Scientific Industries Reports Financial Results for First Quarter of Fiscal Year 2025

Core Insights - Scientific Industries, Inc. reported a 5% revenue growth in its Benchtop Lab Equipment Operations for Q1 2025, driven by the Genie and Torbal Divisions, with a notable increase in US-based customers [4][5][6] - Overall revenue for the first quarter decreased by 3% due to a significant decline in international sales, which fell by 33% [4][6] - The company secured $1.5 million in equity financing and reported a decreased net loss of $1.78 million, improving from a loss of $2.05 million in the same period last year [5][9] Financial Overview - Net revenues for Q1 2025 totaled $2.41 million, down from $2.48 million in Q1 2024, primarily due to a $182,600 decrease in Bioprocessing Systems Operations revenues [6][17] - Benchtop Laboratory Equipment revenues increased to $2.3 million, a 5% rise compared to $2.2 million in the prior year [5][17] - Bioprocessing Systems Operations revenues decreased by 58% to $133,500 from $316,100 in the previous year [5][17] Profitability Metrics - Gross profit for Q1 2025 was $1.02 million, slightly down from $1.04 million in Q1 2024, with a gross margin of 42.2%, up from 41.9% [7][17] - Operating expenses decreased by 9.7% to $2.83 million, attributed to cost-cutting measures implemented in fiscal 2024 [8][17] - The company reported a basic and diluted loss per share of $0.16, an improvement from $0.20 in the same quarter last year [9][17] Strategic Developments - The company is planning to scale its DOTS platform with the launch of a new optical pH sensor and high-performance liquid injection system in the second half of 2025 [4] - A peer-reviewed publication validated the DOTS Multiparameter platform, confirming its sensitivity and reliability compared to industry standards [4][5]