Integrated BioPharma Inc delivered a modest Q4 2024 with a positive net income swing year-over-year but a still-challenging cash flow profile. Revenue for the quarter was $12.746 million, a -1.9% YoY decline and -3.05% QoQ, while gross profit rose to $1.284 million for a gross margin of approximately 10.1%. Operating income stood at $0.402 million (margin ~3.15%), and net income was $0.268 million, translating to basic EPS of $0.0089 and diluted EPS of $0.0087. Notably, the company posted EBITDA of $0.719 million (margin ~5.6%), underscoring a modestly healthier operating core even as cash flow remains negative in the near term.
From a liquidity and balance sheet perspective, INBP maintains a comparatively clean capital structure for a small-cap nutraceutical distributor: cash and cash equivalents of about $1.678 million, total assets of ~$26.21 million, and total liabilities of ~$6.97 million, leaving total stockholders’ equity around $19.24 million. The company carries a small amount of debt (total debt ~$1.798 million; net debt ~$1.21 million) with a strong current ratio (2.92) and a conservative debt position (debt to equity ~0.0935, debt ratio ~0.0686). Working capital dynamics show elevated inventory ( ~$11.24 million) and moderate receivables (~$4.67 million) driving a cash conversion cycle in the ~101-day neighborhood and a negative free cash flow reading of about -$0.332 million for the quarter.
The quarter’s performance is consistent with a company navigating low- to mid-single-digit top-line dynamics within a fragmented packaged foods/nutraceutical market. The YoY net income gain (reported as +570% YoY in the metrics) reflects a significant swing from prior-year losses, but the business remains selective with limited scale and ongoing cash-flow headwinds. Looking ahead, management commentary in the posted data is not available here, so the investment thesis hinges on continued margin discipline, working-capital optimization, and any potential strategic actions in distribution, private label, or ecommerce channels that could lift profitability without notably increasing risk.