International Isotopes Inc. reported third‑quarter 2025 results that saw revenue fall 16% to $3.28 million, a decline of $646,628 from the same period a year earlier. The nine‑month revenue of $10.17 million was up 2% from $9.99 million in 2024, reflecting a modest rebound in the Calibration & Reference Products segment. Net loss for the quarter narrowed to $203,601, compared with a net profit of $150,251 in Q3 2024, while the nine‑month net loss widened to $477,080, an increase of $237,245 from the prior year’s $239,835 loss.
Theranostics Products revenue dropped 17% to $5.18 million, largely due to outages of I‑131 raw materials in March, July, and August. The company added a new FDA‑approved supplier that began delivering in September, a move expected to stabilize Theranostics revenue in future quarters. Calibration & Reference Products revenue surged 57% to $3.30 million, driven by the resolution of a cobalt‑57 shortage, though the segment remains impacted by a global Gd‑153 outage. Cobalt Products revenue fell 8% to $1.52 million, and Medical Devices revenue reached $176,476 after a new joint‑venture arrangement for the EasyFill Automated Iodine Capsule System, though the partnership’s terms and projected revenue contribution were not disclosed in the release.
Gross profit for Q3 2025 was $1.94 million, a 59% margin that contracted from 62% in Q3 2024, reflecting higher input costs and supply‑chain disruptions. SG&A expenses fell 24% quarter‑over‑quarter and 11% year‑over‑year, a cost‑control effort that helped narrow the net loss despite margin pressure. The company’s CEO, Shahe Bagerdjian, noted that “we saw significant outages of Theranostics raw materials in July and August before we were able to bring on our new FDA‑approved supplier. Additionally, we continue to have an outage of Gadolinium‑153, which is globally sole‑sourced from a foreign government, impacting our Calibration & Reference Products.”
Management emphasized that the new I‑131 supplier will reduce reliance on a single source and expects to ramp up production in the next 12 months. The company also highlighted the launch of the EasyFill joint venture as a strategic expansion into medical devices, aiming to diversify revenue streams. While the company’s guidance for the remainder of the year was not updated, the narrowing loss and cost‑control measures suggest confidence in maintaining profitability amid ongoing supply‑chain challenges. The planned divestiture of the Fluorine Products segment is expected to further streamline operations and improve financial health.
International Isotopes remains the only domestic U.S. manufacturer of high‑activity Cobalt‑60 sealed‑source products and the sole FDA‑approved U.S. producer of Sodium Iodide I‑131 drug product. The company’s unique market position, combined with its efforts to secure alternative suppliers and expand into medical devices, positions it to navigate current headwinds while pursuing growth opportunities.
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