Business
Microbix Reports Results for Q4 and Fiscal 2025
MISSISSAUGA, Ontario, Dec. 18, 2025 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. ( TSX: MBX, OTCQ...
About this update from Microbix Biosystems Inc.
[{"type":"text","content":"Microbix Reports Results for Q4 and Fiscal 2025Full-Year Revenues of $18.6 million and Net Loss of $2.2 million\nMISSISSAUGA, Ontario, Dec. 18, 2025 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. (TSX: MBX, OTCQX: MBXBF, Microbix®), a life sciences innovator, manufacturer, and exporter, reports results for its fiscal year and fourth quarter ended September 30, 2025 (“2025” and “Q4”) with revenues for those periods reflecting reduced antigen sales into China and cancellation of a client instrument and assay development program. Management DiscussionMicrobix added to both its capabilities and capacity across 2025, improving manufacturing processes, adding new products, and expanding its base of ongoing client relationships. However, setbacks relating to two clients (our distributor into China and a point-of-care assay-maker) overshadowed our broader progress – Resulting in reduced revenues through the second-half of 2025. Microbix is now hard at work adding new products, programs, and clients to rebuild revenues beyond its quarterly breakeven point. Year ending September 30, 2025 (“2025”)2025 revenues were $18,585,366, a 27% decrease from 2024 revenues of $25,394,148. Included in 2025 revenues were antigen revenues of $12,368,757 (2024 - $13,813,568), down 10% due to a decline in sales into China believed mainly due to fewer respiratory infections this past winter. QAPs revenues of $5,617,834 were down 20% from 2024 ($7,015,820), due to cancellation of test-development programs by a large client. Revenue from royalties were up 15% to $598,775 (2024 - $478,100). In summary, our 2025 sales decrease resulted from the lack of Kinlytic license payments ($4,086,660 in fiscal 2024), decreased antigen sales into China, and the cancellation of programs with a QAPs client. 2025 gross margin percentage was 53%, down from 61% last year. Lower 2025 gross margin was primarily driven by fixed manufacturing costs needing to be absorbed across fewer units of production and the lack of Kinlytic-related licensing payments, followed by a somewhat less-favourable product mix. Operating expenses (including finance expenses) in 2025 increased by 4% relative to 2024, due to lower investment income on short-term cash equivalents, coupled with a favourable debt-modification interest impact in 2024 that di...