BioNexus Gene Lab Corp. reported its financial results for the third quarter and nine months ended September 30, 2025, revealing a total revenue of $2.54 million for the quarter, a decrease of 3.3% from $2.63 million in the same period last year. For the nine-month period, revenue was $6.94 million, down slightly from $6.99 million in 2024. The company's gross profit for the quarter increased by 15.7% to $377,685, compared to $326,536 in the prior year, while gross profit for the nine months rose to $1.09 million from $980,287. Despite these gains, the company reported a net loss of $708,991 for the quarter, an improvement from a loss of $1.35 million in the same quarter of 2024, and a net loss of $1.95 million for the nine months, compared to a loss of $1.25 million in the previous year.
The financial performance reflects significant operational changes, including a strategic shift in Chemrex Corporation, a subsidiary focused on industrial chemicals, towards becoming a biotechnology-focused contract development and manufacturing organization (CDMO). This transition is expected to enhance revenue streams by targeting higher-margin biotech contracts. Additionally, BioNexus has initiated a partnership with Fidelion Diagnostics for exclusive commercialization rights to its VitaGuard™ MRD platform in Southeast Asia, which is anticipated to bolster the company's diagnostic capabilities.
Operationally, BioNexus reported a decrease in total operating expenses to $1.19 million for the quarter, down 44.2% from $2.13 million in the previous year, primarily due to reduced sales and marketing expenses. The company also noted a significant increase in provisions for expected credit losses, reflecting heightened credit risk exposure. The total cash and cash equivalents as of September 30, 2025, stood at $1.36 million, with total liquidity exceeding $5 million, indicating a stable financial position despite ongoing operational losses.
Looking ahead, BioNexus aims to leverage its clean balance sheet and low compliance costs to pursue strategic mergers and acquisitions, particularly in the digital health and biotechnology sectors. The company is also exploring additional capital-raising mechanisms, including an at-the-market offering program, to support its growth initiatives. Management remains optimistic about the future, citing the potential for increased revenue from its evolving business model and strategic partnerships.
About BioNexus Gene Lab Corp
BioNexus Gene Lab Corp. operates through two subsidiaries: Chemrex, which distributes fiber-reinforced polymer (FRP) chemical raw materials to manufacturers in Southeast Asia, and MRNA Scientific, which develops non-invasive RNA-based liquid biopsy tests for early detection of cancers and inflammatory diseases. The company serves industrial manufacturers and healthcare providers, leveraging proprietary genomic screening technology and extensive regional distribution to offer specialized diagnostics and chemical materials with technical expertise and broad product ranges.
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