Enzo Biochem (ENZ) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 FY2025 was $6.2 million, a 20% year-over-year decline due to reduced orders and market headwinds in the life sciences tools sector.

• Net loss from continuing operations improved to $3.1 million from $5.7 million in the prior year quarter.

• Net cash used in operating activities decreased by $4.4 million compared to the prior year.

• Ended the quarter with $47.7 million in cash and cash equivalents, down from $52.3 million at July 31, 2024.

• Paid a $0.10 per share cash dividend in December 2024.

Financial highlights

• Revenues were $6.2 million, down from $7.8 million year-over-year.

• Gross margin declined to 37% from 44% year-over-year, impacted by inventory disposals.

• Operating loss narrowed to $3.6 million from $5.5 million year-over-year.

• Total net loss was $3.4 million ($0.07 per share), compared to $6.6 million ($0.13 per share) in the prior year.

• Adjusted net loss for the quarter was $2.5 million ($0.05 per share), excluding discrete legal matters, inventory provision, and discontinued operations.

Outlook and guidance

• Management believes current working capital is sufficient to meet operating requirements for at least the next twelve months.

• The company continues to face headwinds in the life sciences tools market, impacting demand.

• Forward-looking statements caution about risks related to market conditions, costs, regulations, and general business environment.