Biomerica Reports Third Quarter Fiscal 2025 Financial Results

Core Insights - Biomerica, Inc. reported financial results for the third quarter of fiscal 2025, highlighting revenue growth, improved gross margins, and significant reductions in operating expenses and cash burn [1][6][10]. Regulatory Approvals and Product Developments - The Fortel Prostate Specific Antigen (PSA) Screening Test received regulatory approval from the UAE Ministry of Health & Prevention, enabling faster and more accurate prostate cancer detection [2]. - Clinical trial results for the inFoods IBS test were published in Gastroenterology, showing significant reductions in abdominal pain and bloating for IBS patients using personalized diet therapy [3]. - Biomerica's food intolerance products targeting Ulcerative Colitis achieved CE-IVDR certification, enhancing the company's position in the European market for chronic gastrointestinal conditions [4]. Financial Performance - For the third quarter of fiscal 2025, Biomerica reported net sales of $1.10 million, a 10% increase from $1.00 million in the same quarter of the previous year, reflecting strong demand for its products [7]. - Gross margin improved from negative 15% in Q3 fiscal 2024 to positive 2% in Q3 fiscal 2025, attributed to a favorable product mix and reduced labor and overhead costs [8]. - Operating expenses decreased by 37% year-over-year to $1.20 million, down from $1.90 million, due to operational efficiencies and disciplined cost management [9]. Cost Management and Cash Flow - Biomerica achieved its annual cost savings target of approximately $1.1 million, representing 16% of annual operating expenses, ahead of schedule [5][11]. - The operating loss improved to ($1.20) million in Q3 fiscal 2025, compared to ($2.00) million in the prior year, indicating a 37% year-over-year improvement in net loss [12]. - As of February 28, 2025, cash and cash equivalents totaled $3.06 million, an increase from $2.37 million, primarily due to the successful utilization of the At-The-Market equity program [13].