MedMira Reports FY2025 Fourth Quarter and Year End Financial Results

Executive Summary

• MedMira reported FY2025 financial results showing a revenue decline to $240,509 and a net loss of $4.52 million, widening from the prior year.
• The company launched Health Canada‑approved Multiplo® Rapid TP/HIV test and new generation Reveal® Rapid HIV test in Canada, and received additional approval for its Reveal® TP (Syphilis) rapid test.
• Significant regulatory and commercial milestones were achieved in the U.S., including VA and Federal listings, expansion of distribution partners, and progress on clinical trials for Multiplo® Complete Syphilis and self‑test versions.

Key Details

• Revenue: $240,509 in FY2025 vs. $412,568 in FY2024.
• Gross Profit: $172,851 (72% margin) vs. $226,489 (55% margin) FY2024.
• Operating Expenses: $3,762,598, up from $2,799,485 FY2024 (driven by R&D and sales/marketing).
• Net Loss: $4,524,407 for FY2025 vs. $3,326,321 FY2024.
• Assets: Decreased by $2,387,859 year‑over‑year, primarily due to lower cash balances.
• Liabilities: Increased by $2,136,548 (≈9%) driven by higher short‑term debt, trade payables, and accrued liabilities.
• Working Capital Deficit: $3,141,511, an 18% increase versus the prior year.
• Product Launches (Canada):
• Multiplo® Rapid TP/HIV Test – Health Canada approved.
• Reveal® Rapid HIV Test – latest generation released.
• Reveal® TP (Syphilis) rapid test – newly approved, fastest syphilis antibody test in Canada; provincial validation completed and rollout to buying groups underway.
• U.S. Milestones:
• VA and Federal listings achieved, positioning the company for multi‑year contracts.
• Expanded distribution network targeting VA, Federal, and State contracts.
• Ongoing bids using FDA‑approved Reveal® G4 HIV‑1/2 rapid test; contract details to be disclosed when awarded.
• Clinical Trials:
• Completed Phase 1 of Multiplo® Complete Syphilis (TP/nTP) antibody test in Canada; independent publication expected Dec 2025.
• Initiated Phase 2 of the same trial, targeted completion Q1 2026.
• Began clinical trials for Multiplo® TP/HIV rapid test for self‑test use in Canada.
• MiROQ Technology Development:
• Working on commercial prototype and AI‑enabled software with a strategic partner to accelerate market entry of the quantitative diagnostic platform, aimed at cancer diagnostics and broader RVF technology applications.

Notable Quotes

(No direct quotes were provided in the release.)