Enzo Biochem Reports Second Quarter Fiscal Year 2025 Results
Enzo Biochem (NYSE: ENZ) reported Q2 FY2025 financial results showing sequential improvements. Q2 revenue reached $7.3 million, up 18% from Q1's $6.2 million, though down 14% year-over-year. Gross margin improved to 52% from 37% in Q1 2025 and 49% in Q2 2024.
The Life Sciences Products segment achieved a $0.5 million operating profit in Q2, marking a $2M improvement from Q1's $1.5M loss. Cost efficiency measures reduced cost of revenues by 14%, while SG&A and R&D expenses decreased by 22% and 27% respectively.
The company ended Q2 with $40.3 million in cash. A class-wide settlement of $7.5M related to an April 2023 cyber incident was reached, with an initial $0.8M payment made. ENZ submitted a plan to address NYSE listing compliance issues regarding market capitalization, stockholder's equity, and stock price deficiencies.
Enzo Biochem (NYSE: ENZ) ha riportato i risultati finanziari del secondo trimestre dell'anno fiscale 2025, mostrando miglioramenti sequenziali. Le entrate del secondo trimestre hanno raggiunto 7,3 milioni di dollari, con un aumento del 18% rispetto ai 6,2 milioni di dollari del primo trimestre, anche se in calo del 14% rispetto all'anno precedente. Il margine lordo è migliorato al 52%, rispetto al 37% del primo trimestre 2025 e al 49% del secondo trimestre 2024.
Il segmento Prodotti per le Scienze della Vita ha registrato un utile operativo di 0,5 milioni di dollari nel secondo trimestre, segnando un miglioramento di 2 milioni di dollari rispetto alla perdita di 1,5 milioni di dollari del primo trimestre. Le misure di efficienza dei costi hanno ridotto il costo delle entrate del 14%, mentre le spese SG&A e R&D sono diminuite rispettivamente del 22% e del 27%.
La società ha chiuso il secondo trimestre con 40,3 milioni di dollari in cassa. È stato raggiunto un accordo di classe di 7,5 milioni di dollari relativo a un incidente informatico dell'aprile 2023, con un pagamento iniziale di 0,8 milioni di dollari effettuato. ENZ ha presentato un piano per affrontare le questioni di conformità alla quotazione NYSE riguardanti la capitalizzazione di mercato, il patrimonio netto degli azionisti e le carenze del prezzo delle azioni.
Enzo Biochem (NYSE: ENZ) informó los resultados financieros del segundo trimestre del año fiscal 2025, mostrando mejoras secuenciales. Los ingresos del segundo trimestre alcanzaron 7.3 millones de dólares, un aumento del 18% en comparación con los 6.2 millones del primer trimestre, aunque disminuyeron un 14% en comparación con el año anterior. El margen bruto mejoró al 52%, frente al 37% del primer trimestre de 2025 y al 49% del segundo trimestre de 2024.
El segmento de Productos de Ciencias de la Vida logró un beneficio operativo de 0.5 millones de dólares en el segundo trimestre, marcando una mejora de 2 millones de dólares respecto a la pérdida de 1.5 millones del primer trimestre. Las medidas de eficiencia de costos redujeron el costo de los ingresos en un 14%, mientras que los gastos de SG&A y I+D disminuyeron un 22% y un 27% respectivamente.
La compañía cerró el segundo trimestre con 40.3 millones de dólares en efectivo. Se alcanzó un acuerdo de clase de 7.5 millones de dólares relacionado con un incidente cibernético de abril de 2023, con un pago inicial de 0.8 millones de dólares realizado. ENZ presentó un plan para abordar los problemas de cumplimiento de la cotización de NYSE relacionados con la capitalización de mercado, el patrimonio neto de los accionistas y las deficiencias en el precio de las acciones.
Enzo Biochem (NYSE: ENZ)는 2025 회계연도 2분기 재무 결과를 발표하며 순차적인 개선을 보여주었습니다. 2분기 수익은 730만 달러에 달하며, 1분기의 620만 달러에 비해 18% 증가했지만, 전년 대비 14% 감소했습니다. 총 이익률은 2025년 1분기의 37%와 2024년 2분기의 49%에서 52%로 개선되었습니다.
생명과학 제품 부문은 2분기에 50만 달러의 운영 이익을 기록하여 1분기의 150만 달러 손실에서 200만 달러 개선되었습니다. 비용 효율성 조치로 인해 수익 비용이 14% 감소했으며, SG&A 및 R&D 비용은 각각 22% 및 27% 감소했습니다.
회사는 2분기를 4030만 달러의 현금으로 마감했습니다. 2023년 4월 사이버 사건과 관련된 750만 달러의 클래스 전역 합의가 이루어졌으며, 초기 80만 달러의 지급이 이루어졌습니다. ENZ는 시장 자본화, 주주 자본 및 주가 결함과 관련된 NYSE 상장 준수 문제를 해결하기 위한 계획을 제출했습니다.
Enzo Biochem (NYSE: ENZ) a annoncé les résultats financiers du deuxième trimestre de l'exercice 2025, montrant des améliorations séquentielles. Les revenus du deuxième trimestre ont atteint 7,3 millions de dollars, en hausse de 18 % par rapport aux 6,2 millions de dollars du premier trimestre, bien qu'en baisse de 14 % par rapport à l'année précédente. La marge brute s'est améliorée à 52%, contre 37 % au premier trimestre 2025 et 49 % au deuxième trimestre 2024.
Le segment Produits des Sciences de la Vie a réalisé un bénéfice opérationnel de 0,5 million de dollars au deuxième trimestre, marquant une amélioration de 2 millions de dollars par rapport à la perte de 1,5 million de dollars du premier trimestre. Les mesures d'efficacité des coûts ont réduit le coût des revenus de 14 %, tandis que les dépenses SG&A et R&D ont diminué respectivement de 22 % et 27 %.
L'entreprise a terminé le deuxième trimestre avec 40,3 millions de dollars en liquidités. Un règlement de classe de 7,5 millions de dollars lié à un incident de cybersécurité d'avril 2023 a été atteint, avec un paiement initial de 0,8 million de dollars effectué. ENZ a soumis un plan pour traiter les problèmes de conformité à la cotation NYSE concernant la capitalisation boursière, les capitaux propres des actionnaires et les déficits de prix des actions.
Enzo Biochem (NYSE: ENZ) hat die finanziellen Ergebnisse für das zweite Quartal des Geschäftsjahres 2025 veröffentlicht, die sequenzielle Verbesserungen zeigen. Der Umsatz im zweiten Quartal erreichte 7,3 Millionen Dollar, was einem Anstieg von 18% im Vergleich zu 6,2 Millionen Dollar im ersten Quartal entspricht, obwohl er im Vergleich zum Vorjahr um 14% gesunken ist. Die Bruttomarge verbesserte sich auf 52% von 37% im ersten Quartal 2025 und 49% im zweiten Quartal 2024.
Das Segment Lebenswissenschaftsprodukte erzielte im zweiten Quartal einen Betriebsgewinn von 0,5 Millionen Dollar, was eine Verbesserung von 2 Millionen Dollar im Vergleich zu einem Verlust von 1,5 Millionen Dollar im ersten Quartal darstellt. Effizienzmaßnahmen reduzierten die Umsatzkosten um 14%, während die SG&A- und F&E-Ausgaben um 22% bzw. 27% sanken.
Das Unternehmen schloss das zweite Quartal mit 40,3 Millionen Dollar in bar. Eine Klassenweite Einigung über 7,5 Millionen Dollar im Zusammenhang mit einem Cybervorfall im April 2023 wurde erzielt, wobei eine erste Zahlung von 0,8 Millionen Dollar geleistet wurde. ENZ reichte einen Plan ein, um die Compliance-Probleme der NYSE-Notierung bezüglich der Marktkapitalisierung, des Eigenkapitals der Aktionäre und der Preisdefizite der Aktien zu adressieren.
- Sequential revenue growth of 18% to $7.3M in Q2
- Gross margin improved to 52% from 37% in Q1
- Life Sciences segment achieved $0.5M operating profit, a $2M improvement
- Strong cash position of $40.3M
- Successful cost reduction across operations
- 14% year-over-year revenue decline
- NYSE listing compliance issues requiring remediation plan
- $7.5M settlement payment for cyber incident
- Continued operating losses in overall operations
Insights
Enzo Biochem's Q2 FY25 results reflect a company in transition, showing sequential improvements while still facing year-over-year challenges. The sequential revenue growth of 18% to
The Life Sciences Products segment achieved an operating profit of
With
The doubling of new product launches suggests management is attempting to strengthen core operations while exploring strategic alternatives, which could potentially include acquisitions, joint ventures, or even a sale of the company. The
While sequential improvements are promising, the delisting risk and year-over-year revenue declines indicate Enzo faces structural challenges that may require more than incremental operational improvements to fully address.
FARMINGDALE, N.Y., March 17, 2025 (GLOBE NEWSWIRE) -- Enzo Biochem, Inc. (NYSE: ENZ) (“Enzo” or the “Company”) today announced financial results for the fiscal second quarter ended January 31, 2025, with sequential quarter improvement in revenue, gross margin and operating profit / loss.
Financial Highlights
- The Company’s second-quarter gross margin percentage of
52% increased sequentially from37% during Q1 2025 and increased from49% during the second quarter of the prior year. These improvements were driven by change in revenues, cost efficiency actions completed, and mix of products sold. - The Enzo Life Sciences Products segment, which excludes discontinued operations and Corporate overhead, achieved a
$0.5 million operating profit during Q2 FY25, a$2M sequential improvement compared to a$1.5 operating loss during Q1 FY25, and a$0.2 million improvement compared to the second quarter of the prior year. These improvements were driven by change in revenues, cost efficiency actions completed, and mix of products sold. - The operating loss results for the first half of FY25 for the Company’s continuing operations improved by
$2.4 million . Through cost containment, the company reduced cost of revenues by14% . In addition, spend in SG&A and R&D decreased by22% and27% , respectively. Product launches continue, despite the reduction in R&D. - The Company’s second-quarter revenue of
$7.3 million increased sequentially by$1.1 million from$6.2 million . This is an improvement of18% . Year-over-year quarterly period revenue declined by14% primarily from the timing of large order fulfillment and the market slowdown in the US. - Enzo ended the second quarter with aggregate cash and cash equivalents of
$40.3 million . The Board of Directors and management continue to be focused on conserving cash. - Product Life Cycle maintenance continues with an increasing number of SKU launches. Enzo increased product launches to bolster the base business within the first half of the fiscal year, doubling the count of new products compared to the prior full year.
Recent Events
- As previously disclosed, the Company and plaintiffs have reached a class-wide settlement agreement pertaining to the April 2023 cyber incident and filed an unopposed motion for preliminary approval with the Court. The Court granted the motion and set a final fairness hearing on June 10, 2025. The settlement value of
$7.5 million had been accrued for in our prior year financial statements and an initial payment was made subsequent to January 31, 2025 in an amount of$0.8 million . - We continue to explore all strategic alternatives to maximize value for the Company’s stockholders, including without limitation, improving the market position and profitability of our services in the marketplace, and enhancing our valuation. We may pursue our goals through organic growth and strategic initiatives. Additionally, we will continue to review information regarding potential acquisitions or joint ventures, and provide information to third parties regarding potential dispositions of assets or business lines, including a potential sale of the Company, from time to time.
- The Company submitted a plan on February 21, 2025 to cure the market capitalization, stockholder’s equity and average closing stock price deficiencies and to return to compliance with the NYSE's continued listing standards. The plan considers all available alternatives to cure the deficiencies identified by the NYSE, which plan is being reviewed by the NYSE. The Common Stock continues to be listed and trade on the NYSE, subject to the Company’s ongoing compliance with the NYSE's other continued listing standards and the acceptance by the NYSE of this plan.
Enzo Biochem, Inc. has operated as a life sciences company for over 45 years. The primary business of Enzo today is conducted through its Life Sciences division, Enzo Life Sciences, which focuses on labeling and detection technologies from DNA to whole cell analysis, including a comprehensive portfolio of thousands of high-quality products, including antibodies, genomic probes, assays, biochemicals, and proteins. The Company’s proprietary products and technologies play central roles in translational research and drug development areas, including cell biology, genomics, assays, immunohistochemistry, and small molecule chemistry. The Company monetizes its technology primarily via sales through our global distribution network and licensing. For more information, please visit enzo.com or follow Enzo Biochem on X and LinkedIn.
Forward-Looking Statements
Except for historical information, the matters discussed in this release may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management, including those related to cash flow, gross margins, revenues and expenses, which are dependent on a number of factors outside of the control of the Company, including, inter alia, the markets for the Company’s products, cost of goods sold, other expenses, government regulations, litigation, and general business conditions. See Risk Factors in the Company’s Form 10-K for the fiscal year ended July 31, 2024. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. The Company disclaims any obligations to update any forward-looking statement as a result of developments occurring after the date of this release.
Enzo Biochem Contacts
For Enzo Biochem:
Patricia Eckert, Chief Financial Officer
Enzo Biochem
631-755-5500
peckert@enzo.com
Use of Non-GAAP Financial Measures by Enzo
The non-GAAP financial measures contained in this press release (including, without limitation, Adjusted net loss, EBITDA, and Adjusted EBITDA) are not GAAP measures of the Company’s financial performance or liquidity and should not be considered as alternatives to net income (loss) as a measure of financial performance or cash flows from operations as measures of liquidity, or any other performance measure derived in accordance with GAAP. A reconciliation of such non-GAAP measures is included in the presentation of the Company’s financial results for the quarter ended January 31, 2025 contained herein and is also available in the investor relations section of the Company’s website (https://www.enzo.com).
The Company believes the presentation of these non-GAAP measures provides useful additional information to investors because they provide information consistent with that on which management evaluates the financial performance of the Company. The Company manages its business based on its operating cash flows. It refers to EBITDA as its primary indicator of performance and refers to Adjusted EBITDA to further exclude items of a non-recurring nature. It is reasonable to expect that one or more excluded items will occur in future periods, though the amounts recognized can vary significantly from period to period. You are encouraged to evaluate each adjustment used to determine a non-GAAP financial measure and the reasons management considers it appropriate for supplemental analysis. Our presentation of these measures should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items.
We refer you to the tables attached to this press release, which includes reconciliation tables of GAAP net loss to Adjusted net loss and GAAP net loss to EBITDA and Adjusted EBITDA.
| ENZO BIOCHEM, INC. | ||||||||
| (in thousands) | ||||||||
| Selected balance sheet data: | 01/31/2025 (unaudited) | 7/31/2024 (unaudited) | ||||||
| Cash and cash equivalents | $ | 40,297 | $ | 52,371 | ||||
| Working capital | 35,041 | 45,237 | ||||||
| Stockholders' equity | 46,616 | 56,112 | ||||||
| Total assets | 67,510 | 85,764 | ||||||
The following table presents a reconciliation of reported net loss and basic and diluted net loss per share to Adjusted net loss and Adjusted basic and diluted net loss per share for the three months ended January 31, 2025. | |||||
| ENZO BIOCHEM, INC. | |||||
| Non-GAAP Reconciliation Table | |||||
| (Unaudited, in thousands, except per share data) | |||||
| Three months ended | |||||
| January 31, | |||||
| 2025 | |||||
| Reported GAAP loss | $ | (1,535 | ) | ||
| Adjusted for: | |||||
| Discrete legal matters | 251 | ||||
| Net loss from discontinued operations | 287 | ||||
| Discrete separation matters | 23 | ||||
| Adjusted net loss | $ | (974 | ) | ||
| Weighted Shares Outstanding: | |||||
| Basic and diluted | 52,297 | ||||
| Basic and diluted earnings per share: | |||||
| Basic and diluted net loss per share GAAP | ( | ) | |||
| Adjusted basic and diluted net loss per share non-GAAP | ( | ) | |||
The following table presents a reconciliation of reported GAAP net loss for the three months ended January 31, 2025 to EBITDA and Adjusted EBITDA: | ||||
| ENZO BIOCHEM, INC. | ||||
| EBITDA & Adjusted EBITDA Reconciliation Table | ||||
| (Unaudited, in thousands) | ||||
| Three months ended | ||||
| January 31, | ||||
| 2025 | ||||
| GAAP net loss | $ | (1,535 | ) | |
| Plus (minus): | ||||
| Depreciation and amortization | 321 | |||
| Interest (income) expense, net | (462 | ) | ||
| EBITDA | (1,676 | ) | ||
| Adjusted for: | ||||
| Discrete legal matters | 251 | |||
| Discrete separation expenses | 23 | |||
| Net loss from discontinued operations | 287 | |||
| Foreign exchange loss | 234 | |||
Adjusted EBITDA | $ | (881 | ) | |
FAQ
What was Enzo Biochem's (ENZ) revenue in Q2 2025?
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What cost reduction measures did ENZ implement in FY2025?
