regarding revenue growth guidance for fiscal 2025, what are the expectations, and how sustainable is the growth from expanded facilities in the Netherlands? A: Jennifer Bath, CEO: We expect sustainable growth driven by expanded capabilities in the Netherlands, particularly in antibody development and B-Cell technology. Our market intelligence indicates low-double-digit growth, but we are outperforming peers due to vendor consolidation and our reputation for excellence.
Q: Given the challenging market conditions and funding needs, are there considerations for strategic alternatives to realize value? A: Jennifer Bath, CEO: While open to maximizing shareholder value, we believe our current valuation does not reflect our opportunities. We are not interested in giving away the upside from our investments and remain focused on executing our strategy to unlock the true value of IPA.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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