Scientific Industries Reports 36% Revenue Growth in Q2 2026

Scientific Industries, Inc. reported its financial results for the second quarter of 2026, revealing a significant increase in revenue and a continued focus on its bioprocessing systems operations. For the three months ended June 30, 2026, the company generated revenues of $1.47 million, a 36% increase from $1.08 million in the same period last year. This growth was primarily driven by a $338,900 rise in sales from the Benchtop Laboratory Equipment segment, which now exclusively features Torbal and VIVID brand products following the sale of the Genie Division in August 2025. The gross profit margin also improved to 42.3%, up from 34.8% in the prior year, attributed to higher margins from the Bioprocessing Systems Operations.

In terms of expenses, Scientific Industries reported a decrease in general and administrative costs, which fell by 25.6% to $553,900, largely due to reduced employee-related expenses following a workforce reduction in the Bioprocessing Systems segment. Selling expenses also decreased by 16.4% to $647,100, reflecting cost-saving measures including a reduction in the salesforce. Research and development expenses saw a slight increase of 2.6% to $694,500, driven by investments in new product development for the VIVID pill counters.

The company’s net loss for the quarter was $1.23 million, an improvement from a loss of $1.52 million in the same quarter of 2025. For the six months ended June 30, 2026, the net loss was $2.82 million, compared to a loss of $3.30 million in the prior year. The company’s accumulated deficit increased to $37.97 million as of June 30, 2026, reflecting ongoing operational challenges. Cash and cash equivalents decreased to $616,500 from $955,000 at the end of the previous fiscal year, while total assets fell to $10.11 million from $12.61 million.

Operationally, the company has been focusing on its bioprocessing systems, which reported a loss from operations of $1.07 million for the quarter. The Benchtop Laboratory Equipment segment, however, achieved a gain from operations of $57,500. The company continues to rely on equity financing to support its operations, with management indicating that cash generated from the sale of the Genie Division and other agreements should sustain operations for at least the next year. Looking ahead, Scientific Industries aims to enhance revenue generation and reduce expenses to improve its financial position, although it acknowledges the uncertainty surrounding its operational strategy and market conditions.