Biomerica Reports Third Quarter Fiscal 2025 Financial Results
Total Revenue Increases 10% Year-Over-Year
Delivers Improved Gross Margins, Achieves Annual Cost Savings Target Early, and Reduces Cash Burn Over 55%
IRVINE, Calif., April 15, 2025 (GLOBE NEWSWIRE) -- Biomerica, Inc. (NASDAQ:BMRA), (the "Company") a global provider of advanced medical diagnostic and therapeutic products today reported financial results for the third quarter of fiscal 2025 ended February 28, 2025.
Key Highlights:
1. Fortel® PSA Screening Test Approved by UAE Ministry of Health & Prevention:Biomerica's Fortel® Prostate Specific Antigen (PSA) Screening Test has received regulatory approval from the United Arab Emirates Ministry of Health & Prevention (MOHAP). The Fortel® test offers fast, accurate PSA results in just 10 minutes using a simple finger-prick blood sample. By enabling earlier detection of prostate cancer and other prostate conditions, this easy-to-use diagnostic tool aims to enhance preventative care, reduce pressure on healthcare systems, and support improved patient outcomes.
2. inFoods® IBS Clinical Trial Results Published in Gastroenterology:New clinical data published in Gastroenterology, the leading peer-reviewed journal for gastrointestinal medicine, demonstrated that patients with Irritable Bowel Syndrome (IBS) experienced statistically significant reductions in abdominal pain and bloating when following a personalized diet therapy plan guided by Biomerica's inFoods® IBS test. Unlike other IBS products, inFoods® IBS uniquely identifies specific foods that trigger elevated Immunoglobulin G (IgG) responses—a marker of inflammation linked to IBS symptoms—using a 95% confidence interval for each food in the panel. IBS affects an estimated 10%–15% of adults in the U.S. and contributes to reduced quality of life and productivity. The findings support the role of personalized food-guided therapy as a meaningful intervention for IBS management.
3. CE-IVDR Certification Achieved for Food Intolerance Products Targeting Ulcerative Colitis:Biomerica's new food intolerance products targeting Ulcerative Colitis have been awarded CE-marking under the European Union's In Vitro Diagnostic Medical Devices Regulation (IVDR), a stringent regulatory framework designed to enhance diagnostic safety and performance across Europe. This IVDR certification highlights Biomerica's continued leadership in developing non-invasive, personalized diagnostic tools for chronic gastrointestinal conditions. The newly approved tests will help meet the increasing demand for individualized approaches to managing diseases such as Ulcerative Colitis, which affects millions globally.
4. Achieved Full-Year Cost Savings Target Nine Months Into Fiscal 2025:Biomerica reached its annual cost savings target ahead of schedule, delivering approximately $1.1 million in savings, representing 16% of annual operating expenses within the first nine months of fiscal 2025.
Financial Highlights for the Third Quarter of Fiscal 2025Biomerica's third quarter results reflect continued execution against its strategic priorities, delivering year-over-year revenue growth, expanded gross margins, and substantial reductions in both operating expenses and cash burn.
Revenue and Sales Performance: For the fiscal third quarter of 2025, Biomerica reported net sales of $1.10 million, a 10% increase from $1.00 million recorded in the same quarter of the previous year. This growth reflects continued demand for Biomerica's product offerings and reinforces the appeal of our diverse product portfolio.
Cost Management and Margin Enhancement: Gross margin improved from negative 15% in the third quarter of fiscal 2024 to positive 2% in the current quarter, reflecting a favorable product mix and lower direct labor and overhead costs, achieved through strategic workforce reductions and operational efficiency initiatives.
Operating expenses decreased 37% year-over-year to $1.20 million in the third quarter of fiscal 2025, down from $1.90 million in the same period last year, driven by the Company's continued focus on operational efficiencies and disciplined cost management.
Biomerica continued to make significant progress with its cost-saving initiatives, targeting an annual expense reduction of 16% to 23%. Impressively, the Company has already achieved approximately $1.1 million in savings within the first nine months of fiscal 2025, representing 16% of annual operating expenses and reaching the lower end of its full-year target range ahead of schedule.
Reduced Net Losses & Improved Cash Burn: Operating loss improved to ($1.20) million ...
