ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Q2 2024 Earnings Call Transcript

Page 3 of 3

So there’s two different things that we’ve heard directly from these clients that, BioStrand has really initiated platforms and modules to begin solving. And so part of that is, to be able to consolidate those activities, to be able to have all that in silico work done at a very high quality, along with the wet lab at one location, which reduces their dependence on annual software subscriptions. And then the other component of that is really introducing AI capabilities that can solve some of these problems that can’t be solved in the wet lab, like targeting these much more complicated membrane-bound proteins, oftentimes that are associated with deadly or chronic diseases. And I think one of the examples we gave in the past is a fantastic example of a stellate.

How do we target proteins on a tumor where there’s a microenvironment that’s significantly different than what you would normally find within the human body. And that’s just not something that people have been able to do very well within a wet lab. And it is a solution that BioStrand is able to begin tackling with LENSai, which is an absolute result of our desire and our history of listening to clients and understanding better exactly where they’re going and what they’re telling us they’re going to need to be successful in the future.

Will McHale: Got it. That’s really helpful. It seems like for a lot of the startup SaaS world, the biggest sort of hurdle is finding product market fit. And the fact that we already have such a long relationship with these clients and the CRO, it seems like we kind of already have that. So that’s super exciting to hear. I will drop and let whoever’s next in the line ask questions. Thanks, Jennifer.

Jennifer Bath: Thank you, Will.

Operator: [Operator Instructions] There are no further questions at this time. I will turn the call back to Jennifer for closing remarks.

Jennifer Bath: Thank you, Sarah. So, as we conclude this earnings call, I would like to reiterate the key points that demonstrate our strategic progress and financial resilience. In the first quarter, I discussed our strategy and related initiatives aimed at driving growth and value creation. Now in the second quarter, we continue to deliver on these initiatives. Our focused efforts on laboratory expansion, the advancing commercialization of BioStrand, and monetizing Talem are yielding tangible results. This is evident in our financial performance marked by our revenue growth of 19%. This increase not only reflects our operational efficiency but also underscores the effectiveness of our strategic decisions in a challenging and dynamic market environment.

Moreover, we’ve seen a noteworthy improvement in our net loss, which now stands at $0.10 per share. The investments we are making today in key value creation initiatives are laying the foundation for a strong and sustainable future. We are strategically deploying our resources to areas with the highest potential for growth and return, ensuring that we are well positioned to capitalize on emerging opportunities. As we move forward, our focus remains on executing our strategy with precision, maintaining financial discipline, and continuing to drive shareholder value. Thank you for joining us today and for your continued support.

Operator: This concludes today’s conference call. We thank you for joining.

Follow Immunoprecise Antibodies Ltd.

Page 3 of 3