Scientific Industries Reports 30.2% Revenue Growth to $1.23 Million for Q1 2026

Scientific Industries, Inc. reported its financial results for the three months ended March 31, 2026, revealing a revenue increase of 30.2% to $1.23 million, up from $942,300 in the same period last year. The growth was driven by a $227,700 rise in revenues from the Bioprocessing Systems segment and a $57,100 increase from the Benchtop Laboratory Equipment segment, which now focuses solely on Torbal and VIVID products following the sale of the Genie Division in August 2025. The gross profit margin improved to 38.3%, compared to 36.5% in the prior year, attributed to higher margins from new products in the Bioprocessing Systems segment.

Despite the revenue growth, the company reported a loss from continuing operations of $1.59 million, a decrease from a loss of $2.06 million in the previous year. This improvement is largely due to cost-cutting measures implemented in the Bioprocessing Systems and Corporate segments, which resulted in a reduction of general and administrative expenses by 27.4% to $746,900. Selling expenses also decreased by 8.8% to $687,000, reflecting the company's ongoing efforts to streamline operations.

In terms of operational metrics, Scientific Industries reported a total of 11,928,599 shares outstanding as of March 31, 2026, with a basic and diluted loss per share of $0.13, compared to a loss of $0.16 per share in the prior year. The company’s cash and cash equivalents decreased to $797,800 from $955,000 at the end of the previous fiscal year, while total assets fell to $11.10 million from $12.61 million. The accumulated deficit increased to $36.74 million, reflecting ongoing operational challenges.

The company continues to focus on its strategic initiatives, including the development of new products within the Bioprocessing Systems segment. As of March 31, 2026, Scientific Industries had cash flows from operating activities of $(993,500), an improvement from $(1,522,200) in the prior year, indicating progress in managing cash outflows. The company also generated $813,900 from investing activities, primarily from the redemption of investment securities, although this was lower than the $1.20 million reported in the same quarter last year.

Looking ahead, Scientific Industries anticipates that its current cash reserves, along with expected cash inflows from agreements related to the Genie Division sale, will be sufficient to support operations for at least the next year. However, the company acknowledges the need for continued revenue growth and potential external capital to ensure long-term viability. The management remains cautious, emphasizing that actual results may differ from forward-looking statements due to various market and operational factors.