Daxor Corporation CEO and President Michael Feldschuh Delivers 1st Half Corporate Update in Shareholder Letter
Daxor Corporation (Nasdaq: DXR), the leader in blood volume measurement technology, released a mid-year shareholder update highlighting significant achievements in 2025. The company secured FDA clearance for its new rapid, lightweight Blood Volume Analysis System in August 2025, which is three times faster and more portable than its predecessor BVA-100.
Financial highlights include a 73% increase in unaudited revenues for H1 2025 compared to H1 2024, driven by diagnostic kit sales and military contracts. The company's net assets grew to $36.6 million, with NAV increasing to $7.15 per share, up $0.40 from June 2024.
Clinical validation strengthened with multiple studies, including research showing 2.61 times better survival in BVA-identified euvolemic heart failure patients. The company expanded market adoption with multiple new facility adoptions across the U.S. in 2025.
Daxor Corporation (Nasdaq: DXR), leader nelle tecnologie di misurazione del volume ematico, ha pubblicato un aggiornamento agli azionisti di metà anno evidenziando risultati rilevanti per il 2025. In agosto 2025 l'azienda ha ottenuto la approvazione FDA per il suo nuovo sistema rapido e leggero di analisi del volume ematico, che è tre volte più veloce e più portatile rispetto al precedente modello BVA-100.
I dati finanziari mostrano una crescita del 73% dei ricavi non verificati nel primo semestre 2025 rispetto al primo semestre 2024, trainata dalle vendite di kit diagnostici e da contratti militari. Gli attivi netti della società sono saliti a $36,6 milioni e il valore patrimoniale netto (NAV) è aumentato a $7,15 per azione, +$0,40 rispetto a giugno 2024.
La validazione clinica si è rafforzata grazie a diversi studi, incluso uno che ha mostrato una sopravvivenza 2,61 volte superiore nei pazienti con scompenso cardiaco euvolemico identificati dal BVA. Nel 2025 l'adozione sul mercato si è ampliata con molteplici nuovi inserimenti in strutture negli Stati Uniti.
Daxor Corporation (Nasdaq: DXR), líder en tecnología de medición del volumen sanguíneo, publicó una actualización semestral para accionistas destacando logros significativos en 2025. En agosto de 2025 la compañía obtuvo la aprobación de la FDA para su nuevo sistema rápido y ligero de Análisis del Volumen Sanguíneo, que es tres veces más rápido y más portátil que su predecesor BVA-100.
Los aspectos financieros incluyen un aumento del 73% en ingresos no auditados en el primer semestre de 2025 frente al primer semestre de 2024, impulsado por ventas de kits diagnósticos y contratos militares. Los activos netos de la compañía crecieron hasta $36,6 millones, y el NAV aumentó a $7,15 por acción, $0,40 más respecto a junio de 2024.
La validación clínica se fortaleció con varios estudios, incluyendo investigaciones que mostraron una supervivencia 2,61 veces mejor en pacientes con insuficiencia cardíaca euvolémica identificados por BVA. La compañía amplió la adopción en el mercado con múltiples nuevas implementaciones en centros en todo Estados Unidos en 2025.
Daxor Corporation (Nasdaq: DXR))는 혈액량 측정 기술 분야의 선두 기업으로서 2025년 중간 주주 업데이트를 발표하며 주요 성과를 강조했습니다. 회사는 2025년 8월에 새로운 빠르고 경량화된 혈액량 분석 시스템에 대한 FDA 승인을 획득했으며, 이는 이전 모델 BVA-100보다 세 배 빠르고 이동성이 뛰어납니다.
재무 하이라이트로는 2025년 상반기 매출이 2024년 상반기 대비 감사되지 않은 기준으로 73% 증가했으며, 이는 진단 키트 판매와 군 계약에 힘입은 것입니다. 순자산은 $36.6백만으로 증가했고, 주당 순자산가치(NAV)는 $7.15로 올라 2024년 6월보다 $0.40 상승했습니다.
임상 검증도 여러 연구를 통해 강화되었으며, 그중 BVA로 확인된 유혈성(euvolemic) 심부전 환자에서 생존율이 2.61배 더 높았다는 연구 결과가 포함됩니다. 또한 2025년 미국 전역에서 여러 의료시설의 신규 도입을 통해 시장 채택이 확대되었습니다.
Daxor Corporation (Nasdaq: DXR), leader en technologies de mesure du volume sanguin, a publié une mise à jour semestrielle aux actionnaires soulignant des accomplissements importants en 2025. En août 2025, la société a obtenu la conformité FDA pour son nouveau système d'analyse du volume sanguin, rapide et léger, qui est trois fois plus rapide et plus portable que son prédécesseur BVA-100.
Les points financiers montrent une augmentation de 73% des revenus non audités pour le premier semestre 2025 par rapport au premier semestre 2024, portée par les ventes de kits diagnostiques et des contrats militaires. Les actifs nets de la société ont atteint 36,6 M$, et la valeur nette d'actif (NAV) a augmenté à 7,15 $ par action, soit +0,40 $ par rapport à juin 2024.
La validation clinique s'est renforcée grâce à plusieurs études, y compris des recherches montrant une survie 2,61 fois meilleure chez les patients insuffisants cardiaques euvolémiques identifiés par le BVA. En 2025, l'adoption sur le marché s'est élargie avec plusieurs nouvelles implantations dans des établissements aux États-Unis.
Daxor Corporation (Nasdaq: DXR), führend in der Technologie zur Messung des Blutvolumens, veröffentlichte ein Halbjahres-Update für Aktionäre und hob bedeutende Erfolge in 2025 hervor. Im August 2025 erhielt das Unternehmen die FDA-Zulassung für sein neues schnelle, leichte Blutvolumen-Analyse-System, das dreimal so schnell und portabler ist als das Vorgängermodell BVA-100.
Finanzielle Höhepunkte sind ein 73%iger Anstieg der nicht testierten Umsätze im ersten Halbjahr 2025 gegenüber dem ersten Halbjahr 2024, angetrieben durch den Verkauf diagnostischer Kits und Militäraufträge. Das Nettovermögen des Unternehmens stieg auf $36,6 Millionen, und der NAV erhöhte sich auf $7,15 pro Aktie, ein Anstieg um $0,40 gegenüber Juni 2024.
Die klinische Validierung wurde durch mehrere Studien gestärkt, darunter Forschungsergebnisse, die eine 2,61-fach höhere Überlebensrate bei BVA-identifizierten euvolemischen Herzinsuffizienzpatienten zeigten. Die Marktdurchdringung wurde 2025 durch mehrere neue Implementierungen in Einrichtungen in den USA ausgeweitet.
- FDA clearance received for new rapid, lightweight Blood Volume Analysis System
- 73% increase in unaudited revenues for H1 2025 vs H1 2024
- Net Asset Value increased by $0.40 to $7.15 per share
- Operating division loss reduced significantly from $1.29M to $115K year-over-year
- Multiple new healthcare facility adoptions across the US
- Strong clinical validation with 2.61x better survival rates in heart failure patients
- Net assets increased by $3.97M to $36.63M
- Operating division still realized a loss of $114,982
- Net decrease in unrealized appreciation on investments of $419,490
- Net Decrease in Net Assets Resulting From Operations of $369,701
Insights
Daxor reports 73% revenue growth, FDA clearance for new BVA system, and increased NAV, signaling strong commercial momentum with clinical validation.
Daxor's mid-year update reveals remarkable commercial traction with a
The FDA clearance of their next-generation Blood Volume Analysis system in August 2025 represents a genuine technological leap. The new system maintains all capabilities of their existing BVA-100 while being three times faster, portable, and significantly smaller – addressing previous adoption barriers in healthcare settings where space and time constraints are critical factors.
Financial metrics show strengthening fundamentals with Net Asset Value increasing to
Clinical validation continues to build with the Duke University study published in the American Heart Journal and research presented at ACC25 showing 2.61 times better survival in euvolemic heart failure patients identified by Daxor's technology. The COVID/sepsis research in the Journal of Critical Care revealed that clinical assessments of fluid status were frequently inaccurate compared to BVA measurements – highlighting a substantial unmet clinical need their technology addresses.
The acceleration in facility adoptions (six new healthcare systems in recent months) suggests growing market acceptance. With their new portable system now FDA-cleared, Daxor appears positioned to capitalize on the clinical evidence demonstrating their technology's life-saving potential in both cardiac and critical care settings.
Oak Ridge, TN, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Daxor Corporation (Nasdaq: DXR), the global leader in blood volume measurement technology, today provides a mid-year corporate and financial update in a Letter to Shareholders from CEO and President Michael Feldschuh.
Dear Valued Shareholders,
"Patience, persistence and perspiration make an unbeatable combination for success." – Napoleon Hill.
This timeless wisdom resonates deeply with the journey we've undertaken at Daxor Corporation, and it perfectly encapsulates the spirit behind our latest achievements. We are thrilled to share that this persistence has culminated in a truly transformative moment for our company, marking an important inflection point as we move forward.
We are pleased to provide you with a mid-year update reflecting the significant progress and milestones achieved by Daxor Corporation since the beginning of 2025, building upon the foundation laid in our previous communications. This period has been marked by crucial advancements in product innovation, expanding market adoption, strong clinical validation, and increased visibility for our groundbreaking Blood Volume Analysis (BVA) technology.
Major Milestones: FDA Clearance and Industry Recognition
Our most significant highlight of this period is the receipt of FDA Clearance for our new rapid, lightweight, Blood Volume Analysis System in August 2025. This clearance is a testament to our continuous commitment to innovation and will enable us to offer an even more accessible and efficient solution to healthcare providers. Ringing the Nasdaq Closing Bell in a Ceremony in August 2025 also celebrated this and other recent achievements, underscoring our growing presence and recognition within the industry. It is worth noting that the new BVA system has the same capabilities as our existing BVA-100 but is three times faster, portable, and a fraction of the size while still measuring total blood volume (TBV), red blood cell volume (RBCV), plasma volume (PV), and albumin transudation rate (ATR). This next-generation analyzer is anticipated to deliver a level of speed, access, and accuracy to fluid management that can broadly change medicine.
Financial Performance Highlights: First Half 2025 vs. First Half 2024
We are particularly pleased to report on our financial performance for the mid-year ending June 30, 2025, demonstrating significant progress and continued growth in our operating business.
- Revenue Growth: The operating division experienced a 73 percent increase in unaudited revenues for the six-month period ended June 30, 2025, as compared to the six-month period ended June 30, 2024. This substantial growth was driven by a combination of sales of our single-use blood volume diagnostic kits for heart failure management and critical care use, as well as revenue from military contracts. The addition of new accounts during this period also contributed to this revenue growth.
- Net Asset Value (NAV) Increase: As of June 30, 2025, Daxor’s net assets were
$36,627,814 , reflecting an increase of$3,972,552 from$32,655,262 at June 30, 2024. On a per-share basis, our Net Asset Value increased to$7.15 per share at June 30, 2025, up$0.40 per share from$6.75 per share at June 30, 2024. - Investment Activity: For the six-month period ending June 30, 2025, Daxor had net dividend income of
$11,779 and net realized gains on investment activity of$468,212. T here was a net decrease in unrealized appreciation on investments of$419,490 , as positions were sold during 2025 and prior periods' significant unrealized gains unwound into realized gains. The Net Decrease in Net Assets Resulting From Operations of$369,701 included non-cash stock-based compensation expense of$205,214. Additionally, the operating division realized a loss of$114,982 due to judicious investment in research and development for the 2025 product launch, ramping commercial sales teams, and production facilities for our next-generation analyzers. This is significantly lower than the$1,296,087 realized loss from the same period of the prior year, demonstrating the growth of the operating division over the last year.
Expanding Market Adoption
Market penetration and clinical acceptance of Daxor's BVA technology have accelerated remarkably:
- Three new facility adoptions were announced in July 2025, indicating a strong upward trend in the integration of our technology into clinical practice.
- In May 2025, our BVA diagnostic reached two new U.S. Healthcare Systems, and a Florida Healthcare Leader embraced Daxor's Blood Volume Analysis Technology.
- Further demonstrating this momentum, three additional medical centers in Kentucky, Arkansas, and Philadelphia adopted Daxor’s Blood Volume Diagnostic in May 2025 and have programs in the process of launching, signaling growing clinical acceptance across the nation. These multiple new adoptions highlight the increasing recognition among healthcare providers of the critical role precise blood volume analysis plays in patient care.
Recent Research Highlights & Clinical Validation
The clinical validation and research supporting our BVA technology continue to strengthen its foundational value:
- A significant Duke University study on Blood Volume Analysis in Heart Failure was published in the American Heart Journal in May 2025. This publication in a prestigious journal further solidifies the scientific evidence backing our technology's utility in managing complex conditions like heart failure.
- New research presented at ACC25 in April 2025 revealed that Daxor BVA-identified euvolemic heart failure patients experienced 2.61 times better survival, a crucial finding that underscores the life-saving potential of accurate blood volume management.
- Long-awaited data from COVID/Sepsis research trial for patients hospitalized in the Critical Care unit of three hospitals begun in 2022 has finally been published in the prestigious Journal of Critical Care. This pilot study, conducted in 2022 across three ICUs, involved 36 patients and aimed to describe and compare ATR (the patient capillary leak rate as measured by albumin loss, a measure only available with our BVA test) in these two conditions. The study found that ATR was persistently elevated in both COVID-19 and sepsis patients, with significantly higher values in sepsis patients, suggesting more pronounced endothelial dysfunction. A critical finding was the frequent inaccuracy in clinical fluid status assessment, where patients were often deemed hypervolemic when objective measures showed them to be hypovolemic in both COVID-19 and sepsis. This misinterpretation highlights the urgent need for reliable diagnostic tools like BVA to better guide fluid therapy and reassess current clinical evaluation methods in critical care to avoid insufficient fluid administration or fluid overload.
Industry Event Showcases
We also actively engaged with the medical community to showcase our innovative solutions and foster broader awareness:
- Daxor Corporation exhibited at the 45th International Society for Heart and Lung Transplant (ISHLT) Annual Meeting and Scientific Sessions in April 2025.
- We showcased our innovative Blood Volume Analysis at the MedAxiom Cardiovascular Transforum Spring 2025.
These events provided invaluable platforms to interact with key opinion leaders, share our latest advancements, and demonstrate the clinical benefits of our technology to a wide audience of cardiovascular professionals.
In summary, the period since the start of 2025 has been exceptionally productive for Daxor Corporation. The FDA clearance of our rapid, lightweight BVA system, combined with a significant expansion in market penetration, robust clinical validation, and strong financial performance marked by a
Our mission is to advance patient care through precise blood volume management, solving one of the greatest challenges in healthcare. I thank you for your continued trust and investment in Daxor Corporation. We look forward to sharing further updates as we continue our mission.
Sincerely,
Michael Feldschuh
President and CEO
Daxor Corporation
About Daxor Corporation
Daxor Corporation (NASDAQ: DXR) is tackling healthcare's "multi-billion-dollar silent crisis", the inability to precisely measure blood volume. This often results in suboptimal care, prolonged hospital stays, and increased readmissions for many high-cost medical conditions like heart failure and those requiring ICU care. With 50 years of experience and innovation, Daxor's patented, FDA-cleared Blood Volume Analysis (BVA) diagnostic offers unmatched, real-time, precise data via its rapid, hand-held, lab-based system. This empowers clinicians to make individualized treatment decisions that significantly improve patient outcomes and deliver substantial efficiencies in value-based healthcare. Daxor is ISO certified and operates a U.S.-based, 20,000-square-foot state-of-the-art manufacturing facility, positioning the company for accelerated market expansion.
For more information, please visit our website at Daxor.com.
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Forward-Looking Statements
Certain statements in this release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding the impact of hiring sales staff and expansion of our distribution channels. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including, without limitation, those risk associated with our post-market clinical data collection activities, benefits of our products to patients, our expectations with respect to product development and commercialization efforts, our ability to increase market and physician acceptance of our products, potentially competitive product offerings, intellectual property protection, FDA regulatory actions, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and additional other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. Daxor does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Investor Relations Contact:
Bret Shapiro
COO – Head of Capital Markets
COREIR
(561)-479-8566-Cell
brets@coreir.com|www.coreir.com
FAQ
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What clinical benefits were demonstrated for Daxor's BVA technology in 2025?
How many new facilities adopted Daxor's BVA technology in 2025?
