Canada · Delayed Price · Currency is CAD Microbix Biosystems Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 revenue rebounded 13% sequentially to CAD 4.2 million, with net loss managed by cash reserves. Growth in QAPs and new client wins offset ongoing weakness in China, while annual revenue is targeted at CAD 18.5–19 million. NCIB share buybacks continue at 15,000 shares per day.
Fiscal Year 2025
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Revenue declined 27% year-over-year due to major client losses and the absence of Kinlytic sales, but operational improvements and new product launches position the company for a strong recovery in fiscal 2026. Cash reserves remain robust, and share buybacks will continue.
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Q3 fiscal 2025 saw a sharp revenue decline and net loss due to setbacks with two major clients, but recurring sales and key business lines excluding those clients showed double-digit growth. Management is focused on rebuilding sales, launching new products, and leveraging strong liquidity to support recovery.
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Q2 saw strong antigen sales and margin gains, offset by temporary QAPs softness and anticipated second-half revenue headwinds from China. Strategic progress continues with new capabilities, customer onboarding, and robust financial health.
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Recurring revenue and gross margins rose sharply year-over-year, with strong growth in both QAPs and antigens segments. New recombinant antigen capabilities and expansion into genetic and oncology testing are set to drive further growth, while operational efficiencies and share buybacks strengthen financials.
Fiscal Year 2024
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Record revenue and margin growth in both antigens and QAPs segments drove a strong fiscal year, with continued investment in capacity, innovation, and share buybacks. Outlook remains robust, targeting 20%-40% annual revenue growth and further margin expansion.
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Q3 saw 20% year-over-year recurring sales growth and a 54% gross margin, with strong performance in antigens and QAPs. The outlook remains robust, targeting 20%-40% sales growth in 2025, supported by a strong order book, capacity expansion, and disciplined cost control.