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Earnings Call Summary | MICROBIX BIOSYSTEMS(MBXBF.US) Q2 2024 Earnings Conference

Futu News ·  May 16 06:14  · Conference Call

The following is a summary of the Microbix Biosystems Inc. (MBXBF) Q2 2024 Earnings Call Transcript:

Financial Performance:

  • Microbix Biosystems Inc. reported Q2 revenues of $5.6 million, a 34% increase year-over-year, largely driven by an increase in product sales.

  • The company observed gross margins around 52-53% for the quarter, reflecting a net income of around $400,000 and a net margin of 7%.

  • Notable growth was seen in the test ingredients business, with over $4 million in sales for the quarter.

  • The company maintains a strong order backlog of over $9 million and a robust cash position of over $12 million, despite capital equipment purchases and share buy-back programs.

Business Progress:

  • Significant growth has been noted across all categories, with particular traction in the test ingredients and CAPS business.

  • Microbix is dedicated to domain innovations, developing novel formats for QAPs products, and broadening its expertise into oncology.

  • The company has strategically utilized government grant funding and interest-free loans to increase productivity and market performance.

  • Continued growth of the Kinlytic CDMO engagement through Microbix's relationship with Sequel.

  • Strong expectation of a 40% growth rate in the QAPs business this year and a solid order backlog indicates promising future performance.

More details: MICROBIX BIOSYSTEMS IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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