Intrexon Corporation (XON) saw its loss widen to $44.14 million, or $0.37 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $32.71 million, or $0.28 a share. On an adjusted basis, loss per share was at $0.05 for the quarter compared with loss of $0.11 a share in the same period last year. Revenue during the quarter grew 10.85 percent to $46 million from $41.50 million in the previous year period. Gross margin for the quarter expanded 516 basis points over the previous year period to 69.11 percent. Operating margin for the quarter stood at negative 70.84 percent as compared to a negative 82.88 percent for the previous year period.
Operating loss for the quarter was $32.59 million, compared with an operating loss of $34.40 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $5.79 million compared to negative $12.89 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 12.59 percent for the quarter compared to negative 31.07 percent in the last year period.
“Over the course of 2016, while nevertheless achieving its overall financial goals, significantly advancing a great many of its partnered programs, and meaningfully extending its technology platforms, the Company faced political and regulatory headwinds in our marketable products portfolio that we had not fully appreciated at this time last year, causing us to underachieve commercially as compared with our expectations,” commented Randal J. Kirk, chairman and chief executive officer of Intrexon.
Working capital declines
Intrexon Corporation has witnessed a decline in the working capital over the last year. It stood at $220.58 million as at Dec. 31, 2016, down 11.02 percent or $27.32 million from $247.90 million on Dec. 31, 2015. Current ratio was at 3.33 as on Dec. 31, 2016, down from 4.27 on Dec. 31, 2015.
Debt comes down marginally
Intrexon Corporation has recorded a decline in total debt over the last one year. It stood at $8.77 million as on Dec. 31, 2016, down 3.53 percent or $0.32 million from $9.09 million on Dec. 31, 2015. Total debt was 0.92 percent of total assets as on Dec. 31, 2016, compared with 0.93 percent on Dec. 31, 2015. Debt to equity ratio was almost stable at 0.02 as on Dec. 31, 2016, when compared with the last year.
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