Strong Revenue Growth in Pathology Services
The Pathology Services division is growing at an annualized growth rate of about 70%, contributing positively to overall company performance.
Products Division Recovery
Products revenue grew by 23% from the previous quarter, representing an almost 100% annualized growth rate, indicating recovery from last year's temporary decline.
Gross Margin Improvement
Overall company gross margins improved from 39% to 43%, showing positive financial progress.
New Customer Pipeline
A strong pipeline of new customers is in various onboarding stages, expected to contribute to continued growth in Q3.
Record Revenue in July
In July, Pathology Services achieved a new record, exceeding $2 million in revenue in a single month.
Strategic Investment in Laboratory Expansion
Investments were made in expanding laboratory space and acquiring key equipment, with only a modest impact on near-term trajectory towards breakeven.
Distributor Pipeline Growth
An increase in the pipeline generated by distributors marks progress in scaling up the business.
Warrant Conversion Structure to Minimize Dilution
The company structured a warrant conversion to minimize dilution and manage capital structure responsibly.