Scientific Industries, Inc. reported net revenues of $2,406,500 for the first quarter ended March 31, 2025, a 3.1% decrease from $2,483,500 in the prior year period. Despite this, the Benchtop Lab Equipment Operations achieved a 5% revenue growth, driven by both the Genie and Torbal Divisions, with a notable shift towards US-based customers.
The company's net loss decreased to $1,778,500, or $(0.16) diluted earnings per share, an improvement of $273,100 compared to a net loss of $2,051,600, or $(0.20) diluted earnings per share, in the same period of 2024. This reduction was primarily due to a 9.7% decrease in operating expenses, totaling $2,827,500, resulting from cost-cutting measures implemented in fiscal 2024.
A significant milestone was the receipt of the first peer-reviewed journal publication on the DOTS Multiparameter platform, which confirmed its sensitivity, reproducibility, reliability, and comparability against industry standards. The Bioprocessing Systems Operations recorded a record number of leads and pipeline value, with deal closings anticipated in the second half of the year, and an upgrade allowing mammalian cell monitoring was completed during the quarter.
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