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Microbix Biosystems (MBX) investor relations material
Microbix Biosystems Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary14 Aug, 2025
Executive summary
Q3 fiscal 2025 was the weakest in three years, with revenue falling to $3.5M, the lowest in 11 quarters, due to reduced Chinese demand and a major QAPS client halting development, resulting in a net loss of $1.64M for the quarter and $0.77M YTD loss.
Customer concentration risk materialized, with five customers accounting for 77% of Q3 revenue and 81% of receivables, and the company unable to quickly backfill lost revenues.
Despite setbacks, recurring sales remained stable year-over-year, and QAPs business excluding the canceled customer showed double-digit growth.
Gross margin dropped to 41% in Q3 from 54% last year, with YTD gross margin at 56% versus 63% in YTD 2024.
Management remains focused on resuming growth, expanding the customer base, launching new products, and leveraging strong liquidity.
Financial highlights
Q3 2025 revenue: $3.47M, down 31% from Q3 2024; YTD revenue: $14.84M, down 22% year-over-year.
Q3 net loss: $1.64M vs. net income of $0.25M in Q3 2024; YTD net loss: $0.77M vs. net income of $3.08M in YTD 2024.
Margins were negatively impacted by lower sales volumes and unfavorable product mix, with Q3 gross margin at 41%.
Loss of one-time funding and favorable financial adjustments from the prior year further affected results.
Cash and equivalents at June 30, 2025: $12.1M; current ratio: 9.73; debt-to-equity ratio: 0.30.
Outlook and guidance
At least one more challenging quarter is expected before recurring sales recover; management expects it will take several quarters to return to previous growth trajectory.
New customers, products, and programs are being targeted to rebuild sales, with significant impact expected in fiscal 2026.
QAPS segment expected to be the fastest-growing revenue source through fiscal 2027, driven by new products, regulatory changes, and PoCT adoption.
QUANTDx product line is expected to generate under CAD 500,000 in 2026, with long-term growth potential.
No plans for significant cost-cutting or headcount reduction; focus remains on top-line growth.
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Next Microbix Biosystems earnings date
Q4 202518 Dec, 2025
Next Microbix Biosystems earnings date
Q4 202518 Dec, 2025
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Frequently asked questions
Microbix Biosystems Inc. is a life sciences company that develops and commercializes a range of proprietary biological and technological solutions aimed at improving human health and wellbeing. The company, established in 1988, has a focus on the global diagnostics industry, producing high-quality biological materials. These include antigens used in immunoassays and various Quality Assessment and Proficiency (QAPs) testing products. Microbix Biosystems also manufactures diagnostic-test products, including test-controls under the QAPs brand and viral transport mediums used for collecting patient samples. Additionally, the company is involved in the development of Kinlytic, a biologic thrombolytic drug for treating blood clots. The company is headquartered in Mississauga, Ontario, Canada, and its shares are listed on the Toronto Stock Exchange.
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