Daxor (DXR) Q4 2025 earnings summary

Executive summary

• Achieved a transformative year with significant operating division growth and a substantial increase in total net assets, driven by strategic realignment and FDA 510(k) clearance for a next-generation analyzer.

Financial highlights

• Total net assets reached $45,887,266 as of December 31, 2025, up over $10 million year-over-year.

• Net asset value per share rose to $9.07, a $1.82 increase from the prior year.

• Net realized gains on investment activity totaled $745,334 for the year.

• Operating revenues increased by 45% year-over-year, driven by diagnostic kit sales, new accounts, and military contracts.

• Operating loss improved to $268,598 from $1,614,545 in 2024, despite continued investment in R&D and expansion.

Outlook and guidance

• Positioned for accelerated market expansion with a new 20,000-square-foot manufacturing facility and ISO certification.

• Strategic focus shifted entirely to the core blood volume business following divestment of remaining investment positions.