Microbix Biosystems (MBX) Corporate presentation summary

Business position and products

• 30+ years supplying antigens to 100+ diagnostic manufacturers; often a critical sole-source supplier, with products available in 30+ countries.

• Antigens support immunoassays; QAPs simulate patient samples to validate diagnostic performance across molecular, antigen-based, point-of-care and multiplex testing.

• QAPs target recurring demand from proficiency testing providers, diagnostic makers and clinical labs, including test quality assurance, staff training and lot release.

• Portfolio includes ~300 antigen and QAP SKUs and ~100 REDx molecular controls with CE Mark or FDA registration.

Growth strategy and execution

• F2026 revenue expected at $16–17M after client-specific headwinds; return to growth supported by QAP wins, portfolio expansion and cross-selling to existing customers.

• Welcomed the College of American Pathologists as a QAPS client in Feb. 2026; formally qualified as a supplier to five of the top 10 global IVD test makers in Sep. 2026.

• Growth priorities include expanding QAP adoption within 100+ existing diagnostic customers, winning new high-value accounts and launching controls for molecular, point-of-care and multiplex testing.

• Three facilities, automation and regulatory infrastructure are positioned to support $100M+ revenue without major capex; current net earnings breakeven estimated at ~$22M annual revenue.

Financial position and capital allocation

• Total liquidity of ~$11M, low leverage at D/E ~0.40, and significant operating leverage at higher revenue levels.

• More than 12.5M shares repurchased and cancelled since Oct. 2022; insider ownership ~16%, with an active NCIB for up to 5% of issued shares annually.

• Net earnings were C$3.5M in FY2024, C$(2.2)M in FY2025 and C$(3.4)M for the nine months ended June 30, 2026; EBITDA was C$5.5M, C$0.1M and C$(1.4)M, respectively.