Applied DNA Sciences(APDN) - 2025 Q2 - Quarterly Results

Revenue Performance - LineaRx segment revenues increased by 44% year-over-year, contributing to a total revenue increase of 6%[2] - Total revenues for the second quarter of fiscal 2025 were $983 thousand, compared to $930 thousand for the same period in fiscal 2024[9] - Total revenues for the three months ended March 31, 2025, were $983,374, representing an increase from $929,631 in the same period of 2024, a growth of approximately 5.5%[23] - Product revenues increased to $548,638 for the three months ended March 31, 2025, compared to $393,125 in the prior year, reflecting a growth of 39.6%[23] Loss and Expenses - Operating loss for the second quarter was $3.5 million, slightly improved from a loss of $3.6 million in the prior year[9] - Net loss for the quarter was $3.3 million, an improvement from a net loss of $4.5 million in the second quarter of fiscal 2024[9] - The net loss attributable to Applied DNA Sciences, Inc. for the three months ended March 31, 2025, was $3,304,175, a decrease from $4,470,474 in the same period of 2024, indicating an improvement of 26.1%[23] - The company reported a consolidated adjusted EBITDA loss of $3,322,004 for the three months ended March 31, 2025, compared to a loss of $3,255,840 in the same period of 2024[25] - Operating expenses for the three months ended March 31, 2025, totaled $3,832,642, slightly down from $3,913,402 in the same period of 2024, a decrease of 2.1%[23] Cash and Assets - Cash and cash equivalents as of March 31, 2025, were $6.8 million, including $1.0 million from the exercise of Series A warrants[9] - Cash and cash equivalents increased to $6,823,260 as of March 31, 2025, from $6,431,095 as of September 30, 2024, an increase of 6.1%[21] - Total current assets as of March 31, 2025, were $8,430,411, compared to $8,047,670 as of September 30, 2024, an increase of 4.8%[21] Liabilities - Total liabilities decreased to $2,811,455 as of March 31, 2025, from $3,820,955 as of September 30, 2024, a reduction of 26.4%[21] Future Outlook - Company anticipates a decline in quarterly cash burn starting in the quarter ending June 30, 2025, following strategic restructuring[6] - Management believes that industry tailwinds are accelerating, with significant planned investments in U.S. manufacturing and opportunities arising from limitations in competing technologies[5] - Expected launch of LineaPCR™ in Q4 2025 to simplify PCR-based drug discovery workflows[7] - New TR8™ PGx pharmacogenomic sub-panels introduced to lower adoption barriers for institutions and clinicians[9] Manufacturing Capacity - The validated GMP Site 1 manufacturing operations can support an annual revenue capacity between $10 million and $30 million, depending on product mix and pricing[7] Share Issuance - The company had 6,331,410 shares issued and outstanding as of March 31, 2025, compared to 206,324 shares as of September 30, 2024, indicating a significant increase in share issuance[21]