Cordlife’s total number of samples collected fell 4.5% y-o-y to 8,400, with growth in India offset by decline in Singapore and Hong Kong, although Mak notes that the revenue per sample is lower in India.
In an unrated report dated Sept 2, SAC Capital analyst Peggy Mak sees lower births and a cut back in discretionary spending as likely factors to be a drag on Cordlife’s organic revenue.
Mak’s report comes after Cordlife reported its results for the 1HFY2022 ended June on Aug 11. During the half-year period, Cordlife saw a 4.0% y-o-y decline in its revenue of $26.2 million as cord blood banking operations have been slow to pick up even as elective healthcare spending has resumed with the economic reopening. Its 1HFY2022 net profit fell by 24.1% y-o-y to $1.9 million.
