Nanalysis Scientific (NSCI) LD Micro 20th Annual Main Event Conference summary

Business and financial position

• Trailing 12-month revenue was ~CAD 40 million, with positive EBITDA; Q3 financials were expected at the end of November 2026.

• The portfolio has sold more than 1,200 portable instruments worldwide, at an average selling price of ~CAD 100,000; product gross margin was cited at 65% in Q&A and affirmed by the CEO.

• Human-focused MRI technology accounted for ~CAD 2 million of trailing 12-month revenue; healthcare products are being developed with partners, including IMRIS.

• Outstanding shares totaled 135 million; market capitalization was cited at ~$11 million.

Products and market opportunity

• Portable, helium-free benchtop MRI instruments bring molecular analysis to industrial, pharma, food, chemical and law-enforcement settings; stated average selling price is ~CAD 100,000.

• Scientific instrumentation spending exceeds $75 billion annually; the addressable market was estimated at ~$4 billion and growing.

• Sales reach customers directly in the U.S., Canada and several European markets, with local dealers serving markets including Japan, Indonesia and Brazil.

• Calgary manufacturing is vertically integrated; in-house, patent-protected technology supports control of IP, costs and quality.

• An FDA software compliance module was planned for a future launch, enabling instruments to serve quality-control as well as R&D environments.

Services strategy and growth

• A CAD 160 million Canadian government contract covers installation, removal and servicing of equipment across 90 airports; the stated service billing rate can exceed CAD 300 per hour.

• Airport-contract gross margin had reached ~20%, with a target of ~30%; management described the contract as currently profitable.

• Long-term vision is a 50% product and 50% services revenue mix; service-led security relationships may create openings for portable MRI sales, with U.S. airport expansion an aspiration.

• Management said revenue growth could drive EBITDA increases by multiples, given the lower cost structure; scaling manufacturing was expected to require incremental investments of hundreds of thousands of dollars.

• Over a three-to-four-year horizon, management aims to double the business through new magnetic-resonance products and expansion into service verticals.