Scientific Industries Reports Financial Results for Fiscal Year Ended December 31, 2024 and Launches DOTS MPS for Cell Culture Biopharma Market
Scientific Industries (SCND) reported financial results for fiscal year 2024, showing mixed performance across divisions. The company's Bioprocessing Systems Operations achieved 24% revenue growth to $1.7M, driven by the newly launched DOTS MPS system. However, overall net revenues decreased 3.6% to $10.7M, with Benchtop Laboratory Equipment sales declining 7% to $9.0M.
The company significantly reduced operating expenses by 21% to $11.4M and cut total net losses by 29% to $6.4M ($0.61 per share). Gross profit was $4.7M with a 44.2% margin. The company maintained a strong financial position with $2.6M in cash and equivalents and $6.5M in working capital.
Key developments include the expansion of DOTS MPS into mammalian cell culture markets, launch of the VIVID WORKSTATION automated pill counter, and planned AI model integration. The company is currently conducting trials with six major pharma companies and plans to launch new products in 2025, including an optical pH sensor and liquid injection system.
Scientific Industries (SCND) ha riportato i risultati finanziari per l'anno fiscale 2024, mostrando prestazioni miste tra le divisioni. Le operazioni di Sistemi di Bioprocessing hanno registrato una crescita del fatturato del 24% a $1,7 milioni, trainata dal nuovo sistema DOTS MPS. Tuttavia, i ricavi netti complessivi sono diminuiti del 3,6% a $10,7 milioni, con le vendite di apparecchiature da laboratorio da banco che sono calate del 7% a $9,0 milioni.
L'azienda ha ridotto significativamente le spese operative del 21% a $11,4 milioni e ha abbattuto le perdite nette totali del 29% a $6,4 milioni ($0,61 per azione). L'utile lordo è stato di $4,7 milioni con un margine del 44,2%. L'azienda ha mantenuto una solida posizione finanziaria con $2,6 milioni in contante e equivalenti e $6,5 milioni in capitale circolante.
Tra gli sviluppi chiave ci sono l'espansione del DOTS MPS nei mercati della coltura cellulare mammifera, il lancio del contatore di pillole automatizzato VIVID WORKSTATION e l'integrazione pianificata di modelli di intelligenza artificiale. L'azienda sta attualmente conducendo prove con sei grandi aziende farmaceutiche e prevede di lanciare nuovi prodotti nel 2025, tra cui un sensore di pH ottico e un sistema di iniezione liquida.
Scientific Industries (SCND) reportó resultados financieros para el año fiscal 2024, mostrando un desempeño mixto entre las divisiones. Las operaciones de Sistemas de Bioprocesamiento lograron un crecimiento del 24% en ingresos, alcanzando $1.7 millones, impulsados por el recién lanzado sistema DOTS MPS. Sin embargo, los ingresos netos totales disminuyeron un 3.6% a $10.7 millones, con las ventas de equipos de laboratorio de sobremesa cayendo un 7% a $9.0 millones.
La empresa redujo significativamente los gastos operativos en un 21% a $11.4 millones y recortó las pérdidas netas totales en un 29% a $6.4 millones ($0.61 por acción). La ganancia bruta fue de $4.7 millones con un margen del 44.2%. La empresa mantuvo una sólida posición financiera con $2.6 millones en efectivo y equivalentes y $6.5 millones en capital de trabajo.
Los desarrollos clave incluyen la expansión del DOTS MPS a los mercados de cultivo celular de mamíferos, el lanzamiento del contador de píldoras automatizado VIVID WORKSTATION y la integración planificada de modelos de inteligencia artificial. La empresa está llevando a cabo ensayos con seis grandes compañías farmacéuticas y planea lanzar nuevos productos en 2025, incluyendo un sensor de pH óptico y un sistema de inyección líquida.
Scientific Industries (SCND)는 2024 회계연도 재무 결과를 보고하며, 부서별로 혼합된 성과를 보여주었습니다. 회사의 생물공정 시스템 운영은 새로 출시된 DOTS MPS 시스템에 힘입어 24%의 수익 성장을 기록하며 $1.7M에 도달했습니다. 그러나 전체 순수익은 3.6% 감소하여 $10.7M에 이르렀고, 벤치탑 실험실 장비 판매는 7% 감소하여 $9.0M에 그쳤습니다.
회사는 운영 비용을 21% 줄여 $11.4M로 낮추었고, 총 순손실을 29% 줄여 $6.4M($0.61 per share)로 감소시켰습니다. 총 이익은 $4.7M이며, 44.2%의 마진을 기록했습니다. 회사는 $2.6M의 현금 및 현금성 자산과 $6.5M의 운전 자본을 보유하며 강력한 재무 상태를 유지하고 있습니다.
주요 개발 사항으로는 DOTS MPS의 포유류 세포 배양 시장으로의 확장, VIVID WORKSTATION 자동 알약 카운터의 출시, 그리고 계획된 AI 모델 통합이 있습니다. 회사는 현재 6개의 주요 제약회사와 시험을 진행 중이며, 2025년에 광학 pH 센서 및 액체 주입 시스템을 포함한 신제품을 출시할 계획입니다.
Scientific Industries (SCND) a rapporté des résultats financiers pour l'exercice 2024, montrant des performances mixtes entre les divisions. Les opérations de Systèmes de Bioprocessing de l'entreprise ont réalisé une croissance du chiffre d'affaires de 24 % pour atteindre 1,7 million de dollars, tirée par le nouveau système DOTS MPS. Cependant, les revenus nets globaux ont diminué de 3,6 % pour atteindre 10,7 millions de dollars, les ventes d'équipements de laboratoire de banc ayant baissé de 7 % pour s'établir à 9,0 millions de dollars.
L'entreprise a considérablement réduit ses dépenses d'exploitation de 21 % à 11,4 millions de dollars et a réduit ses pertes nettes totales de 29 % à 6,4 millions de dollars (0,61 $ par action). Le bénéfice brut s'élevait à 4,7 millions de dollars avec une marge de 44,2 %. L'entreprise a maintenu une solide position financière avec 2,6 millions de dollars en liquidités et équivalents et 6,5 millions de dollars en fonds de roulement.
Les développements clés incluent l'expansion du DOTS MPS sur les marchés de culture cellulaire de mammifères, le lancement du compteur de pilules automatisé VIVID WORKSTATION et l'intégration prévue de modèles d'IA. L'entreprise mène actuellement des essais avec six grandes entreprises pharmaceutiques et prévoit de lancer de nouveaux produits en 2025, y compris un capteur de pH optique et un système d'injection liquide.
Scientific Industries (SCND) hat die finanziellen Ergebnisse für das Geschäftsjahr 2024 veröffentlicht, die eine gemischte Leistung über die Divisionen hinweg zeigen. Die Bioprocessing Systems Operations des Unternehmens erzielten ein Umsatzwachstum von 24% auf 1,7 Millionen Dollar, angetrieben durch das neu eingeführte DOTS MPS-System. Allerdings sanken die gesamten Nettoumsätze um 3,6% auf 10,7 Millionen Dollar, wobei die Verkäufe von Tischlaborgeräten um 7% auf 9,0 Millionen Dollar zurückgingen.
Das Unternehmen reduzierte die Betriebskosten erheblich um 21% auf 11,4 Millionen Dollar und senkte die gesamten Nettverluste um 29% auf 6,4 Millionen Dollar (0,61 Dollar pro Aktie). Der Bruttogewinn betrug 4,7 Millionen Dollar mit einer Marge von 44,2%. Das Unternehmen hielt eine starke Finanzlage mit 2,6 Millionen Dollar in Bar und Baräquivalenten sowie 6,5 Millionen Dollar in Betriebskapital aufrecht.
Wichtige Entwicklungen umfassen die Expansion von DOTS MPS in die Märkte für Säugetierzellkultur, die Einführung des automatisierten Pillenzählers VIVID WORKSTATION und die geplante Integration von KI-Modellen. Das Unternehmen führt derzeit Versuche mit sechs großen Pharmaunternehmen durch und plant, 2025 neue Produkte einzuführen, darunter einen optischen pH-Sensor und ein Flüssigkeitsspritzsystem.
- Bioprocessing Systems revenue grew 24% to $1.7M
- Operating expenses reduced by 21% to $11.4M
- Net losses decreased 29% to $6.4M
- Strong working capital position of $6.5M
- DOTS MPS system achieving 2.5x higher pricing than legacy product
- Trials ongoing with six major pharma companies
- Overall net revenues declined 3.6% to $10.7M
- Benchtop Laboratory Equipment sales decreased 7% to $9.0M
- Gross profit margin declined to 44.2% from 45.9%
- Torbal division sales dropped 12% due to pharmacy market challenges
- Genie division sales decreased 4% due to soft market demand
BIOPROCESSING OPERATIONS:
OPERATIONAL EFFICIENCIES CUT TOTAL NET LOSSES BY
LAUNCHED NEW STATE OF THE ART VIVID WORKSTATION
Investor Call to be held Tuesday, April 1st at 11:00 a.m. Eastern Time
BOHEMIA, N.Y., March 31, 2025 (GLOBE NEWSWIRE) -- Scientific Industries, Inc. (OTCQB: SCND), a life sciences tool provider, and a developer of digitally simplified bioprocessing products, today reported financial results for the fiscal year ended December 31, 2024.
Business Highlights
- The Company’s Bioprocessing Systems Operations expanded its DOTS MPS system into the mammalian cell culture biopharma market
- The Company successfully launched the new VIVID WORKSTATION automated pill counter in February
- The Company’s Bioprocessing Systems has several new products in the pipeline for launch in 2025
- The Company is expanding its VIVID WORKSTATION to include a Machine Learning (AI) model for launch at end of 2025
Full Year Overview – 12/31/24 compared to 12/31/23
- Net revenues totaled
$10.7 million compared to$11.1 million .- Benchtop Laboratory Equipment Operations net sales were
$9.0 million compared to$9.7 million . - Bioprocessing Systems Operations net sales were
$1.7 million compared to$1.4 million .
- Benchtop Laboratory Equipment Operations net sales were
- Gross profit was
$4.7 million compared to$5.1 million . - Total operating expenses were
$11.4 million compared to$14.4 million .
Management Discussion
John Moore, Chairman, said, “2024 marked a milestone with the first commercial impact of our
Helena Santos, Chief Executive Officer of Scientific Industries, stated, “I am pleased that approximately
“We are excited about the recent successful launch of our state-of-the-art VIVID WORKSTATION automated pill counter, and the anticipated launch of a new machine learning (AI) model pill counter. This "All-in-one Pill Counter" combines high-precision pill counting with a powerful PC, enabling pharmacists to more efficiently manage workflows and run pharmacy software directly on a single machine. The VIVID WORKSTATION combined with our portfolio of bioprocessing products, strategically positions the Company to offer a range of AI-enabled or enabling products in the future.”
Twelve Months Ended 12/31/24 Financial Review
Net revenues for the twelve months ended December 31, 2024 were
The Company recorded a gross profit for the twelve months ended December 31, 2024 of
Operating expenses for the twelve months ended December 31, 2024 decreased significantly by
The Company posted a decrease in net loss of
As of December 31, 2024, the Company’s cash, cash equivalents and investments totaled
Conference Call Details
Scientific Industries will conduct a conference call to discuss financial results for the fiscal year 2024 on Tuesday, April 1, 2025, at 11:00 A.M. ET. Interested parties can access the conference call by dialing (844) 481-2706 or (412) 317-0662 (international). A webcast of the call will be available on the Company’s Investor Relations page at https://www.scientificindustries.com/investor-relations/ or at https://app.webinar.net/daAynb9zoVb A replay of the call will be available through April 8, 2025, at (877) 344-7529 or (412) 317-0088 (international), replay access code: 5386776, or for 30 days at https://www.scientificindustries.com/investor-relations/.
About Scientific Industries, Inc.
Scientific Industries (OTCQB: SCND), is a life science tool provider. It designs, manufactures, and markets laboratory equipment, including the world-renowned Vortex-Genie® 2 Mixer and Torbal® balances, and bioprocessing systems under the product name DOTS. Scientific Industries’ products are generally used and designed for research purposes in laboratories of universities, hospitals, pharmaceutical companies, medical device manufacturers, and pharmacies. To learn more, visit www.scientificindustries.com.
About Scientific Bioprocessing, Inc.
Scientific Bioprocessing, Inc. (“SBI”) is dedicated to pioneering digitally simplified bioprocessing by providing actionable insights from lab to production floor. With a broad portfolio of state-of-the-art bioprocess sensors and actuators as well as innovative data analytics software, SBI helps scientists and engineers in bioprocessing to monitor and control critical process parameters and product quality attributes. SBI is a subsidiary of Scientific Industries Inc. (OTCQB: SCND). To learn more, visit www.scientificbio.com.
Safe Harbor Statement
Statements made in this press release that relate to future events, performance or financial results of the Company are forward-looking statements which involve uncertainties that could cause actual events, performance or results to materially differ. The Company undertakes no obligation to update any of these statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Accordingly, any forward-looking statement should be read in conjunction with the additional information about risks and uncertainties set forth in the Company's Securities and Exchange Commission reports, including our annual report on Form 10-K.
| Company Contact: | |
| Helena R. Santos | or: |
| CEO and President | Joe Dorame |
| Phone: 631-567-4700 | Lytham Partners, LLC |
| hsantos@scientificindustries.com | Phone: (602)889-9700 |
| info@scientificindustries.com | SCND@lythampartners.com |
| ---FINANCIAL TABLES FOLLOW— | |
| SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES | |||||||
| CONDENSED BALANCE SHEETS | |||||||
| 31-Dec-24 | 31-Dec-23 | ||||||
| ASSETS | |||||||
| Cash and Cash Equivalents | $ | 587,900 | $ | 796,100 | |||
| Investment Securities | 1,985,000 | 4,928,700 | |||||
| Other Current Assets | 5,714,800 | 6,615,900 | |||||
| Intangibles Assets and Goodwill | 867,600 | 1,365,200 | |||||
| Other Long Term Assets | 2,405,500 | 3,024,600 | |||||
| Total Assets | $ | 11,560,800 | $ | 16,730,500 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Current Liabilities | $ | 1,747,000 | $ | 1,837,300 | |||
| Long-Term Liabilities | 694,400 | 1,007,800 | |||||
| Shareholders' Equity | 9,119,400 | 13,885,400 | |||||
| Total Shareholders' Equity & Liabilities | $ | 11,560,800 | $ | 16,730,500 | |||
| SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES | |||||||
| CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS | |||||||
| 31-Dec-24 | 31-Dec-23 | ||||||
| Revenues | $ | 10,712,600 | $ | 11,111,500 | |||
| Gross Profit | 4,733,600 | 5,102,000 | |||||
| Operating Expenses | 11,371,800 | 14,361,900 | |||||
| Loss From Operations | (6,638,200 | ) | (9,259,900 | ) | |||
| Total Other Income, Net | 192,800 | 170,100 | |||||
| Loss From Continuing Operations Before Income Tax expense | (6,445,400 | ) | (9,089,800 | ) | |||
| Total Income Tax Expense | - | - | |||||
| Loss From Continuing Operations | (6,445,400 | ) | (9,089,800 | ) | |||
| Gain From Discontinued Operations, Net of Tax | 3,300 | ||||||
| Net Loss | (6,445,400 | ) | (9,086,500 | ) | |||
| Comprehensive Gain (Loss) | (131,700 | ) | 27,000 | ||||
| Total Comprehensive Loss | $ | (6,577,100 | ) | $ | (9,059,500 | ) | |
| Basic and Diluted Loss Per Common Share: | |||||||
| Continuing Operations | $ | (0.61 | ) | $ | (1.27 | ) | |
| Discontinued Operations | $ | - | $ | - | |||
| Consolidated Operations | $ | (0.61 | ) | $ | (1.27 | ) | |
| Weighted average number of outstanding shares : | 10,503,599 | 10,145,211 | |||||
FAQ
What was SCND's revenue performance in fiscal year 2024?
How much did SCND reduce its net losses in 2024?
What is the pricing strategy for SCND's new DOTS MPS system?
What new products is SCND planning to launch in 2025?
How much of SCND's Bioprocessing Systems Operations sales came from DOTS MPS in 2024?
