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Scientific Industries, Inc. is a global leader in the design, manufacture, and marketing of benchtop laboratory equipment, bioprocessing systems, and catalyst research instruments. Their innovative products include vortex mixers, shakers, rotators, incubators, magnetic stirrers, and more. The company recently reported growth in benchtop lab equipment revenue led by a 48% increase in the Torbal Division. With a focus on digital bioprocessing solutions, they are driving market adoption and developing cutting-edge products to meet customer needs.
Scientific Industries (SCND) reported Q3 2024 financial results with net revenues of $2.8M, up 7.1% YoY. The company's Bioprocessing Systems Operations showed three consecutive quarters of growth, with Q3 revenues up 6.6% to $452.5K. Gross margins improved 350 basis points to 49.2%. Operating expenses decreased by 23% to $2.6M, while net loss reduced by 46% to $1.18M. The company's DOTS MPS system was validated for mammalian cell culture use, and a new VIVID WORKSTATION targeting pharmacy chains is set to launch. Working capital stood at $8.0M as of September 30, 2024.
Scientific Industries (OTCQB: SCND) announced it will file Form 10Q on November 14, 2024, for its third quarter financial results ended September 30, 2024. The company will release Q3 2024 results before market open on November 15, 2024, followed by a conference call at 11:00 AM ET. The call will be accessible via phone at (844) 481-2706 or (412) 317-0662 (international) and through webcast on the company's Investor Relations page. A replay will be available until November 22, 2024.
Scientific Industries (OTCQB:SCND), a life sciences tool provider and developer of simplified bioprocessing products, will participate in the Craig-Hallum Bioprocessing Conference on September 19, 2024. John Nicols, Chairman of Scientific Bioprocessing (SBI), and John Moore, Chairman of the Company, will be featured in a fireside chat at 12:30 p.m. ET.
The conference will be held virtually, and a replay of the fireside chat will be available on the Company's investor website after the event. This presentation offers an opportunity for investors to gain insights into Scientific Industries' latest developments and strategies in the bioprocessing sector.
Scientific Industries (OTCQB:SCND) reported financial results for Q2 2024, ending June 30. Key highlights include:
- Net revenues: $2.6M (Q2) and $5.1M (H1), down 11.2% and 12.8% YoY respectively
- Gross profit margin: 48.8% (Q2), up 350 basis points YoY
- Operating expenses decreased by 26.5% (Q2) and 22% (H1) YoY
- Net loss reduced to $1.28M (Q2) and $3.34M (H1), improvements of 44% and 28% YoY
- Cash and investments totaled $3.9M with $8.6M working capital
The company saw strong pipeline growth for Bioprocessing DOTS MPS and Torbal VIVID products, with cost-saving initiatives significantly improving financial results.
Scientific Industries (OTCQB:SCND), a life sciences tool provider and developer of digitally simplified bioprocessing products, has announced plans to file its Form 10Q on August 14, 2024, for the second quarter ended June 30, 2024. The company will issue a press release reporting its Q2 2024 results before the market opens on August 15, 2024.
A conference call for investors will be held on August 15, 2024, at 11:00 AM Eastern Time. Interested parties can dial (844) 481-2706 or (412) 317-0662 (international) to participate. A live webcast will also be available on the company's Investor Relations page. A replay of the call will be accessible through August 23, 2024.
Scientific Industries (OTCQB:SCND) will participate in the Lytham Partners Spring 2024 Investor Conference on May 30, 2024. The life sciences tool provider will host a webcasted presentation at 2:45 PM ET and engage in one-on-one virtual meetings with investors. The webcast can be accessed on the conference homepage or directly through the provided link. This event allows the company to present its digitally simplified bioprocessing products and engage directly with potential investors.
Scientific Industries (OTCQB:SCND) reported financial results for Q1 of fiscal year 2024, ending March 31, 2024.
Net revenues decreased by 11.5% to $2.5 million from $2.8 million in the prior year period. Bioprocessing Systems Operations revenues increased by 42% to $316,100, while Benchtop Laboratory Equipment revenues decreased by 15% to $2.2 million.
Gross profit decreased by 24% to $1.0 million, with a gross margin of 42%, down from 48% in the prior year period. Operating expenses decreased by 17.7%, resulting in a reduced loss from operations of $2.05 million compared to $2.37 million in the previous year.
The company shipped its first Multi-Parameter Sensor (MPS) under the DOTS platform in April 2024 and completed an equity financing in Q1 2024. Cash, cash equivalents, and investments totaled $4.8 million as of March 31, 2024.
Scientific Industries, Inc. (OTCQB:SCND) will host an investor call on May 16, 2024, to discuss its first quarter financial results. The company plans to file Form 10Q on May 15, 2024, and issue a press release on May 16, 2024, reporting its Q1 2024 results. Interested parties can participate in the call by dialing (844) 481-2706 or (412) 317-0662 (international) or via live webcast. A replay will be available until May 23, 2024.
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