Champions Oncology Reports Record Revenue and Positive Adjusted EBITDA in Fiscal 2026
Champions Oncology, a leading provider of personalized oncology services and data solutions, has announced record revenue and positive Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for fiscal year 2026. The company's CEO, Rob Brainin, reported the results during a recent earnings call.
"We delivered record annual revenue and met our commitment to full-year positive Adjusted EBITDA, including positive Adjusted EBITDA in each of the four quarters on its own," Brainin said, highlighting the company's achievement. This marks the first time Champions Oncology has reported positive Adjusted EBITDA for every quarter since fiscal 2022.
The company's core services business drove real strength, with services revenue growing to a record $58.7 million, up approximately 12% over the prior year. This growth was attributed to high conversion rates of previously booked studies and the continued differentiation of its PDX bank in a market where model quality and characterization matter more every year.
The company's Translational Oncology Solutions business had its strongest year in history, with services revenue reaching record levels. The operations team delivered this growth without material additions to headcount, demonstrating the operating leverage that Champions Oncology has been describing. Brainin noted that quarterly results can vary due to timing of study completions, but the underlying demand environment remains healthy.
While data license revenue did not repeat its fiscal 2025 level, which was heavily influenced by a single large transaction, the company expanded its customer base through smaller licensing agreements and continues to pursue larger strategic opportunities. The pipeline has grown in both the number of opportunities and the size of potential transactions, with customer engagement building around the value of combining deeply characterized models with clinically relevant data.
"We made meaningful progress in broadening our customer base while continuing to pursue larger strategic licensing opportunities," Brainin said. "Our services and data come together, with our work in PDX models being a form of predictive modeling that becomes far more powerful when it sits on top of a deeply characterized data set and is used in conjunction with modern machine learning and AI."
Champions Oncology's focus on expanding bookings and the future pipeline of work will continue to drive growth, with Brainin emphasizing the direction rather than any single quarter. The company's investment in its data platform for future growth and scalability will also support its continued expansion.
