Biosyent (RX) Q1 2025 earnings summary

Executive summary

• Achieved record Q1 2025 sales of $10.98M, up 42% year-over-year, driven by growth in both Canadian and international pharmaceutical sales.

• EBITDA increased 45% year-over-year, with a 29% margin to revenue.

• Net income after tax rose to $2.32M, representing a 21% margin and a 31% increase over Q1 2024.

• 59 consecutive profitable quarters since Q2 2010, with fully diluted EPS (TTM) reaching $0.67.

• FeraMAX® named the number one recommended oral iron supplement in Canada for the tenth consecutive year.

Financial highlights

• Q1 2025 gross margin was 76%, with gross profit of $8.34M.

• Cash and investments at March 31, 2025 were $27.8M, with no debt and working capital of $22.8M.

• TTM cash from operations was $7.0M; TTM dividends $2.1M; TTM share buybacks $4.1M.

• Shareholders’ equity rose to $36.01M at March 31, 2025.

• Dividend increased 11% year-over-year to $0.05 per share, with $573K paid in Q1 2025.

Outlook and guidance

• Revenue and profit growth expected to continue in 2025, with a solid start to the year.

• Order book and production scheduling filled for the remainder of 2025 and into Q1 2026, with Tibelia® Global orders booked for Q2–Q4 2025.

• Additional FeraMAX® product development underway, targeting a 2026 launch.

• Q2 2025 dividend of $0.05/share declared, reflecting confidence in ongoing cash generation.

• Management focused on pharmaceutical business growth, new product launches, and international expansion.