Integrated BioPharma (OTCQX: INBP) swings to loss on weaker Q2 2025 sales

Rhea-AI Filing Summary

Integrated BioPharma, Inc. reported weaker results for the quarter ended December 31, 2025, moving from profit to loss. Quarterly revenue fell to about $11.3 million from $12.6 million a year earlier, a 10.3% decline, and operating results shifted from roughly $0.2 million of income to a $0.9 million loss.

For the six-month period, revenue decreased to about $24.0 million from $26.2 million, and operating performance moved from approximately $0.7 million of income to a $0.7 million loss. The company recorded a net loss of $0.8 million for the quarter and $0.6 million for six months, versus net income of about $0.1 million and $0.4 million in the prior-year periods, with diluted earnings per share declining from $0.00 to $(0.03) for the quarter and from $0.01 to $(0.02) for six months.

Management noted that revenue from the two largest customers in the Contract Manufacturing Segment represented approximately 89% of total revenue for the six months ended December 31, 2025, up from 82% a year earlier, underscoring significant customer concentration.

Positive

• None.

Negative

• Revenue decline and margin compression: Quarterly revenue fell about 10%, gross profit dropped sharply to $29 thousand from $1.2 million, and results shifted from operating and net income to operating and net losses, indicating a notable deterioration in profitability.

Insights

Equity analyst – small-cap nutraceuticals

Integrated BioPharma swung from profit to loss on lower revenue and thin margins.

Integrated BioPharma reported quarterly revenue of about $11.3 million, down 10.3% from the prior year, and an operating loss of roughly $0.9 million. For the six months ended December 31, 2025, revenue slipped to about $24.0 million and operating results turned to a loss of roughly $0.7 million.

Gross profit for the quarter was minimal at $29 thousand, showing significant margin compression versus $1.2 million a year earlier. Net results also deteriorated, with a quarterly net loss of $0.8 million versus prior net income of about $0.1 million, and diluted earnings per share moving from $0.00 to $(0.03).

Customer concentration increased as revenue from the two largest Contract Manufacturing customers reached about 89% of total revenue for the six months, up from 82%. This heightens dependence on a small customer base, so subsequent reports for periods after December 31, 2025 will be important to see whether revenue and margins stabilize or continue to weaken.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):

February 11, 2026

________________

INTEGRATED BIOPHARMA, INC.

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

Delaware

(STATE OR OTHER JURISDICTION OF INCORPORATION)

001-31668	22-2407475
(COMMISSION FILE NUMBER)	(I.R.S. EMPLOYER IDENTIFICATION NO.)

225 Long Avenue

Hillside, New Jersey 07205

 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)

(973) 926-0816

(REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
None	None	None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02. Results of Operations and Financial Condition.

On February 11, 2026, Integrated Biopharma, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 hereto and is hereby incorporated by reference into this Item 2.02.

The information in this Item 2.02 (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibit relating to Item 2.02 shall be deemed to be furnished, and not filed:

99.1		Press Release dated February 11, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

-1-

EXHIBIT INDEX

Exhibit		Description
99.1		Press Release dated February 11, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

-2-

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	INTEGRATED BIOPHARMA, INC.
Date: February 11, 2026	By:     /s/ Dina L Masi
	Dina L. Masi
	Chief Financial Officer

-3-

NEWS RELEASE for February 11, 2026

Contact: Dina Masi, CFO

   Integrated BioPharma, Inc.

investors@ibiopharma.com

   888.319.6962        

Integrated BioPharma Reports Results for its Quarter Ended December 31, 2025

HILLSIDE, NEW JERSEY (February 11, 2026) - Integrated BioPharma, Inc. ((OTCQX: INBP)) (the “Company” or “INBP”) reports its financial results for the quarter ended December 31, 2025.

Revenue for the quarter ended December 31, 2025 was $11.3 million compared to $12.6 million for the quarter ended December 31, 2024, a decrease of $1.3 million or 10.3%.  The Company had an operating loss of $0.9 million in the quarter ended December 31, 2025 compared to operating income in the quarter ended December 31, 2024, of approximately $0.2 million.

Revenue for the six-month period ended December 31, 2025 was $24.0 million compared to $26.2 million for the six-month period ended December 31, 2024, a decrease of $2.2 million or 8.4%.  The Company had an operating loss for the six-month period ended December 31, 2025 of approximately $0.7 million and operating income of approximately $0.7 million for the six-month period ended December 31, 2024.

For the quarters ended December 31, 2025 and 2024, the Company had a net loss of $0.8 million and net income of approximately $0.1 million, respectively.  The Company’s net (loss) income per share of common stock and diluted net (loss) income per share of common stock for the quarters ended December 31, 2025 and 2024 were $(0.03) and $0.00 per share of common stock, respectively.

For the six-month periods ended December 31, 2025 and 2024, the Company had a net loss of $0.6 million and net income of approximately $0.4 million, respectively.  The Company’s net (loss) income per share of common stock and diluted net (loss) income per share of common stock for the six months ended December 31, 2025 and 2024 were $(0.02) and $0.01 per share of common stock, respectively.

“Our revenue decreased by approximately 8% in the six-month period ended December 31, 2025 from the six-month period ended December 31, 2024 and our revenue from our two largest customers in our Contract Manufacturing Segment represented approximately 89% and 82% of total revenue in the six months ended December 31, 2025 and 2024, respectively,” stated the Co-Chief Executive Officers of the Company, Riva Sheppard and Christina Kay.

A summary of our financial results for the three and six months ended December 31, 2025 and 2024 follows:

INTEGRATED BIOPHARMA, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share amounts)
(Unaudited)
				Three Months Ended								Six Months Ended
				December 31,								December 31,
				2025				2024				2025				2024
Total revenue				$	11,280			$	12,614			$	23,989			$	26,231
Cost of sales					11,251				11,443				22,921				23,689
Gross profit					29				1,171				1,048				2,542
Selling and administrative expenses					943				969				1,799				1,850
Operating (loss) income					(914)				202				(751	)			692
Other income (expense), net					40				(17	)			73				(3	)
(Loss) income before income taxes					(870	)			185				(678	)			689
Income tax (benefit) expense, net					(112	)			69				(39	)			314
Net (loss) income				$	(762	)		$	116			$	(639	)		$	375
Net (loss) income per common share:
Basic				$	(0.00	)		$	0.00			$	(0.02	)		$	0.01
Diluted				$	(0.03	)		$	0.00			$	(0.02	)		$	0.01
Weighted average common shares outstanding:
Basic					31,059,610				30,174,664				31,059,610				30,137,137
Diluted					31,059,310				31,303,011				31,059,610				30,810,401

About Integrated BioPharma Inc. (INBP)

Integrated BioPharma, Inc. (“INBP”) is engaged primarily in the business of manufacturing, distributing, marketing and sales of vitamins, nutritional supplements and herbal products. Further information is available at ir.ibiopharma.com.

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, as well as assumptions, that, if they never materialize or prove incorrect, could cause the results of INBP to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements generally are identified by the words “expects,” “anticipates,” believes,” intends,” “estimates,” “should,” “would,” “strategy,” “plan” and similar expressions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements and are not guarantees of future performance. Such statements speak only as of the date hereof, are subject to change and should not be relied upon for investment purposes.  INBP undertakes no obligation to revise or update any statements for any reasons. The risks, uncertainties and assumptions include, among others, changes in general economic and business conditions; loss of market share through competition; introduction of competing products by other companies; the timing of regulatory approval and the introduction of new products by INBP; changes in industry capacity; pressure on prices from competition or from purchasers of INBP’s products; regulatory changes in the pharmaceutical manufacturing industry and nutraceutical industry; regulatory obstacles to the introduction of new technologies or products that are important to INBP; availability of qualified personnel; the loss of any significant customers or suppliers; inflation, including inflationary pressures from any tariffs, and tightened labor markets; our ability to expand our customer base and other risks and uncertainties described in the section entitled “Risk Factors” in INBP’s most recent Annual Report on Form 10-K and its subsequent Quarterly Reports on Form 10-Q.  Accordingly, INBP cannot give assurance that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of INBP.

FAQ

How did Integrated BioPharma (INBP) perform in the quarter ended December 31, 2025?

Integrated BioPharma reported weaker quarterly performance, with revenue of about $11.3 million, down 10.3% year over year. Operating results swung from roughly $0.2 million of income to a $0.9 million loss, and net results moved to a $0.8 million loss.

What were Integrated BioPharma (INBP)’s six-month results through December 31, 2025?

For the six months ended December 31, 2025, Integrated BioPharma generated about $24.0 million in revenue, down from $26.2 million. Operating results shifted from approximately $0.7 million of income to a $0.7 million loss, and net income of $0.4 million turned into a $0.6 million net loss.

How did Integrated BioPharma’s earnings per share change compared with last year?

For the quarter, diluted earnings per share declined from about $0.00 to $(0.03). For the six-month period, diluted EPS moved from roughly $0.01 to $(0.02), reflecting the shift from net income in the prior year to net losses in 2025.

What does the 8-K filing say about customer concentration at Integrated BioPharma (INBP)?

Management reported that revenue from the two largest customers in the Contract Manufacturing Segment represented approximately 89% of total revenue for the six months ended December 31, 2025, compared with 82% a year earlier, highlighting increased dependence on a limited number of large customers.

Did Integrated BioPharma’s gross profit change significantly year over year?

Yes. Integrated BioPharma’s quarterly gross profit dropped to about $29 thousand from roughly $1.2 million a year earlier. This steep decline indicates substantial margin pressure, contributing to the shift from operating income in 2024 to an operating loss in 2025.

What type of business is Integrated BioPharma (INBP) engaged in?

Integrated BioPharma is primarily engaged in manufacturing, distributing, marketing, and selling vitamins, nutritional supplements, and herbal products. The company operates in the nutraceutical and related pharmaceutical manufacturing industries, serving customers through its various operating segments.

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 INBP PRESS RELEASE FEBRUARY 11 2026 74.4 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 10.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 13.5 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 10.1 KB