(via TheNewswire)
R&D costs are partially offset by a new, non-repayable contribution awarded from NRC-IRAP. The grant funds
“We are investing in growth to support our industry-leading antimicrobial testing services and products.”, says
Q1-24 Revenue & Gross Profit | |||
Period | Q1-2024 | Q1-2023 | % change |
Contract research fees | 268,745 | 182,269 | +47.44% |
Product Sales | 45,231 | 73,423 | -38.40% |
Gross revenue | 313,976 | 255,692 | +22.79% |
Cost of sales | 93,819 | 87,888 | +6.75% |
Gross profit | 220,157 | 167,804 | +31.20% |
Gross profit (%) | 70.12% | 65.63% | +6.84% |
Q4 Operating Expenses & Net Income | |||
General & administrative | 315,516 | 220,381 | +43.17% |
Sales & marketing | 7,242 | 7,622 | -4.99% |
Research & development | 21,186 | 23,951 | -11.54% |
Grants | (15,171) | - | |
Operating Expenses | 328,773 | 251,954 | +30.49% |
Fair value adjustment on financial instrument | 4,412 | - | |
Interest expense | - | (445) | |
Interest income | 2,003 | 1,590 | 25.97% |
Net Income (Loss) | (102,201) | (83,005) | +23.13% |
About
+1-604-239-1819 craig.milne@innovotech.ca
This document may contain forward-looking statements that are predictive in nature and subject to risks and uncertainties that cannot be predicted or quantified; consequently, actual results may differ materially from past results and those expressed or implied by any forward-looking statements. Factors that could cause or contribute to such risks or uncertainties include, but are not limited to: the regulatory environment including the difficulty of predicting regulatory outcomes; changes in the value of the Canadian dollar; the Company’s reliance on a small number of customers including government organizations; fluctuations in operating results; government policies or actions; progress and cost of clinical trials; reliance on key strategic relationships; uncertainty related to intellectual property protection and potential costs associated with its defense; the Company’s exposure to lawsuitsand other matters beyond the control of management. Should known or unknown risks or uncertainties materialize, or should management’s assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly make or update any forward- looking statements, except as required by applicable law.
Neither the
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Copyright (c) 2024 TheNewswire - All rights reserved., source