REPEAT - Biomerica Reports First Quarter 2024 Financial Results - Seite 2

First Quarter Fiscal 2024 Financial Results

Net sales for the fiscal first quarter 2024 were $1.7 million, up from $1.6 million for the fiscal first quarter of 2023. Further, excluding sales of Covid related products during fiscal first quarter 2023, net sales for the fiscal first quarter 2024 were 16.3% higher than sales during fiscal first quarter of 2023. All revenues are now coming from products that focus on existing and largely unmet IBS, GI, colorectal and other health-related sales expansion opportunities. With a tight focus on controlling expenses while growing sales, total operating expenses for the quarter were $1.6 million, down from $2.0 million for the year-ago quarter.

As a result of carefully managing operating expenses while maintaining top-line revenue growth toward achieving profitability, net loss for the fiscal first quarter of 2024 was $1.1 million, or approximately 48% lower than the net loss of $2.1 million reported in the fiscal first quarter of 2023. As of August 31, 2023, the Company had cash and equivalents of $8.0 million.

Selected Financial Result		Quarter Ended			Quarter Ended
		August 31, 2023			August 31, 2022
(Numbers in millions, except percentages)
Revenue		$1.7			$1.6
Gross margin		24.1%			(3.4%	)
Operating expenses		$1.6			$2.0
Operating loss		($1.2	)		($2.1	)
Net Loss		($1.1	)		($2.1	)
Cash and equivalents, restricted cash, and short-term investments		$8.0			$6.1

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