Microbix Biosystems Inc. (MBX) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Thanks for joining us today. We have a webinar with Microbix who just reported their Q3 results this morning. Good results showing progress in the business. With me today, I have Cameron Groome, CEO, Jim Currie, CFO, and Ken Hughes, COO. I don't believe that we'll be working off a presentation, but this session will contain forward-looking statements. If you'd like to know more about those, you can find them on the company's presentation on their website. And the format today is going to be a quick overview of the quarter and some other key items. And then we're going to get into Q&A. So if anyone has a question, feel free to enter that in the Q&A box at the bottom of your screen. And with that all out of the way, congrats, gentlemen. Well, thank you. Thank you very much, Deborah. Appreciate it. And Cameron, I think I'll turn the mic over to you. Sounds good. Thank you. Well, thanks to everyone for joining us this morning for the Call to Review. Our results for the third quarter of fiscal 26 in the nine months ended June 30, 2026. Recalling, of course, that Microbix has a September 30 fiscal year. In the Q3, we demonstrated a solid year-over-year growth of 17% for the quarter, close to our goal of at least 20% year-over-year sales growth and really putting us back on track following the two specific client setbacks in mid-year 2025. Antigen sales were up 20% year over year, and cap sales were up 13% year over year and a quarter, with the balance being inbound royalties. Gross margins also improved to 54% up from 41% in the prior year Q3, reflective of some good manufacturing mix and discipline. And we recorded a controlled net loss that is reflective of some fairly strict cost controls that we put in place as we build back up on revenues. Our ...