Biomerica Inc. Files Q2 FY2025 10-Q
Ticker: BMRA · Form: 10-Q · Filed: Jan 14, 2025 · CIK: 73290
Sentiment: neutral
Topics: 10-Q, financials, diagnostics
Related Tickers: BMRA
TL;DR
BIOMERICA INC (BMRA) filed its Q2 2025 10-Q. Check financials.
AI Summary
Biomerica Inc. filed its 10-Q for the period ending November 30, 2024. The company reported financial results for the second quarter of fiscal year 2025. Specific financial figures and operational details for this period are detailed within the filing.
Why It Matters
This filing provides investors and stakeholders with the latest financial performance and operational updates for Biomerica Inc., crucial for assessing the company's current health and future prospects.
Risk Assessment
Risk Level: medium — As a publicly traded company, Biomerica Inc. is subject to market fluctuations and regulatory oversight, inherent risks for any SEC filer.
Key Numbers
- 20241130 — Period End Date (The 10-Q covers financial information up to this date.)
- 20250114 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- BIOMERICA INC (company) — Filer of the 10-Q
- 20241130 (date) — End of the reporting period
- 20250114 (date) — Filing date
- IRVINE, CA (location) — Company's business and mailing address
- NMS PHARMACEUTICALS INC (company) — Former company name
- NUCLEAR MEDICAL SYSTEMS INC (company) — Former company name
- NUCLEAR INSTRUMENTS INC (company) — Former company name
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is for the quarter ended November 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on January 14, 2025.
What is Biomerica Inc.'s primary business classification?
Biomerica Inc. is classified under 'IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES' with SIC code 2835.
What are some of Biomerica Inc.'s former company names?
Biomerica Inc. was formerly known as NMS PHARMACEUTICALS INC, NUCLEAR MEDICAL SYSTEMS INC, and NUCLEAR INSTRUMENTS INC.
Where is Biomerica Inc. located?
Biomerica Inc.'s business and mailing address is 17571 VON KARMAN AVENUE, IRVINE, CA 92614.
Filing Stats: 4,544 words · 18 min read · ~15 pages · Grade level 15.6 · Accepted 2025-01-14 17:06:05
Key Financial Figures
- $0.08 — f each class) COMMON STOCK, PAR VALUE $0.08 (Name of each exchange on which regis
- $567,000 — ditionally, we have successfully raised $567,000 in net proceeds from the May 2024 ATM o
Filing Documents
- form10-q.htm (10-Q) — 658KB
- ex10-1.htm (EX-10.1) — 45KB
- ex10-2.htm (EX-10.2) — 42KB
- ex31-1.htm (EX-31.1) — 13KB
- ex31-2.htm (EX-31.2) — 13KB
- ex32-1.htm (EX-32.1) — 7KB
- ex32-2.htm (EX-32.2) — 7KB
- 0001493152-25-002209.txt ( ) — 3835KB
- bmra-20241130.xsd (EX-101.SCH) — 21KB
- bmra-20241130_cal.xml (EX-101.CAL) — 42KB
- bmra-20241130_def.xml (EX-101.DEF) — 94KB
- bmra-20241130_lab.xml (EX-101.LAB) — 229KB
- bmra-20241130_pre.xml (EX-101.PRE) — 172KB
- form10-q_htm.xml (XML) — 543KB
Financial Statements
Financial Statements: Condensed Consolidated Balance Sheets (unaudited) –November 30, 2024 and May 31, 2024 1 Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) – Three and Six Months Ended November 30, 2024 and 2023 2 Condensed Consolidated Statements of Shareholders' Equity (unaudited) – Three and Six Months Ended November 30, 2024and 2023 3 Condensed Consolidated Statements of Cash Flows (unaudited) – Six Months Ended November 30, 2024 and 2023 4 Notes to Condensed Consolidated Financial Statements (unaudited) 5 - 12 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 13 - 18 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 18 Item 4.
Controls and Procedures
Controls and Procedures 18 PART II Other Information 19 Item 1.
Legal Proceedings
Legal Proceedings 19 Item 1A.
Risk Factors
Risk Factors 19 Item 5. Other Information 19 Item 6. Exhibits 19
Signatures
Signatures 20 PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS BIOMERICA, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) November 30, 2024 May 31, 2024 Assets Current Assets: Cash and cash equivalents $ 2,372,000 $ 4,170,000 Accounts receivable, net 1,326,000 947,000 Inventories, net 1,789,000 2,376,000 Prepaid expenses and other 458,000 238,000 Total current assets 5,945,000 7,731,000 Property and equipment, net of accumulated depreciation and amortization of $ 1,428,000 and $ 1,394,000 as of November 30, 2024 and May 31, 2024, respectively 167,000 201,000 Right-of-use assets, net of accumulated amortization of $ 1,064,000 and $ 910,000 as of November 30, 2024 and May 31, 2024, respectively 588,000 742,000 Investments 165,000 165,000 Intangible assets, net of accumulated amortization of $ 57,000 and $ 49,000 as of November 30, 2024 and May 31, 2024, respectively 236,000 212,000 Other assets 173,000 203,000 Total Assets $ 7,274,000 $ 9,254,000 Liabilities and Shareholders' Equity Current Liabilities: Accounts payable and accrued expenses $ 848,000 $ 1,138,000 Accrued compensation 601,000 655,000 Advances from customers 85,000 85,000 Lease liabilities, current portion 342,000 326,000 Total current liabilities 1,876,000 2,204,000 Lease liabilities, net of current portion 284,000 459,000 Total Liabilities 2,160,000 2,663,000 Commitments and contingencies (Note 6) - - Shareholders' Equity: Preferred stock, Series A 5% convertible, $ 0.08 par value, 571,429 shares authorized, none issued and outstanding as of November 30, 2024 and May 31, 2024 - - Preferred stock, undesignated, no par value, 4,428,571 shares authorized, none issued and outstanding as of November 30, 2024 and May 31, 2024 - - Preferred stock value - - Common stock, $ 0.08 par value, 25,000,000 shares authorized, 18,336,994 and 16,821,646 issued and outstand