Consistent Revenue Growth
Revenue increased by 9% compared to the same period last year, marking the fifth consecutive quarter of year-over-year growth. Lab Essentials products revenue grew 16%.
Operational Efficiency Improvements
Implemented key projects like electronic batch records and high-throughput dispensing lines, expected to be operational in 2026, with improved metrics such as on-time delivery.
Increased and Diversified Customer Base
Expanded Clinical Solutions customer base, expected to translate to significant revenue growth as therapies and diagnostics move towards commercialization in 2 to 3 years.
Improved Gross Profit and Margin
Gross profit for the third quarter of 2025 was $3.2 million, with a gross margin of 30.7%, up from 0.9% in the third quarter of 2024.
Reduction in Net Loss
Net loss for the third quarter of 2025 was $4.3 million, compared to a net loss of $7.6 million in the third quarter of 2024.