Microbix Biosystems Inc. (MBX) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Recording in progress. Good morning, everyone. Thanks for joining us today. We have an update with Microbics, who just put out their Q2 numbers this morning. So hopefully everyone's had a chance to review those. With me on the call, I have Cameron Groom, CEO, Ken Hughes, COO, Jim Curry, CEO, I'm not sure if we're going to work off the presentation today, but as always, this session will contain forward-looking statements. If you'd like to know more about those, you can find them on the presentation on the company's website. There will be a Q&A section, so feel free to enter any questions you have in the Q&A box. With that out of the way, I'd like to turn the mic over to Cameron. Hi, Cameron. Good morning, Debra. Thank you so much. and good morning, Ken and Jim. I just want to thank everybody on the call for joining us for this update call this morning. As everybody will have seen from our results in Q2, it's not a particularly pretty quarter. The revenues were well below our engineered break-even point, which is about $5.5 million a quarter of revenues, so not unexpected to show a net loss, but we but net losses are not what we get dressed up in the morning for, even if controlled. Some of that, and I'll ask Jim to speak to any specifics and address particular questions, but we have continued, of course, to see lower year-over-year sales into China, and that's a principal driver for the year-over-year comparability. We also saw some... as we normally see in Q2, is not a strong quarter for our sales to the proficiency testing and external quality assessment agencies, our CAPS products. And we did see some antigen sales that we aimed to land in Q2 delayed until later in the year that weren't made up by CAPS programs just due to some continued client delays. So it's a b...