Microbix Biosystems Inc. reports strong Q3 and YTD results, anticipating continued growth

by MarketNewsData

From Cision: 2024-08-14 07:32:00

Microbix Biosystems Inc. reports a strong Q3 and YTD results for fiscal 2024, reflecting growth in sales of test ingredients and quality assessment products. Q3 revenues were C$5.1 million, with net income of $246,746 and YTD revenues at $19.1 million. Antigen and QAPs sales saw significant growth, contributing to 20% increase in Q3 sales. The company anticipates continued sales growth and a record fiscal year 2024.

Key Q3 financial highlights include revenue of $5,059,465 and a gross margin of 54%. Antigen sales were up by 26% and QAPs by 15%, resulting in an operating income and net income of $246,746. YTD revenue reached $19,100,251, a 56% increase from YTD 2023, driven by strong growth in Antigens and QAPs businesses. YTD gross margin was 63%, significantly higher than in 2023.

Microbix plans to maintain sales growth, improve gross margins, and achieve year-over-year growth in revenues and net earnings for fiscal 2024. A webinar to discuss Q3 2024 results with the CEO, CFO, and COO will be held on August 14th at 10:00 AM ET. Investors can participate by registering at https://us02web.zoom.us/webinar/register/WN_s7h8Mb3AQBqCZK34W8krsA or watching the live stream on YouTube at https://www.youtube.com/channel/UC7Jpt_DWjF1qSCzfKlpLMWw. A replay will also be available on Adelaide Capital’s YouTube channel.

Microbix Biosystems Inc. is a life sciences innovator, manufacturer, and exporter, focusing on creating biological products for human health. With over 100 employees and annualized revenues around C$2.0 million per month, the company’s products support diagnostic assays worldwide. Microbix’s strategic antigens are used by approximately 100 diagnostics makers, while QAPs products ensure clinical lab proficiency testing. The company is focused on driving continued growth and expanding its global presence in the diagnostics industry.



Read more at Cision:: Microbix Reports Continued Strong Results for Q3 Fiscal

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