Hydromer, Inc. reports preliminary Q2 revenue $836,000 vs. $1.2M last year

The company said, “We believe that the decline in sales is attributed to attrition in our legacy customer base, lack of innovation, and insufficient sales prospecting efforts in the previous years. While the Company has faced a current decline in sales, it remains committed to strengthening operations and sales strategies…In Q2 2024, the Company successfully converted twelve promising research and development projects. The Company intends on leveraging these projects to build and establish long-term partnerships to drive future growth. Underscoring this point, the Company signed supply agreements with six new customers. In addition to the projects won and executed on, the Company is continuing to develop new and advanced product offerings”