Similar companies
Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 2.3M | 14.2% |
| Gross Profit | -21M | 12% |
| Cost of Revenue | 23M | 12.3% |
| Operating expense | 100M | 18.7% |
| Net Income | -80M | 13.6% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 1.64B | 21.8% |
| Total Liabilities | 137M | 8.7% |
| Total Equity | 1.5B | 23.1% |
| Shares Outstanding | 119M | 8.8% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | -66M | 0.9% |
| Cash from investing | -482M | 75.5% |
| Cash from financing | 342M | 23.3% |
EPS
Financial Highlights for Avidity Biosciences in Q3 '24
Avidity Biosciences reported a revenue of 2.3M, which is a 14.2% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at -21M, marking a -12% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 23M, a 12.3% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 100M, showing a 18.7% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -80M, showing a -13.6% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
Avidity Biosciences faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. Higher operating expenses might indicate increased investments or potential inefficiencies.
