Record-Setting Fourth Quarter Revenue
The company achieved $7 million in revenue for the fourth quarter, marking the highest quarterly revenue in its history. This represents an 8.1% increase over the year-ago quarter and a 13.5% increase from the prior quarter.
Significant Gross Margin Improvement
Gross margin improved to 64% in the fourth quarter, up from 48% in the same quarter last year. For the full fiscal year, gross margins expanded by 600 basis points from 49% to 55%.
BioStrand Segment Growth
The BioStrand segment grew more than 180% year-over-year, delivering gross margins approaching 90%. It is expected to remain a strong contributor to top-line performance and support continued margin expansion.
Record Adjusted EBITDA Performance
The company narrowed its adjusted EBITDA loss to $316,000, a significant improvement from a $1.7 million loss in the same quarter last year, highlighting improved operational efficiency.
Strong Growth in Canadian Business
Canadian sales orders reached $4.3 million in the fourth quarter, more than double historical quarters, with year-over-year sales in Canada increasing by 47% and quarterly orders up 83%.
Strategic Collaborations and Partnerships
Notable collaborations include partnerships with RIBOPRO, Vultr, and a multibillion-dollar technology company, as well as advancements in AI infrastructure and drug discovery platforms.
NASDAQ Compliance and Leadership Strengthening
The company regained compliance with NASDAQ's minimum bid price requirement, reflecting market confidence, and strengthened its leadership team with new appointments.