Sorrento Therapeutics (Sorrento Therapeutics) Gross Profit : $28.64 Mil (TTM As of Jun. 2023)

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What is Sorrento Therapeutics Gross Profit?

Sorrento Therapeutics's gross profit for the three months ended in Jun. 2023 was $6.57 Mil. Sorrento Therapeutics's gross profit for the trailing twelve months (TTM) ended in Jun. 2023 was $28.64 Mil.

Gross Margin % is calculated as gross profit divided by its revenue. Sorrento Therapeutics's gross profit for the three months ended in Jun. 2023 was $6.57 Mil. Sorrento Therapeutics's Revenue for the three months ended in Jun. 2023 was $15.03 Mil. Therefore, Sorrento Therapeutics's Gross Margin % for the quarter that ended in Jun. 2023 was 43.74%.

Sorrento Therapeutics had a gross margin of 43.74% for the quarter that ended in Jun. 2023 => Durable competitive advantage

During the past 13 years, the highest Gross Margin % of Sorrento Therapeutics was 99.13%. The lowest was 44.56%. And the median was 70.92%.

Warning Sign:

Sorrento Therapeutics Inc gross margin has been in long-term decline. The average rate of decline per year is -8.5%.

Sorrento Therapeutics Gross Profit Historical Data

The historical data trend for Sorrento Therapeutics's Gross Profit can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Sorrento Therapeutics Gross Profit Chart

Sorrento Therapeutics Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Gross Profit

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14.13

19.20

30.05

39.87

29.39

Sorrento Therapeutics Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Gross Profit	Get a 7-Day Free Trial															5.76	9.13	1.87	11.07	6.57

Competitive Comparison of Sorrento Therapeutics's Gross Profit

For the Biotechnology subindustry, Sorrento Therapeutics's Gross Profit, along with its competitors' market caps and Gross Profit data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Sorrento Therapeutics's Gross Profit Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Sorrento Therapeutics's Gross Profit distribution charts can be found below:

* The bar in red indicates where Sorrento Therapeutics's Gross Profit falls into.

Sorrento Therapeutics Gross Profit Calculation

Gross Profit is the different between the sale prices and the cost of buying or producing the goods.

Sorrento Therapeutics's Gross Profit for the fiscal year that ended in Dec. 2022 is calculated as

Gross Profit (A: Dec. 2022 )	=	Revenue	-	Cost of Goods Sold
	=	62.839	-	33.452
	=	29.39

Sorrento Therapeutics's Gross Profit for the quarter that ended in Jun. 2023 is calculated as

Gross Profit (Q: Jun. 2023 )	=	Revenue	-	Cost of Goods Sold
	=	15.025	-	8.453
	=	6.57

Gross Profit for the trailing twelve months (TTM) ended in Jun. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $28.64 Mil.

Gross Profit is the numerator in the calculation of Gross Margin.

Sorrento Therapeutics's Gross Margin % for the quarter that ended in Jun. 2023 is calculated as

Gross Margin % (Q: Jun. 2023 )	=	Gross Profit (Q: Jun. 2023 )	/	Revenue (Q: Jun. 2023 )
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	6.57	/	15.025
	=	43.74 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

Sorrento Therapeutics (OTCPK:SRNE) Gross Profit Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

Sorrento Therapeutics had a gross margin of 43.74% for the quarter that ended in Jun. 2023 => Durable competitive advantage

Sorrento Therapeutics Gross Profit Related Terms

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Sorrento Therapeutics (Sorrento Therapeutics) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Sorrento Therapeutics Inc (OTCPK:SRNE) » Definitions » Gross Profit

Comparable Companies

Traded in Other Exchanges

N/A

Address

4955 Directors Place, San Diego, CA, USA, 92121

Website

https://www.sorrentotherapeutics.com

Sorrento Therapeutics Inc is a clinical and commercial-stage biopharmaceutical company developing a portfolio of next-generation treatments for three major therapeutic areas: cancer, infectious disease, and pain. Its multimodal, multipronged approach to fighting cancer is made possible by its extensive immuno-oncology platforms, including key assets such as fully human antibodies (G-MAB library), immuno-cellular therapies (DAR-T), antibody-drug conjugates (ADCs), and oncolytic virus (Seprehvec). Sorrento is also developing potential antiviral therapies and vaccines against coronaviruses, including COVI-AMG, COVIDROPS, COVISHIELD, FUJOVEE (Abivertinib), and OQORY (Covi-MSC), and diagnostic test solutions, including COVITRACK and COVIMARK.

Executives

Henry Ji	director, officer: See Remarks	5370 RUETTE DE MER, SAN DIEGO CA 92130
Tammy Reilly	director	C/O SORRENTO THERAPEUTICS, INC., 4955 DIRECTORS PLACE, SAN DIEGO CA 92121
Kim Janda	director	6042 CORNERSTONE CT. WEST, SUITE B, SAN DIEGO CA 92121
Elizabeth Czerepak	director	201 ROUTE 17 NORTH, RUTHERFORD NJ 07070
Dorman Followwill	director	C/O SORRENTO THERAPEUTICS, INC., 4955 DIRECTOR'S PLACE, SAN DIEGO CA 92121
Najjam Asghar	officer: Chief Financial Officer	C/O SORRENTO THERAPEUTICS, INC., 4955 DIRECTORS PLACE, SAN DIEGO CA 92121
Robin L Smith	director	C/O PHASE III MEDICAL, INC., 330 SOUTH SERVICE ROAD, SUITE 120, MELVILLE NY 11747
Edgar Lee	director	C/O OAKTREE CAPITAL MANAGEMENT, L.P., 333 SOUTH GRAND AVE, 28TH FLOOR, LOS ANGELES CA 90071
Jerome B Zeldis	officer: See Remarks	8767 E. VIA DE VENTURA, SUITE 190, SCOTTSDALE AZ 85258
Jaisim Shah	director	C/O PROTINE DESIGN LAB, 37481 MARSTEN DR, NEWARK CA 94560
Yue Alexander Wu	director	C/O SORRENTO THERAPEUTICS, INC., 9380 JUDICIAL DRIVE, SAN DIEGO CA 92121
David Lemus	director	C/O SORRENTO THERAPEUTICS, INC., 4955 DIRECTOR'S PLACE, SAN DIEGO CA 92121
Abg Management Ltd	10 percent owner	UNIT 3002-04,30TH FLOOR,GLOUCESTER TOWER, THE LANDMARK,15 QUEEN'S ROAD CENTRAL, HONG KONG K3 000000
Jiong Shao	officer: Chief Financial Officer	SUITE 1003-1004, 10/F, ICBC TOWER, THREE GARDEN ROAD, CENTRAL, HONG KONG F4 000000
George K Ng	officer: See Remarks	C/O SORRENTO THERAPEUTICS, INC., 6042 CORNERSTONE COURT WEST, SUITE B, SAN DIEGO CA 92121