BioNexus Gene Lab Corp. (BGLC) reported its financial results for the second quarter and first half ended June 30, 2025, reflecting a company in strategic transition. For Q2 2025, total revenue increased by 14.5% year-over-year to $2.26 million, with gross profit rising 27.5% to $368,022. However, total operating expenses surged by 56.5% to $1.19 million, driven by a 345.8% increase in sales and marketing investments to $608,427 and higher research and development expenses.
These increased expenses led to an operating loss of $(611,293) in Q2 2025, a reversal from an operating profit of $259,168 in Q2 2024. The net loss attributable to common shareholders for the quarter was $(616,172). For the six months ended June 30, 2025, total revenue increased modestly by 0.9% to $4.40 million, but total operating expenses increased by 59.5% to $2.24 million, resulting in a consolidated operating loss of $(1.23) million and a net loss of $(1.24) million.
Segmental performance showed MRNA Scientific's Q2 revenue decreased by 36.9% to $3,466, with gross profit down 76.4% to $741, primarily due to fewer client referrals and a key RNA machine under repair. Chemrex's Q2 revenue increased by 14.7% to $2.26 million, but its operating profit decreased by 67.9% to $223,961 due to higher sales and marketing and general and administrative expenses. BGLC maintains a strong liquidity position with cash and cash equivalents of $1.54 million and total liquidity exceeding $6.00 million as of June 30, 2025.
The company also identified a significant deficiency in internal financial controls at its Chemrex subsidiary, related to documentation standards and transaction approval. BGLC is actively addressing this through a comprehensive remediation plan, including a revised delegation of authority policy, strengthened Board and Audit Committee oversight, and staff re-training. The appointment of a new CFO and additional directors to Chemrex's board are part of these efforts to enhance governance.
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