Argos Therapeutics, Inc. :ARGS-US: Earnings Analysis: Q2, 2017 By the Numbers : August 24, 2017

Argos Therapeutics, Inc. reports financial results for the quarter ended June 30, 2017.

We analyze the earnings along side the following peers of Argos Therapeutics, Inc. – Hemispherx Biopharma, Inc., Amgen Inc., Celldex Therapeutics, Inc., Fortress Biotech, Inc., Pfizer Inc., Chemocentryx, Inc. and Gilead Sciences, Inc. (HEB-US, AMGN-US, CLDX-US, FBIO-US, PFE-US, CCXI-US and GILD-US) that have also reported for this period.

Highlights

  • Summary numbers: Revenues of USD 0.07 million, Net Earnings of USD -8.54 million.
  • Year-on-year change in operating cash flow of 21.11% is about the same as the change in earnings, likely no significant movement in accruals or reserves.
  • Earnings rose compared to same period last year, despite decline in operating and pretax margins.

The table below shows the preliminary results and recent trends for key metrics such as revenues and net income growth:

2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30
Relevant Numbers (Quarterly)
Revenues (mil) 0.07 0.11 0.16 0.15 0.49
Revenue Growth (%YOY) -85.74 -28.12 121.68 -7.32 355.01
Earnings (mil) -8.54 -24.08 -15.35 -12.25 -12.61
Earnings Growth (%YOY) 32.27 -87.83 12.55 39.01 35.7
Net Margin (%) -12251.75 -22876.98 -9383.3 -8345.04 -2579.85
EPS -0.21 -0.58 -0.37 -0.32 -0.48
Return on Equity (%) N/A N/A -116.75 -100.4 N/A
Return on Assets (%) -122.42 -151.63 -59.64 -55.92 -92.36

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Market Share Versus Profits

Revenues History
Earnings History

ARGS-US‘s change in revenue this period compared to the same period last year of -85.74% is almost the same as its change in earnings, and is about average among the announced results thus far in its peer group, suggesting that ARGS-US is holding onto its market share. Also, for comparison purposes, revenues changed by -33.79% and earnings by 64.54% compared to the immediate last period.

Revenues Growth Versus Earnings Growth

Quadrant label definitions. Hover to know more

Leader, Earnings Focus, Laggard, Revenues Focus

Cash Versus Earnings – Sustainable Performance?

It is important to examine a company�s cash versus earnings numbers to gauge whether its performance is sustainable.

ARGS-US‘s change in operating cash flow of 21.11% compared to the same period last year is about the same as its change in earnings this period. Additionally, this change in operating cash flow is about average among its peer group. This suggests that the company did not use accruals or reserves to manage earnings this period, and that, all else being equal, the earnings number is sustainable.

Operating Cash Flow Growth Versus Earnings Growth

Quadrant label definitions. Hover to know more

Cash Flow based Earnings, Likely Non-cash Earnings, Low Cash Flow Base, Likely Undeclared Earnings

Margins

Despite a decline in operating (EBIT) margins as well as a decline in pretax margins, the company’s earnings rose.

EBIT Margin Versus PreTax Margin

Quadrant label definitions. Hover to know more

Operation driven Earnings, One-time Favorables, Low Earnings Base, One-time Unfavorables
EBIT Margin History
PreTax Margin History

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Company Profile

Argos Therapeutics, Inc. is a biopharmaceutical company, which engages in development and commercialization of individualized immunotherapies for the treatment of cancer and infectious diseases based on its proprietary technology platform called Arcelis. Its product candidates include AGS-003 for the treatment of metastatic renal cell carcinoma, and other cancers; and AGS-004 for the treatment of human immunodeficiency virus. The company was founded by Ralph Steinman on May 8, 1997 and is headquartered in Durham, NC.

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