Here are the 10-K annual reports from Pharm-Bio Serv Inc (PBSV) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow PBSV and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PBSV filings page.
Pharma-Bio Serv, Inc. filed Amendment No. 1 to its annual report for the year ended October 31, 2025 to add updated Part III information on governance, compensation, ownership and auditor matters. The amendment does not change the previously reported financial results and is meant to be read together with the original Form 10-K.
The filing details a four‑member, fully independent board under Nasdaq standards, with standing audit, compensation, and nominating committees. It describes long‑tenured CEO Victor Sanchez and CFO Pedro Lasanta, whose salaries in fiscal 2025 were $231,000 and $175,000, respectively, with only statutory bonuses and limited perquisites.
Independent directors each received $50,000 in cash fees plus stock options. The company discloses a related‑party AI Agreement: for $250,000 it obtained an AI‑based lead generation platform, a 2.44% interest in an AI company and an option to raise that interest to 16.67%. Crowe PR PSC billed $113,740 in audit and related services for 2025, all pre‑approved by the audit committee.
Pharma-Bio Serv, Inc. reports results for the year ended October 31, 2025, highlighting a small net loss and stronger margins in its global compliance consulting business. Revenue was about $9.0 million, down from $9.5 million, as growth in Europe was offset by softer demand in Puerto Rico, the United States and Brazil.
Gross profit margin improved to 32.3% from 26.5% as project mix and pricing boosted profitability, reducing the net loss to roughly $0.1 million from $0.8 million. Three major customers provided 43.5% of revenue, underscoring client concentration risk. Working capital of about $11.6 million supports operations, dividends and buybacks.
The company paid a $0.075 per share cash dividend and repurchased shares under its ongoing program, while shifting to a fully remote structure except for a small Madrid office. It also holds a $6.7 million judgment against a customer, though collection remains uncertain. Management cites tax changes, Puerto Rico economic conditions, industry consolidation and cybersecurity as key risks.