Biomerica reports revenue increase in Q1 2025, cost-saving measures implemented.

From GlobeNewswire: 2024-10-16 09:00:00

Biomerica, Inc. reported a 6% increase in total revenue for the first quarter of fiscal 2025 compared to the same period last year. Cost-saving measures have been implemented to reduce annual expenses by 16% to 23%, representing a $1.0 to $1.4 million reduction.

The at-home PSA screening test by Biomerica has received approval from the Saudi Food and Drug Authority (SFDA) for early detection of prostate cancer. The test allows men to determine elevated PSA levels with a simple finger-prick blood sample, offering fast results in just 10 minutes.

Biomerica completed a pilot program for inFoods® IBS with a 1,100 physician group, anticipating a possible system-wide launch of the product. The inFoods® IBS aims to identify individual food triggers for IBS symptoms and has shown strong success in clinical studies, potentially improving patient outcomes.

In active discussions with distribution partners, Biomerica is working on expanding availability of inFoods® IBS both in the United States and internationally. The company is also in talks with major clinical labs and distributors for its hp+detect™ product, designed to detect Helicobacter pylori, a leading cause of stomach ulcers.

First quarter fiscal 2025 financial results for Biomerica showed a 6% year-over-year revenue increase, reaching $1.8 million. Although monthly gross margin was 16%, down from 24% the previous year, the company experienced a rise in operating expenses due to one-time severance costs associated with the cost-saving plan.

Biomerica continues its efforts towards improving healthcare with its diagnostic and therapeutic products, focusing on gastrointestinal and inflammatory diseases. The company is dedicated to enhancing health and well-being while reducing total healthcare costs for patients. The inFoods® IBS test offers targeted dietary recommendations for symptom relief.



Read more at GlobeNewswire:: Biomerica Reports First Quarter Fiscal 2025 Financial