Microbix Reports Results for H1 & Q2 2026

About this update from Microbix Biosystems Inc.

Microbix Reports Results for H1 & Q2 2026H1 Revenues of $7.6 million and Controlled Net Loss MISSISSAUGA, ON / ACCESS Newswire / May 14, 2026 / Microbix Biosystems Inc. (TSX:MBX)(OTCQX:MBXBF)(Microbix®), a life sciences innovator, manufacturer, and exporter, reports results for its second quarter and first half of fiscal 2026 ended March 31, 2026 ("Q2" and "H1"). Results for Q2 and H1 demonstrated early results of the Company's continuing work to rebuild revenues back to profitability following two client setbacks in mid-2025, with revenue growth of 5% in H1 compared to H2 fiscal 2025.Management DiscussionMicrobix is prepared for material sales growth following additions to its capabilities and capacity. It is now at work on adding new client programs and clients to counter setbacks with two large clients in 2025. Progress with business development will be announced when secured. Microbix anticipates full-year fiscal 2026 results in-line with the forward-looking information (FLI) disclosed in its current Management Discussion and Analysis (MD&A), towards rebuilding sales above its earnings breakeven point.Quarter ending March 31, 2026 ("Q2")Q2 revenue was $3,377,708, a 37% decrease from Q2 2025 revenues of $5,324,864. Included were antigen revenues of $2,584,552 (2025 - $4,317,532), which were down 40% from last year. This antigen decrease was a result of a $2 million reduction in sales to the Company's distributor for China believed due to reduced incidence of respiratory diseases requiring testing and tighter test-access and reimbursement policies. Sales to other antigen customers were up 13% compared to the prior year period. QAPs revenues of $620,593 were down 28% from Q2 2025 (2025 - $ 864,320), primarily due to sales of PT/EQA oriented products being lower during this quarter due to timing of key customer shipments. Revenue from royalties were $172,563 (2025 - $ 143,012). In summary, our Q2 sales decline was driven by a significant decrease in antigen sales to China, offset somewhat by increased sales to other antigen customers.Q2 gross margin percentage was 48%, down from 60% in 2025, primarily due to decreased product sales resulting in fixed manufacturing costs needing to be absorbed across fewer units of production.Operating expenses (including finance expenses) in Q2 were down 3% compared to Q2 2025. Favourable foreign exchange gains a...

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