Business
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for the Quarter Ended March 31, 2025
CONCORD, NC - May 8, 2025 (NEWMEDIAWIRE) - Hydromer, Inc. (OTC: HYDI) (the "Company"), a leader in hydrophilic, thromboresistant, and antimicrobial coating technologies for medical devices for over 44 years, today announced certain preliminary, unaud...
About this update from Hydromer, Inc.
[{"type":"image","caption":"","headline":"UPDATE: Hydromer, Inc. Announces Expansion Into High-Speed Automated Coating and UV Cure Equipment Manufacturing","size":{"original":{"width":140,"height":52,"url":"https://media.zenfs.com/en/newsmediawire_165/913df1bfd855e21c8cc8dcdef7f8126c"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/kSJ2CPN_JeGqZvTZl_Ib0g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTIxMDtoPTc4O2NmPXdlYnA-/https://media.zenfs.com/en/newsmediawire_165/913df1bfd855e21c8cc8dcdef7f8126c","width":140,"height":52}}},{"type":"text","content":"CONCORD, NC - May 8, 2025 (NEWMEDIAWIRE) - Hydromer, Inc. (OTC: HYDI) (the "Company"), a leader in hydrophilic, thromboresistant, and antimicrobial coating technologies for medical devices for over 44 years, today announced certain preliminary, unaudited financial results for the first quarter ended March 31, 2025. These results are based on the most current information available to management, are unaudited, and are subject to the completion of the Company's 2025 year-end financial reporting processes, reviews, audit, and potential adjustments, each of which could result in changes to the numbers reported.","length":628,"tagName":"p"},{"type":"text","content":"For the quarter ended March 31, 2025, the Company reported revenue of $1.0 million, representing a 9% decrease compared to $1.1 million in Q1 2024. This decline was primarily attributed to legacy customer attrition and a modest delay in onboarding new programs typically seen in the medical coatings business.","length":309,"tagName":"p"},{"type":"text","content":"Net income for the quarter was $112,000, a 64% decrease from the same period in 2024. The reduction in profitability reflects the combined impact of lower revenue and a slight increase in operating expenses as the Company continues to invest in product development and commercial infrastructure.","length":295,"tagName":"p"},{"type":"text","content":""While revenue and earnings declined year-over-year, Q1 2025 marked a continuation of strategic investments necessary for long-term growth," said Michael Torti, CEO of Hydromer. "We remain focused on enhancing our product pipeline and expanding into higher-value markets. We are encouraged by early progress on several key initiatives that we believe will deliver meaningful results in the quarters ahead."","length":426,"tagName":"...