Scientific Ind Stock Price, News & Analysis

Scientific Industries (OTCQB: SCND) has launched the VIVID LITE, an affordable automated pill counting product utilizing patented photo optical technology. This device accommodates all pill types, enhances counting accuracy, and is manufactured in the U.S. Additionally, the VIVID ONE has been rebranded and upgraded with a faster counting engine and cloud-based software for pharmacy management. CEO Helena Santos expressed confidence in their transition to a leader in digitally simplified pharmacy solutions, while President Karl Nowosielski highlighted the product's cost-saving benefits for independent pharmacists.

Scientific Industries (OTCQB: SCND) reported its first quarter financial results for fiscal year 2023, ending September 30, 2022. Total net revenues decreased by 7% to $2.7 million compared to the previous year. Despite a 50% increase in bioprocessing product sales, the overall revenue decline was driven by a 4% reduction in laboratory equipment sales. The company recorded a net loss of $1.292 million (or $0.18 per share), slightly higher than the net loss of $1.209 million in Q1 2022. The VIVID product line witnessed a significant 75% sales increase, while cash and equivalents fell to $7.7 million.

Scientific Industries (OTCQB:SCND) will release its financial results for the first fiscal quarter of 2023, ending September 30, 2022, on November 15, 2022, before market open. The company will conduct a conference call on the same day at 4:30 PM Eastern Time to discuss these results. Scientific Industries is recognized for its innovative laboratory equipment, including the Vortex-Genie^® 2 Mixer and products under its DOTS bioprocessing platform, aimed at enhancing research efficiency in various laboratory settings.

Scientific Industries (OTCQB:SCND) reported fiscal 2022 results with net revenues of $11.4 million, up 16% from fiscal 2021. The Bioprocessing Systems segment saw revenues of $1.4 million, a remarkable 100% increase. Gross profit rose to $5.7 million, reflecting a 14% increase. However, the company recorded a net loss of $5.6 million or $(0.85) per share, widening from the prior year's loss of $(3.6 million). Cash and investments decreased to $9.4 million and working capital fell by 13%.

Scientific Industries (OTCQB:SCND) plans to file its Form 10-K reporting financial results for the fiscal year ending June 30, 2022, on September 29, 2022, before market open. An investor call is scheduled for September 30, 2022, at 11:00 AM Eastern Time to discuss these results. The call can be accessed via phone or live webcast. Scientific Industries specializes in laboratory equipment and bioprocessing solutions, focusing on innovation within the life sciences sector.

Scientific Industries (OTCQB:SCND), a life science tool provider, will participate in the Lytham Partners Fall 2022 Investor Conference virtually on September 28-29, 2022. The webcast presentation can be viewed on their website starting at 9:00 am ET on September 28, with an archived replay available. Management will also engage in one-on-one meetings during the event. Scientific Industries designs and markets laboratory equipment, including the renowned Vortex-Genie 2 Mixer, used broadly in research settings.

Scientific Industries, Inc. (OTCQB:SCND) announced a research collaboration with Valerian Materials, NCERC, and UMN to utilize its DOTS software platform for advancing bioprocessing. This initiative is part of a broader project funded by the Biden Administration, which aims to invest over $2 billion in biotechnology. The DOTS platform is now integrated into six of the top fifteen academic synthetic biology pilot plants in the U.S., offering a faster and more economical alternative to traditional workflows. This collaboration highlights the growing market traction for DOTS.

Scientific Industries (OTCQB:SCND) announced the launch of an upgraded VIVID® automated pill counter aimed at enhancing pharmacy operations. This redesigned device features a Total Inventory Solution that tracks non-dispensable drugs, ensuring safety and compliance. Additionally, its faster counting engine improves efficiency and accuracy, while enhanced pharmacy management system integration streamlines workflows. The new cloud-based VIVID Plus Subscription offers extensive data analytics and support services, promoting operational efficiency in pharmacies as they prepare for the upcoming trade show season.

Scientific Industries (OTCQB: SCND) reported its financial results for Q3 and nine months ending March 31, 2022, revealing a 14.2% increase in net revenues to $2.9 million and 19.0% increase to $8.6 million year-to-date. Bioprocessing Systems Operations saw significant growth, with revenues rising 201.1% to $0.4 million for Q3. Despite these gains, the company reported a net loss of $1.5 million for Q3, with losses increasing from the previous year. A conference call is scheduled for May 18, 2022, at 4:30 p.m. ET.