Microbix Biosystms ( (TSE:MBX) ) has issued an update.
Microbix Biosystems reported strong financial results for the first quarter of fiscal 2025, with revenues reaching $6.0 million and a net income of $0.9 million. The significant 40% year-over-year increase in revenues was mainly driven by the growth in sales of its antigen products, which saw a 118% increase. Although there was a decrease in test quality assessment product revenues due to delays in customer test-development programs, the company achieved improved gross margins of 62% through better efficiencies and pricing strategies. Operating expenses were reduced by 23% compared to the previous year, contributing to the overall profitability without reliance on non-recurring revenues from the prior year’s Kinlytic licensing deal.
More about Microbix Biosystms
Microbix Biosystems Inc. is a life sciences company engaged in the innovation, manufacturing, and exporting of diagnostic-test related ingredients and devices. The company focuses on increasing recurring sales of its diagnostic products, primarily antigens and test quality assessment products, within the healthcare industry.
YTD Price Performance: 20.0%
Average Trading Volume: 148,207
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$64.55M
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