Biomerica Inc reports net loss of $1.1 million for the quarter ended August 31, 2023

BIOMERICA INC [BMRA], a leading provider of medical diagnostic products, announced its financial results for the quarter ended August 31, 2023. The company reported a net loss of $1.1 million for the quarter, compared to a net loss of $2.1 million in the same period last year.

Financial Performance

Despite the net loss, Biomerica Inc achieved a quarterly revenue of $1.7 million, representing a slight increase compared to the previous year's revenue of $1.6 million. The company's gross profit for the quarter was $412,000, a significant improvement from the previous year's loss of $55,000.