Enzo Biochem(ENZ) - 2025 Q2 - Quarterly Results

Financial Performance - The Company's second-quarter revenue of $7.3 million increased sequentially by $1.1 million, representing an 18% improvement from Q1 FY25[4]. - The gross margin percentage for Q2 FY25 was 52%, up from 37% in Q1 FY25 and 49% in Q2 FY24[4]. - The Enzo Life Sciences Products segment achieved a $0.5 million operating profit in Q2 FY25, a $2 million sequential improvement from a $1.5 million operating loss in Q1 FY25[4]. - Year-over-year revenue declined by 14% primarily due to the timing of large order fulfillment and a market slowdown in the US[4]. - Adjusted net loss for Q2 FY25 was $0.974 million, with a basic and diluted net loss per share of $0.02[15]. Cost Management - Cost of revenues decreased by 14%, while SG&A and R&D expenses were reduced by 22% and 27%, respectively[4]. Cash Position - The Company ended Q2 FY25 with cash and cash equivalents of $40.3 million, down from $52.4 million at the end of Q4 FY24[12]. Product Development - The Company doubled the count of new product launches in the first half of FY25 compared to the prior full year[4]. Legal and Compliance - A class-wide settlement agreement related to a cyber incident was reached, with a settlement value of $7.5 million accrued in prior financial statements[4]. - The Company submitted a plan to cure deficiencies in market capitalization and stockholder's equity to comply with NYSE listing standards[4].