Impact BioMedical, Inc. reported a net loss of $1.278 million for the first quarter of 2025, an increase of 28% compared to a net loss of $998,000 in the same period of 2024. The company's total costs and expenses rose to $1.01 million, up 31% from $771,000 year-over-year. This increase was primarily driven by higher sales, general and administrative expenses, which surged by 66% to $248,000, and a 138% rise in sales and marketing costs to $19,000. The company attributed these changes to increased headcount and marketing efforts following its initial public offering (IPO) in September 2024.
In terms of operational developments, Impact BioMedical completed the acquisition of certain assets from DSS Pure Air, Inc. for $1.15 million, which was settled through the issuance of 545,024 shares of common stock. This acquisition included intellectual property related to the Celios air purification system, reflecting the company's strategy to expand its technology portfolio. The company also reported a significant increase in professional fees, which rose by 54% to $223,000, as it began to implement its business plan post-IPO.
The company’s cash position at the end of the first quarter of 2025 was $1.318 million, a decrease from $1.999 million at the end of 2024. Cash used in operating activities increased to $682,000 from $482,000 year-over-year, primarily due to higher payments on accounts payable and increased net loss. Impact BioMedical has historically relied on debt financing to meet its liquidity needs, and it raised approximately $3.726 million from its IPO, which is expected to support its ongoing operations and strategic initiatives.
Looking ahead, Impact BioMedical plans to focus on monetizing its intellectual properties and controlling operating costs to ensure its continued viability as a going concern. The company is actively seeking partnerships for the commercialization of its technologies, including its proprietary compounds and formulations aimed at addressing various health issues. Despite the challenges reflected in its financial performance, management remains optimistic about the potential for future growth and revenue generation through strategic collaborations and product development.
About IMPACT BIOMEDICAL INC.
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