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Microbix Biosystems Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary18 Dec, 2025
Executive summary
Fiscal year revenue declined 27% year-over-year, with a net loss of $2.2 million compared to net income of $3.5 million in 2024, mainly due to the loss of major clients, a canceled instrument development program, and reduced antigen sales in China.
Excluding the loss of Kinlytic and China distribution, other revenue areas grew 12% year-over-year.
Operational improvements included higher batch yields, reduced batch failures, and expanded recombinant antigen capabilities.
Management is focused on expanding product offerings and client base to recover revenue above breakeven.
The company is positioned for recovery in fiscal 2026, with a strong balance sheet and a robust business development pipeline.
Financial highlights
Total revenues declined 27% year-over-year, mainly due to the absence of CAD 4.1 million Kinlytic revenue and the loss of key clients.
Gross margin decreased to 53% from 61% last year; Q4 gross margin was 40%, down from 55% in Q4 2024.
Operating expenses increased by 4%, driven by higher R&D and trade show spending.
Maintained a cash balance of over CAD 12 million ($12.1 million) at fiscal year-end.
Q4 revenue was $3.7 million, a 41% decrease year-over-year; Q4 net loss was $1.5 million versus net income of $0.4 million in Q4 2024.
Outlook and guidance
Recovery from the Q3 revenue setback is underway, with quarterly profitability targeted for Q4 of fiscal 2026.
Revenues for fiscal 2026 are expected to be substantially higher than the CAD 14 million baseline, based on signed contracts.
Sufficient financial resources are available to execute current plans, with access to up to CAD 24 million in liquidity.
No plans to issue new equity; share buybacks will continue.
Aggressive pursuit of new client programs and product expansion to drive sales growth and improve margins.
China antigen sales: mitigation for infection impact?
What is the plan to offset QAPs program loss?
How will Kinlytic create shareholder value?
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Next Microbix Biosystems earnings date
Q1 202612 Feb, 2026
Next Microbix Biosystems earnings date
Q1 202612 Feb, 2026
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Frequently asked questions
Microbix Biosystems Inc. is a life sciences company that develops and commercializes a range of proprietary biological and technological solutions aimed at improving human health and wellbeing. The company, established in 1988, has a focus on the global diagnostics industry, producing high-quality biological materials. These include antigens used in immunoassays and various Quality Assessment and Proficiency (QAPs) testing products. Microbix Biosystems also manufactures diagnostic-test products, including test-controls under the QAPs brand and viral transport mediums used for collecting patient samples. Additionally, the company is involved in the development of Kinlytic, a biologic thrombolytic drug for treating blood clots. The company is headquartered in Mississauga, Ontario, Canada, and its shares are listed on the Toronto Stock Exchange.
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