Biosyent (RX) Q4 2024 earnings summary

Executive summary

• Achieved record annual revenue of over CAD 35 million in FY 2024, up 11% year-over-year, with Q4 sales of just under CAD 8.8 million, driven by Canadian and international pharma segments.

• Net income after tax for FY 2024 was just under CAD 7.3 million, up 13%, with EPS growing to CAD 0.62, marking 58 consecutive profitable quarters.

• Portfolio diversification continued with the acquisition of Tibelia Global/Tibella rights and in-licensing of a new endocrinology asset.

• Recognized as a top-performing TSX Venture company and maintained strong brand leadership in Canada.

• Launched seven new products in Canada over the past five years, supporting long-term growth.

Financial highlights

• Q4 2024 EBITDA was $2.24M (+36% YoY); FY 2024 EBITDA was over CAD 9.3 million (+18% YoY), with margin at 27%.

• Net income after tax for FY 2024 was just under CAD 7.3 million, up 13%, with NIAT margin at 21%.

• EPS for Q4 at CAD 0.14 and full year at CAD 0.62, up from CAD 0.53 last year.

• Cash and investments at year-end 2024 totaled $26 million, with zero debt and working capital of $19.1 million.

• Key product growth: Inofolic® up 328%, Gelclair® up 357%, Combogesic® up 66% for FY 2024.

Outlook and guidance

• Expecting international pharma business, especially FeraMAX ex-Canada, to grow over 50% in 2025.

• New endocrinology asset targeted for a 2026 launch, anticipated to be a major revenue contributor.

• Tibelia Global shipments began in Q1 2025, with an order book filling for further growth.

• Double-digit revenue growth projected over the next several years, with ongoing portfolio expansion and international diversification.

• Management remains focused on delivering high-quality, innovative products and long-term profitable growth amid increasing market uncertainty in 2025.