REVENUES UP 33% YTD
OPERATING EXPENSES DOWN 13% YTD
SUCCESSFUL LAUNCH OF EXPANDED VIVID SUBSCRIPTION PLANS
BOHEMIA, NY / ACCESS Newswire / August 14, 2026 / Scientific Industries, Inc. (OTCQB:SCND), a developer of digitally simplified bioprocessing solutions, vision-based pill counters and precision scales, today reported financial results for the three and six months ended June 30, 2026.
Business Highlights
Second-generation VIVID ONE will begin shipping in September 2026.
VIVID WORKSTATION AI model development is underway for a planned launch in the first quarter of 2027.
SBI began incorporating learnings from its first round of customer trials of the new pH sensor.
Work continues on the development of an AI tool to improve the customer experience with the DOTS Platform.
Three and Six Months Financial Results
Net revenues for the three and six months ended June 30, 2026 were $1,470,400 and $2,697,500, reflecting increases of $389,400 (36.0%) and $674,200 (33.3%), from $1,081,000 and $2,023,300 for the same periods last year, respectively. The increases were driven by higher sales volume across both segments.
Gross profits were $622,700 and $1,092,600, compared with $376,700 and $721,000 in the prior-year periods. Gross margins improved to 42.3% and 40.5% from 34.8% and 35.6%, reflecting higher gross margins in Bioprocessing Systems Operations from its new DOTS platform products.
Operating expenses were $1,895,500 and $4,033,200, a decrease of $300,200 (13.7%) and $598,000 (12.9%) from $2,196,200 and $4,631,200 in the prior-year periods, respectively. The decreases were primarily due to operational cost reductions and cost savings initiatives, particularly in Bioprocessing Systems Operations and corporate expenses.
The Company recast its financial results for the three and six months ended June 30, 2025 to reflect the discontinued operations related to the sale of the Genie Division of the Benchtop Laboratory Equipment Operations in August 2025. As a result, it reflected income of $273,100 and $552,700, net of tax, respectively, with no corresponding amounts in the current-year periods.
The Company reported a net loss for the three and six months ended June 30, 2026 of $1,233,800 and $2,823,100, or $(0.10) and $(0.24) per share respectively, compared with a net loss of $1,523,700 and $3,302,200, or $(0.13) and $(0.30) per share respectively, in the prior-year periods.
As of June 30, 2026, cash, cash equivalents and investments totaled $4,548,500, and working capital was $6,524,800.
Management Commentary
Helena Santos, Chief Executive Officer of Scientific Industries, said, "At the mid-year point of our fiscal year we are highly encouraged by our results in both the VIVID and bioprocessing businesses, particularly with our new product development efforts. The revamped VIVID subscription plans are providing the Company with an important recurring revenue stream while providing customers with support options that fit their needs. Our machine learning VIVID model under development is showing extraordinary results and will position the VIVID as the premier automated pill counter in its class, and we are accomplishing all our goals while being mindful of the bottom line."
John Moore, Chairman, said "We are seeing exciting progress at Scientific Bioprocessing as we develop our DOTS sensing platform. Our pH sensor has yielded surprising insights beyond what we originally designed it to deliver, and we have completed the first round of customer trials. Bioprocessing today still relies heavily on manual, offline sampling, which leaves scientists working from a handful of data points across days of dynamic biology. A sensing approach that delivers continuous data - and extracts more meaning from that data - is what our customers need to shorten development timelines and improve the odds of successful scale-up."
About Scientific Industries, Inc.
Scientific Industries (OTCQB:SCND), designs, produces, and markets bioprocessing systems under the product name DOTS, and vision-based pill counters under the VIVID brand in addition to weighing instruments under the brand Torbal. Scientific Industries' products are generally used in laboratories of universities, hospitals, pharmaceutical companies, medical device manufacturers, and pharmacies. To learn more, visit www.scientificindustries.com and www.scientificbio.com.
Safe Harbor Statement
Statements made in this press release that relate to future events, performance or financial results of the Company are forward-looking statements which involve uncertainties that could cause actual events, performance or results to materially differ. The Company undertakes no obligation to update any of these statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Accordingly, any forward-looking statement should be read in conjunction with the additional information about risks and uncertainties set forth in the Company's Securities and Exchange Commission reports, including our annual report on Form 10-K.
Company Contact:
Helena R. Santos
CEO and President
Phone: 631-567-4700
hsantos@scientificindustries.com
info@scientificindustries.com
FINANCIAL TABLES FOLLOW
SOURCE: Scientific Industries, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/scientific-industries-reports-second-quarter-fiscal-2026-results-1207338
