Microbix Reports Results for Q1 2026

Executive Summary

• Microbix Biosystems reported Q1 FY2026 revenue of $4.22 M, a 13% increase versus the prior quarter but a 30% decline year‑over‑year, and posted an operating and net loss of $1.17 M.
• Gross margin fell to 41% from 62% YoY due to lower product volumes and higher fixed cost absorption; SG&A expenses were flat while financing costs rose.
• The company highlighted a strategic focus on acquiring new client programs, expanding its product portfolio (including Kinlytic®), and will host a webcast on the results at 10:00 AM ET on February 12 2026.

Key Details

• Revenue: $4,218,909 (Q1 FY2026) vs. $6,044,002 (Q1 FY2025).
• Segment Breakdown:
• Antigen revenues: $2,174,357 (down 49% YoY, reflecting a C$2 M reduction in sales to a Chinese distributor).
• QAPs™ revenues: $1,876,276 (up 15% YoY, driven by doubled sales of REDx™ & PROCEEDx™).
• Royalties: $168,276 (up from $150,263 YoY).
• Gross Margin: $1,733,467 (41% margin) vs. $3,752,680 (62% margin) in Q1 FY2025.
• Operating Expenses: SG&A $2,125,595; R&D $557,066; Financial expenses $180,196.
• Net Loss: $(1,167,177) versus net income of $856,962 in Q1 FY2025.
• Cash Flow: Cash used by operating activities $(2,602,403); cash balance at period end $9,097,580 (down from $12,112,760).
• Balance Sheet Highlights (Dec 31 2025):
• Current assets: $23,041,460; current liabilities: $3,067,347 → Current ratio 7.51.
• Total assets: $36,590,575; total liabilities: $9,983,398 → Debt‑to‑equity 0.38.
• Accounts Receivable: Increased by $2,373,886 YoY to $3,984,395, driving cash consumption.
• Outlook: Management expects FY2026 results to be “in‑line” with prior guidance and is pursuing new client programs and product development (including Kinlytic®).
• Webcast Announcement: Q1 2026 results webcast at 10:00 AM ET on Feb 12 2026; registration link provided.

Notable Quotes

(No direct quotes were included in the release.)