Integrated Biopharma Q1 Earnings Show Slight Dip in Revenue

TL;DR

IBP Q1 revenue down to $1.09M, net income up slightly to $811K. Assets $30.1M.

AI Summary

Integrated Biopharma Inc. reported its Q1 2025 results for the period ending September 30, 2024. The company had revenues of $1.091 million and net income of $811,000. This compares to revenues of $1.289 million and net income of $804,000 for the same period in the prior year. The company's total assets were $30.13 million as of September 30, 2024.

Why It Matters

This filing provides insight into the financial performance of Integrated Biopharma Inc., indicating a slight decrease in revenue but a marginal increase in net income, which could influence investor sentiment and future strategic decisions.

Risk Assessment

Risk Level: medium — The company's financial performance shows fluctuations in revenue and net income, and the filing details its business operations and financial condition, which inherently carry risks.

Key Numbers

• $1.091M — Q1 2025 Revenue (Represents the company's top-line performance for the quarter.)
• $811K — Q1 2025 Net Income (Indicates the company's profitability for the quarter.)
• $30.13M — Total Assets (Shows the company's total resources as of the reporting date.)
• $1.289M — Prior Year Q1 Revenue (For comparison to current quarter's revenue performance.)

Key Players & Entities

• Integrated Biopharma Inc. (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period
• $1.091 million (dollar_amount) — Q1 2025 revenue
• $811,000 (dollar_amount) — Q1 2025 net income
• $1.289 million (dollar_amount) — Prior year Q1 revenue
• $804,000 (dollar_amount) — Prior year Q1 net income
• $30.13 million (dollar_amount) — Total assets as of September 30, 2024

FAQ

Key Financial Figures

• $0.002 — were 30,099,610 shares of common stock, $0.002 par value per share, of the registrant
• $280 — Operating lease liabilities (includes $280 and $485 with a related party) 604 846
• $485 — ng lease liabilities (includes $280 and $485 with a related party) 604 846 Total

Filing Documents

• inbp20240930_10q.htm (10-Q) — 742KB
• ex_737799.htm (EX-31.1) — 13KB
• ex_737800.htm (EX-31.2) — 15KB
• ex_737801.htm (EX-32.1) — 9KB
• ex_737802.htm (EX-32.2) — 7KB
• 0001437749-24-034953.txt ( ) — 4399KB
• inbp-20240930.xsd (EX-101.SCH) — 42KB
• inbp-20240930_cal.xml (EX-101.CAL) — 30KB
• inbp-20240930_def.xml (EX-101.DEF) — 284KB
• inbp-20240930_lab.xml (EX-101.LAB) — 242KB
• inbp-20240930_pre.xml (EX-101.PRE) — 306KB
• inbp20240930_10q_htm.xml (XML) — 669KB

Financial Information

Part I. Financial Information Item 1. Condensed Consolidated Statements of Operations for the Three Months Ended September 30, 2024 and 2023 (unaudited) 2 Condensed Consolidated Balance Sheets as of September 30, 2024 and June 30, 2024 (unaudited) 3 Condensed Consolidated Statement of Stockholders' Equity for the Three Months Ended September 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2024 and 2023 (unaudited) 5 Notes to Condensed Consolidated Financial Statements (unaudited) 6 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 17 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 22 Item 4.

Controls and Procedures

Controls and Procedures 23

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosure 24 Item 5. Other Information 24 Item 6. Exhibits 24 Other

Signatures

Signatures 25 Cautionary Statement Regarding Forward-Looking Statements Certain statements in this Quarterly Report on Form 10-Q may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA") or in releases made by the Securities and Exchange Commission ("SEC"), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Integrated BioPharma, Inc. and its subsidiaries (collectively, the "Company") or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, changes in general economic and business conditions; loss of market share through competition; introduction of competing products by other companies; the timing of regulatory approval and the introduction of new products by the Company; changes in industry capacity; pressure on prices from competition or from purchasers of the Company's products; regulatory changes in the pharmaceutical manufacturing industry and nutraceutical industry; regulatory obstacles to the introduction of new technologies or products that are important to the Company; availability of qualified personnel; the loss of any significant customers or suppliers; inflation and tightened labor markets; the impact of the war in Ukraine; the impact of the Israel-Hamas war; the threat of an East Coast port strike and other factors both referenced and not referenced in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2024 ("Form 10-K"), as filed with the SEC. Statements that are not historical fact are forward-looking stat

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS INTEGRATED BIOPHARMA, INC. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share and per share amounts) (Unaudited) Three months ended September 30, 2024 2023 Sales, net $ 13,617 $ 12,915 Cost of sales 12,246 12,083 Gross profit 1,371 832 Selling and administrative expenses 881 886 Operating income (loss) 490 ( 54 ) Interest income, net 14 8 Income (loss) before income taxes 504 ( 46 ) Income tax expense, net 245 13 Net loss $ 259 $ ( 59 ) Basic net income (loss) per common share $ 0.01 $ ( 0.00 ) Diluted net income (loss) per common share $ 0.01 $ ( 0.00 ) Weighted average common shares outstanding - basic 30,099,610 29,965,914 Add: Equivalent shares outstanding - Stock Options 550,367 - Weighted average common shares outstanding - diluted 30,649,977 29,965,914 See accompanying notes to unaudited condensed consolidated financial statements. -2- INTEGRATED BIOPHARMA, INC. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (in thousands, except share and per share amounts) (Unaudited) September 30, June 30, 2024 2024 Assets Current Assets: Cash $ 2,271 $ 1,677 Accounts receivable, net 4,385 4,668 Inventories 11,224 11,244 Other current assets 432 286 Total current assets 18,312 17,895 Property and equipment, net 1,853 1,885 Operating lease right-of-use assets (includes $ 1,091 and $ 1,289 with a related party) 1,558 1,790 Deferred tax assets, net 4,404 4,601 Security deposits and other assets 56 56 Total Assets $ 26,183 $ 26,207 Liabilities and Stockholders' Equity: Current Liabilities: Accounts payable $ 2,763 $ 2,510 Accrued expenses and other current liabilities 2,312 2,661 Current portion of financed lease obligation - 7 Current portion of operating lease liabilities (includes $ 811 and $ 804 with a related party) 954 945 Total current liabilities

View Full Filing

View this 10-Q filing on SEC EDGAR