Biomerica reports $1.23 million quarterly loss
- Biomerica reported fiscal first-quarter 2027 revenue of $1.265 million, down 8% year over year, with its net loss reaching $1.232 million.
- Gross margin declined to approximately 8% from 31%, while over-the-counter sales increased 81% and the company ended the quarter with $2.733 million in cash.
- Biomerica reported 22 Medicare-related inFoods IBS orders in September, up 120% from August, while pursuing commercial partnerships and additional financing opportunities.
Biomerica (NASDAQ:BMRA) reported a fiscal first-quarter 2027 net loss of $1.232 million, or $0.37 per share, as revenue declined 8% to $1.265 million.
The loss compared with approximately $2,000 in net income a year earlier, which included a $1.1 million Employee Retention Credit benefit, while gross margin fell from 31% to 8%.
Over-the-counter sales increased 81% to $291,000, compared with $161,000 a year earlier, although lower clinical laboratory sales contributed to the overall revenue decline.
Operating expenses fell approximately 14%, while September Medicare-related inFoods IBS orders increased 120% to 22 from 10 in August, with initial valid claims receiving $300 payments.
Biomerica is pursuing commercialization and strategic partnerships, although future Medicare payments remain uncertain
Biomerica develops diagnostic products for gastrointestinal and other conditions, including its inFoods IBS platform, which supports individualized dietary decisions through food-response testing.
The company raised approximately $2.23 million in an August private placement and engaged B. Riley Securities to explore partnerships and business combinations, while its quarterly filing disclosed substantial doubt about funding operations for the next 12 months.
