Executive Summary
Biomerica reported Q4 2024 revenue of $1.116 million, a QoQ increase of approximately 9.7% from Q3 2024 ($1.017 million), and a YoY rise of about 0.7% versus Q4 2023. Despite the top-line uptick, the company continues to burn cash with a negative gross margin and sizable operating expenses. Gross profit was $20 thousand on revenue of $1.116 million, yielding a gross margin of about 1.8%. Total operating expenses of $1.548 million produced an EBITDA of approximately $(1.317) million and an operating loss of $(1.528) million. Net income for the quarter was $(1.421) million, or $(0.0845) per share, reflecting ongoing investment in R&D and SG&A as Biomerica pursues its diagnostic and therapeutic product roadmap. The balance sheet shows a relatively healthy liquidity position with cash and equivalents of $4.17 million and total assets of $9.254 million, but accumulated losses remain a material concern with retained earnings deeply negative and negative operating cash flow of $(1.044) million for the quarter. Free cash flow was $(1.068) million, and cash burn is a key consideration for investors given limited quarterly revenue scale. Management commentary on pipeline progress, partnerships, or near-term profitability guidance is not included in the provided data, limiting forward visibility. Overall, BMRA remains a speculative allocation: execution on margin improvement, a clear path to profitability, and meaningful revenue growth are needed to offset the current cash burn and valuation implied by very small revenue bases.
Key Performance Indicators
QoQ: 113.42% | YoY:-30.57%
Key Insights
Revenue: $1.116M (Q4 2024); YoY growth 0.7%, QoQ growth 9.7%
Gross Profit: $20k; Gross Margin: 1.79%
Operating Expenses (total): $1.548M; EBITDA: $(1.318)M; Operating Income: $(1.528)M
Net Income: $(1.421)M; EPS: $(0.0845)
Weighted Avg Shares Out: 16.8216M; Diluted EPS: $(0.0845)
Cash from Operations: $(1.044)M; Free Cash Flow: $(1.068)M
Cash and Cash Equivalents: $4.170M; Total Assets: $9.254M; Total Liabilities: $2.663M; Equity: $6.591M
Net Debt: $(3.385)M (net cash position due to cash balan...
Financial Highlights
Revenue: $1.116M (Q4 2024); YoY growth 0.7%, QoQ growth 9.7%
Gross Profit: $20k; Gross Margin: 1.79%
Operating Expenses (total): $1.548M; EBITDA: $(1.318)M; Operating Income: $(1.528)M
Net Income: $(1.421)M; EPS: $(0.0845)
Weighted Avg Shares Out: 16.8216M; Diluted EPS: $(0.0845)
Cash from Operations: $(1.044)M; Free Cash Flow: $(1.068)M
Cash and Cash Equivalents: $4.170M; Total Assets: $9.254M; Total Liabilities: $2.663M; Equity: $6.591M
Net Debt: $(3.385)M (net cash position due to cash balance exceeding debt)
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
1.12M |
0.70% |
9.73% |
| Gross Profit |
20.00K |
-30.57% |
113.42% |
| Operating Income |
-1.53M |
16.77% |
23.60% |
| Net Income |
-1.42M |
20.71% |
25.91% |
| EPS |
-0.08 |
23.18% |
23.18% |
Key Financial Ratios
operatingProfitMargin
-136.9%
operatingCashFlowPerShare
$-0.06
freeCashFlowPerShare
$-0.06
priceEarningsRatio
-13.73
Management Commentary
Note: No earnings call transcript was provided in the data set. As a result, there are no management quotes or theme-based highlights to extract from an earnings call. The analysis below therefore relies on reported financial results and publicly disclosed metrics. If a transcript becomes available, we can supplement with management commentary on product pipeline, partnerships, cost controls, and guidance.
Forward Guidance
No formal forward guidance is included in the provided data. Given the quarterly cadence and the small revenue base, Biomerica’s near-term outlook hinges on progress in its diagnostic and therapeutic product platforms (including InFoods and Helicobacter pylori diagnostics) and potential partnerships/licensing arrangements. Investors should monitor: (1) quarterly revenue trajectory and gross margin stabilization toward meaningful levels, (2) progress in product development and regulatory milestones for core offerings, (3) management commentary on operating expense discipline, and (4) any strategic collaborations or licensing deals that could unlock revenue and reduce cost of goods sold or SG&A burdens. Absent explicit guidance, the investment thesis rests on margin improvement, sustained cash runway, and observable progress toward profitability in upcoming quarters.