Daxor (DXR) investor relations material

Strategic growth and financial performance

• Revenue increased 116.5% year-over-year from 2023 to 2024, with kit sales up 60.1% and a 47% price increase for Volumex in 2025.

• 24 new accounts signed since 2024, including both direct purchases and lab service placements.

• Awarded $5.6M in DoD contracts and $1.1M in NIH grants for next-gen device development and clinical decision support tools.

• Market cap stands at $54.7M as of August 2025, with 4.96M shares outstanding and 56.5% insider ownership.

• Clean capital structure with no warrants or preferred shares, and a strong balance sheet.

Product innovation and clinical validation

• Launched a new FDA-cleared, hand-held BVA analyzer delivering results in ~15 minutes, expanding access to both hospital and ambulatory settings.

• Over 75,000 tests shipped and 165+ peer-reviewed studies published, demonstrating clinical efficacy and improved patient outcomes.

• BVA-guided care shown to reduce heart failure mortality, readmissions, and hospital length of stay by 57%.

• Device validated for use in critical care, sepsis, and other high-burden conditions, with proven cost-effectiveness and ROI.

• Acquired Volumex, Megatope, and Glofil to enhance the diagnostics suite.

Market opportunity and business model

• Addressable market exceeds $12B, with significant potential in heart failure, critical care, hypertension, and surgical blood loss.

• Razor/razorblade model drives recurring revenue through analyzer sales and single-use test kits.

• Robust reimbursement landscape with Medicare and private insurance coverage for both inpatient and outpatient settings.

• Direct sales to major medical centers, international expansion, and strategic partnerships with leading medical organizations.

• Over $7M in government grants secured for next-gen systems and integration into electronic health records.