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Scientific Industries, Inc. (SCND) develops and markets life science tools centered on DOTS bioprocessing systems, VIVID vision-based pill counters and Torbal weighing products. Company news commonly covers financial results, product development in pharmacy automation and biomanufacturing, customer-use data for DOTS, and AI-enabled features for VIVID pill-counting workflows.
Updates also reflect the company’s completed divestiture of its Genie Division, which refocused continuing operations around Torbal, VIVID and bioprocessing systems. Recurring announcements include quarterly and annual results, investor presentations, conference calls, and product-line developments for laboratories, pharmaceutical companies, hospitals, pharmacies and related research settings.
Scientific Industries (OTCQB:SCND) reported financial results for Q1 of fiscal year 2024, ending March 31, 2024.
Net revenues decreased by 11.5% to $2.5 million from $2.8 million in the prior year period. Bioprocessing Systems Operations revenues increased by 42% to $316,100, while Benchtop Laboratory Equipment revenues decreased by 15% to $2.2 million.
Gross profit decreased by 24% to $1.0 million, with a gross margin of 42%, down from 48% in the prior year period. Operating expenses decreased by 17.7%, resulting in a reduced loss from operations of $2.05 million compared to $2.37 million in the previous year.
The company shipped its first Multi-Parameter Sensor (MPS) under the DOTS platform in April 2024 and completed an equity financing in Q1 2024. Cash, cash equivalents, and investments totaled $4.8 million as of March 31, 2024.
Scientific Industries, Inc. (OTCQB:SCND) will host an investor call on May 16, 2024, to discuss its first quarter financial results. The company plans to file Form 10Q on May 15, 2024, and issue a press release on May 16, 2024, reporting its Q1 2024 results. Interested parties can participate in the call by dialing (844) 481-2706 or (412) 317-0662 (international) or via live webcast. A replay will be available until May 23, 2024.
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