Total Revenue

2% decline (from $30.55M in Q1 2024 to $29.9M in Q1 2025)

Total Revenue suffered a modest decline primarily due to lower contributions from key revenue streams compared to the prior period, with weaker performance in components like In Vitro Diagnostics and slight dips in Medical Device sales, reflecting market and order timing challenges. " "

Medical Device Revenue

Decline from $23.55M in Q1 2024 to $23.3M in Q1 2025

Despite making up a major portion of revenue, Medical Device revenue fell marginally, likely due to diminished performance in high-impact product lines (e.g., SurVeil DCB) when compared to last period’s stronger results, indicating potential operational or market-driven issues. " "

In Vitro Diagnostics Revenue

5.9% decline (from $7.01M in Q1 2024 to $6.6M in Q1 2025)

IVD revenue dropped significantly, primarily driven by unfavorable order timing and lower orders for distributed antigen and diagnostic test chemical components, which contrasts with the prior period’s stronger sales performance. " "

Operating Income

Loss increased from –$322K in Q1 2024 to –$2,481K in Q1 2025

The dramatic deterioration in Operating Income is driven by a combination of reduced gross profit margins and a surge in operating costs—especially a significant rise in SG&A expenses linked to merger-related charges and increased administrative costs compared to the prior period. " "

Net Income

Loss deepened from –$786K in Q1 2024 to –$3,651K in Q1 2025

Net Income worsened substantially as lower revenue figures, paired with higher operating and other expenses (notably merger-related costs), degraded overall profitability relative to the previous quarter’s more favorable metrics. " "

Earnings Per Share (EPS)

Declined from –$0.06 in Q1 2024 to –$0.26 in Q1 2025

EPS was substantially impacted by the deepening losses, reflecting the larger net loss in Q1 2025 on a nearly constant share base, in contrast to the modest loss reported in Q1 2024. " "

SG&A Expenses

Increased approximately 21% (from $12,537K in Q1 2024 to $15,174K in Q1 2025)

SG&A expenses surged due to merger-related charges of about $2.3M, higher sales compensation expenses, and continued investments in direct sales initiatives, which mark a significant increase from prior period costs and indicate a strategic push that has raised short-term expenses. " "