Biomerica Inc (BMRA) reported QQ3 2025 revenue of $1.119 million, a gross profit of $19,000 and a gross margin of 1.70%. The quarter delivered an operating loss of approximately $1.21 million and a net loss of $1.163 million, or about $0.0679 per share on 17.12 million weighted average shares. The year-over-year revenue growth was modest at 10.0%, but sequentially the quarter declined 31.6% versus the prior quarter, highlighting a pullback in near-term top-line activity as the company continues to scale its GI diagnostics and therapy initiatives. EBITDA was negative by about $1.111 million, with an EBIT of roughly $-1.21 million, underscoring ongoing profitability challenges in a small-cap medical devices business with a limited revenue base.
Biomerica’s liquidity position remains solid for a micro-cap: cash and cash equivalents totaled $3.058 million at quarter-end, and the company held a net cash position of about $2.515 million after considering short-term obligations. The balance sheet shows no long-term debt and a healthy current ratio of 3.76, quick ratio of 2.76, and cash ratio of 1.85, suggesting adequate liquidity to fund near-term operating needs and selective R&D. However, negative retained earnings (-$51.624 million) reflect a long history of losses that raises the ongoing need for external capital or credible profitability inflections.
Management commentary is not available in the provided transcript data; as a result, the forward-looking narrative hinges on the qualitative read of the pipeline and balance sheet dynamics. Key growth opportunities center on Biomerica’s GI diagnostics portfolio and InFoods IBS therapy technology, along with Helicobacter pylori diagnostic-guided therapy and related tests. While these programs offer strategic upside if adopted by physicians’ offices, hospital laboratories, and over-the-counter channels, near-term revenue progression remains uneven and subject to regulatory, reimbursement, and competitive dynamics. Given the modest quarterly burn rate on operating activities (approximately $1.045 million) and a financing inflow of about $1.736 million in the quarter, the company appears to have a liquidity runway short of several quarters absent sustained improvements in operating cash flow or additional financing.