Biomerica, Inc. reported net sales of $1.64 million for the fiscal second quarter of 2025, ending November 30, 2024, representing a 5% increase from $1.57 million in the same quarter of the previous year. This revenue growth was driven by sustained demand from both new and existing customers. The company continued to make progress with its cost-saving initiatives, delivering approximately $670 thousand in savings and remaining on track to achieve its projected annual savings of $1.0 million to $1.4 million.
Gross margins improved from 21% in Q2 FY2024 to 27% in Q2 FY2025, reflecting a favorable shift in the sales mix towards Over-the-Counter (OTC) and Contract Manufacturing sectors, along with reduced direct labor costs. Operating expenses saw a substantial 26% year-over-year decrease, dropping to $1.43 million from $1.93 million, primarily due to efficiencies from workforce reductions and streamlined operations. These disciplined cost management efforts contributed to improved financial performance.
The company experienced notable progress in reducing its operating and net losses for the quarter. Operating loss decreased by 39% to $990,000 from $1.6 million, and net loss reduced by 37% to $950,000 from $1.5 million. Cash and cash equivalents stood at $2.37 million at the end of the second quarter, providing financial flexibility for strategic initiatives. CEO Zack Irani stated the company remains focused on achieving cash flow break-even.
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