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1. Company Snapshot

1.a. Company Description

Champions Oncology, Inc.develops and sells technology solutions and products to personalize the development and use of oncology drugs in the United States.Its Tumorgraft Technology Platform is an approach to personalizing cancer care based upon the implantation of human tumors in immune-deficient mice.


The company, through its Tumorgraft Technology Platform, provides personalized cancer care based upon the implantation of human tumors in immune-deficient mice.It also offers Translational Oncology Solutions that utilizes its technology platform to assist pharmaceutical and biotechnology companies with their drug development process.The company provides Lumin Bioinformatics, a software platform and data tool that contains comprehensive information derived from research services and clinical studies, and sold on an annual subscriptions basis.


The company markets its products through internet, word of mouth, and sales force to patients and physicians.The company was formerly known as Champions Biotechnology, Inc.and changed its name to Champions Oncology, Inc.


in April 2011.Champions Oncology, Inc.was incorporated in 1985 and is headquartered in Hackensack, New Jersey.

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1.b. Last Insights on CSBR

Champions Oncology's recent performance was driven by strong revenue growth, with Q2 2025 revenue increasing 17% to $13.5 million and Q3 2025 revenue expected to be reported after market close on March 11, 2025. The company's gross margin expanded to 45% in Q2, and adjusted EBITDA reached $1.1 million. Champions also enhanced its clinical bioanalytical services portfolio with new technology and leadership, and announced 17 abstracts accepted for presentation at the 2025 American Association for Cancer Research Annual Meeting. The company's operating efficiencies and growth strategy have positioned it for continued sales growth, with a 10% CAGR expected to 2026.

1.c. Company Highlights

2. Champions Oncology's Q1 2026 Earnings: A Strategic Rebound

Champions Oncology reported $14 million in revenue for Q1 2026, rebounding from $12.4 million in Q4, driven by growth in its TOS business and emerging data platform. Revenue remained flat YoY, with research services contributing $13.7 million and data sales $300,000. Adjusted EBITDA was slightly positive at $60,000, down from $2 million in Q1 2025. EPS came out at $0.02, beating estimates of -$0.01. Gross margin declined to 43% from 50% YoY, impacted by outsourced lab costs.

Publication Date: Sep -18

📋 Highlights
  • Revenue Growth:: Q1 2026 revenue rose to $14M, up from $12.4M in Q4, driven by TOS and data platform expansion.
  • Adjusted EBITDA Decline:: Adjusted EBITDA fell to $60K (vs. $2M YoY) due to $0.5M GAAP operating losses, primarily noncash expenses.
  • Data Business Momentum:: Data sales grew for 3 consecutive quarters, contributing $300K to revenue with high-margin potential.
  • Margin Pressure & Outlook:: Gross margin dipped to 43% (from 50% YoY) but expects improvement via in-house radio labeling and cost discipline.
  • Liquidity & Strategic Focus:: Cash reserves climbed to $10.3M, with $0.6M positive operating cash flow, supporting TOS/radiopharma expansion and Corellia drug discovery initiatives.

Financial Performance

The company's financial performance was marked by a slight increase in operating expenses, which rose $1 million, with R&D and sales/marketing investments supporting the high-margin data business. Cash reserves increased to $10.3 million, with positive operating cash flow of $0.6 million. The company's cash position and disciplined cost management are expected to drive future growth.

Strategic Initiatives

Rob Brainin, CEO, emphasized strategic focus on TOS, radiopharma expansion (with 30+ PDX models and integrated workflows), and data platform growth, leveraging AI/ML opportunities. Corellia, the drug discovery subsidiary, showed promising data but faces biotech funding challenges. Management anticipates sequential revenue growth, margin expansion, and stronger cash flow in H2 2026.

Valuation and Outlook

With a P/S Ratio of 2.15 and an EV/EBITDA of 24.98, the market seems to have priced in moderate growth expectations. However, with anticipated revenue growth and margin expansion, there is potential for upside. Analysts estimate next year's revenue growth at 5.8%. The company's debt-free status and positive ROIC (27.05%) and ROE (87.06%) indicate a strong potential for long-term value creation.

3. NewsRoom

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Champions Oncology, Inc. (CSBR) Q1 2026 Earnings Call Transcript

Sep -15

Source: seekingalpha.com

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CORRECTION: Champions Oncology Reports Quarterly Revenue of $14.0 Million

Sep -15

Source: accessnewswire.com

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Champions Oncology to Announce First Quarter Financial Results on Monday, September 15, 2025

Sep -10

Source: accessnewswire.com

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Champions Oncology (CSBR) Q4 2025 Earnings Call Transcript

Jul -25

Source: seekingalpha.com

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Champions Oncology Reports Record Annual Revenue of $57 Million

Jul -23

Source: accessnewswire.com

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Champions Oncology to Announce Fourth Quarter and Year-End Financial Results on Wednesday, July 23, 2025

Jul -21

Source: accessnewswire.com

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Champions Oncology Announces Appointment of New CEO

Jul -18

Source: accessnewswire.com

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Champions Oncology Launches Radiopharmaceutical Services Platform, Expands Isotope License, and Screens More Than 30 PDX Models

Jul -08

Source: accessnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.00%)

6. Segments

Pharmacology Services

Expected Growth: 3%

Champions Oncology's Pharmacology Services growth is driven by increasing demand for personalized medicine, advancements in precision oncology, and rising adoption of biomarker-based drug development. Additionally, growing need for targeted therapies, expanding oncology pipeline, and strategic partnerships are contributing to the segment's growth.

Other Translational Oncology Solutions

Expected Growth: 3%

Champions Oncology's Other Translational Oncology Solutions segment growth is driven by increasing adoption of personalized medicine, rising demand for biomarker-based cancer diagnostics, and strategic partnerships with pharmaceutical companies to accelerate drug development. Additionally, advancements in immuno-oncology and targeted therapies are fueling growth in this segment.

Personalized Oncology Services

Expected Growth: 3%

Champions Oncology's Personalized Oncology Services growth is driven by increasing demand for precision medicine, advancements in genomics and immunotherapy, and a growing need for personalized treatment options. Additionally, the company's unique tumorgraft platform and comprehensive biomarker testing capabilities position it for continued growth.

7. Detailed Products

TumorGraft

A platform that develops and banks patient-derived xenograft (PDX) models from various types of cancer, allowing for personalized cancer treatment and research

AngioPred

A predictive analytics platform that uses artificial intelligence and machine learning to identify biomarkers for angiogenesis, a key factor in cancer progression

Champions TumorGraft Platform

A comprehensive platform that provides a suite of services, including PDX model development, biomarker discovery, and personalized medicine solutions

Personalized Oncology Solutions

A range of services that provide personalized cancer treatment plans, including biomarker analysis, genomic profiling, and PDX modeling

8. Champions Oncology, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Champions Oncology, Inc. has a moderate threat of substitutes due to the availability of alternative cancer treatment options, but the company's unique approach to personalized oncology and its strong research and development capabilities mitigate this threat.

Bargaining Power Of Customers

Champions Oncology, Inc. has a low bargaining power of customers due to the specialized nature of its services and the lack of alternative providers, giving the company significant pricing power.

Bargaining Power Of Suppliers

Champions Oncology, Inc. has a moderate bargaining power of suppliers due to the availability of multiple suppliers for its research and development activities, but the company's reliance on a few key suppliers for certain materials and services limits its negotiating power.

Threat Of New Entrants

Champions Oncology, Inc. has a low threat of new entrants due to the high barriers to entry in the personalized oncology market, including the need for significant research and development investments and regulatory approvals.

Intensity Of Rivalry

Champions Oncology, Inc. operates in a highly competitive market with several established players, leading to a high intensity of rivalry, but the company's unique approach and strong research and development capabilities help it to differentiate itself from competitors.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 64.97%
Debt Cost 3.95%
Equity Weight 35.03%
Equity Cost 5.92%
WACC 4.64%
Leverage 185.48%

11. Quality Control: Champions Oncology, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Dianthus Therapeutics

A-Score: 4.6/10

Value: 6.4

Growth: 6.0

Quality: 5.0

Yield: 0.0

Momentum: 8.5

Volatility: 1.7

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Tarsus Pharmaceuticals

A-Score: 4.5/10

Value: 6.4

Growth: 3.2

Quality: 5.2

Yield: 0.0

Momentum: 9.0

Volatility: 3.3

1-Year Total Return ->

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Champions Oncology

A-Score: 4.5/10

Value: 2.7

Growth: 7.0

Quality: 6.2

Yield: 0.0

Momentum: 9.5

Volatility: 1.7

1-Year Total Return ->

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Kymera Therapeutics

A-Score: 3.8/10

Value: 6.4

Growth: 3.1

Quality: 4.9

Yield: 0.0

Momentum: 6.5

Volatility: 2.0

1-Year Total Return ->

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Oncternal Therapeutics

A-Score: 3.1/10

Value: 9.2

Growth: 4.3

Quality: 3.3

Yield: 0.0

Momentum: 0.5

Volatility: 1.3

1-Year Total Return ->

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TScan Therapeutics

A-Score: 2.7/10

Value: 7.2

Growth: 4.2

Quality: 4.4

Yield: 0.0

Momentum: 0.0

Volatility: 0.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

6.04$

Current Price

6.04$

Potential

-0.00%

Expected Cash-Flows