Nanalysis Sci Stock Price, News & Analysis

Nanalysis Scientific Corp. (TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1) announced the results of its Annual General and Special Meeting of shareholders held on June 26, 2024. All proposed resolutions were approved, including the election of directors and the appointment of Ernst & Young LLP as auditor. The number of directors was set at six, with all nominees elected for a one-year term. Shareholders voted 99.869% in favor of setting the number of directors at six, 99.056% for appointing Ernst & Young, and 98.629% for re-approving the stock option plan.

The Board welcomed Jennifer Stubbs, CFO of FLINT Corp., as a new director. Guido Cloetens stepped down, not standing for re-election. Stubbs brings extensive financial experience from various industries including energy infrastructure and real estate, notably serving at Pembina Pipeline prior to her current role at FLINT Corp.

Nanalysis Scientific Corp. (TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1) announced the granting of 2,237,000 stock options. Of these, 1,035,000 options were awarded to directors and officers, while 1,202,000 options were given to employees and advisors. Each option permits the purchase of one common share at $0.50 per share, with a five-year exercise window from issuance. Vesting periods range from immediate to three years.

Nanalysis Scientific Corp. (TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1) reported strong first-quarter results for 2024, achieving a record revenue of $11.2 million, a 139% year-over-year increase. The growth was driven by a significant rise in product sales, service revenue, and flow-through inventory revenue. Product sales increased by 39% to $4.2 million, while service revenue surged by 252% to $4.7 million. The company's security service segment generated positive Adjusted EBITDA for the quarter. Gross margins improved notably, with product sales margins at 47% and service revenue margins at 8%. Adjusted EBITDA loss narrowed to $362K from $3.5M in the previous year, and net loss reduced to $2.5M from $4.3M. Strategic highlights include the completion of the airport security maintenance project phase-in, robust Benchtop NMR sales, and a successful $5M private placement offering. The company received $1.45M in funding for AI software development. A positive outlook is maintained for continued revenue growth and margin improvement throughout 2024.

Nanalysis Scientific Corp. (TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1) has announced a conference call to discuss its Q1 2024 financial results. The call will be hosted by CEO Sean Krakiwsky and CFO Randall McRae on May 29, 2024, at 5:00 PM ET. Investors can participate via phone or online webcast. A European Q&A session will follow on May 30, 2024, at 8:30 AM ET. The webcast will be available on the investor relations section of the company’s website and archived for 90 days. Telephonic playback will be available for seven days post-conference.

Nanalysis Scientific Corp. announces fourth quarter and full year 2023 results with optimistic outlook for 2024. The Company reported revenue growth, improved gross margins, and reduced losses. Financial highlights show increased sales and service revenue, with positive trends in product sales and security services. The Company is focused on innovation, cost-cutting measures, and strategic partnerships to drive profitability. Notable achievements include new revenue records, completion of the Airport Security Project phase-in, and funding for AI software development.