REVENUES INCREASE 18% YEAR-TO-DATE
OPERATING EXPENSES DECLINE 12% YEAR-TO-DATE
BREAKTHROUGHS IN NEW PRODUCT DEVELOPMENT
BOHEMIA, NY / ACCESS Newswire / November 13, 2026 / Scientific Industries, Inc. (OTCQB:SCND), a developer of digitally simplified bioprocessing solutions, vision-based pill counters and precision weighing instruments, today reported financial results for the three and nine months ended September 30, 2026.
Business Highlights
- Second-generation VIVID ONE began shipping in September 2026.
- VIVID WORKSTATION AI model development completed.
- SBI continues to grow with Year-Over-Year Year-To-Date revenue and significantly reduces operating losses.
- SBI advances DOTS sensing capabilities and builds a private bioprocess database to power next-generation analytics and applied AI.
Financial Results
Net revenue for the third quarter of 2026 was $1,354,800, compared with $1,404,000 in the prior-year quarter, a decrease of 49,200, or 3.5%. The decline reflected slightly lower sales of Torbal and VIVID products.
For the nine months ended September 30, 2026, net revenue increased $625,200, or 18.2%, to $4,052,300, compared with $3,427,100 in the prior-year period. Growth reflected higher sales volume for its Torbal and VIVID product lines, and its DOTS platform Bioprocessing products.
Gross profits for the three and nine months ended September 30, 2026 were $742,900 and $1,835,500, compared with $638,600 and $1,363,000 in the prior-year periods. Gross margins improved to 54.8% and 45.3% from 45.5% and 39.8%, reflecting higher gross margins on new DOTS platform products within the Bioprocessing Systems Operations.
Operating expenses for the three and nine months ended September 30, 2026 were $1,954,700 and $5,987,900, a decrease of $206,200 (9.5%) and $809,800 (11.9%) from $2,160,900 and $6,797,700 in the prior-year periods, respectively. The decreases reflected cost-reduction initiatives, particularly within the Bioprocessing Systems Operations, and corporate expenses.
Total other income, net for the three and nine months ended September 30, 2026 was $1,721,600 and $1,839,100, compared with $5,526,900 and $5,582,300 reflecting gains realized from the sale of the Genie Division in August 2025, which was completed in September 2026, when the Company received final earn-out payments upon completion of certain transition obligations, and escrowed funds were released.
The Company incurred current income tax expense, mostly related to state income taxes, of $39,800 for both the three and nine months ended September 30, 2026, and $15,300 for both the three and nine months ended September 30, 2025.
The Company reported third-quarter net income of $470,000, or $.04 earnings per share, compared with $3,994,400, or $.34 earnings per share, in the prior-year quarter. For the nine months, the Company reported a net loss of $2,353,100, or $(.20) loss per share, compared with net income of $692,200, or $.06 earnings per share, in the prior-year period.
As of September 30, 2026, cash, cash equivalents and investments totaled $5,972,200, and working capital was $7,174,100.
Management Commentary
John Moore, Chairman, said "Our bioprocessing business made significant progress in the first nine months of 2026. Revenue grew more than a third, and the shift toward our DOTS product line is showing up clearly in our margins. Third quarter sales were lighter, which reflects the uneven timing typical of a developing product line. Still, we cut the segment's operating loss by more than 40% in the quarter, and by over 30% for the nine months. We did that while increasing our investment in new products. We have made the business leaner and more focused, and we remain confident in the long-term opportunity fo DOTS in bioprocessing monitoring.
Beyond the hardware, the biggest opportunity is turning the data generated by the DOTS platform into intelligence. We have begun building a private database drawing on more than 500 experiments and approaching one billion data points, continuously expanding across cell types, vessels, media, and process conditions. We are using this growing valuable resource to train and refine our models and sensing algorithms, bring additional sensing parameters and deeper insights to the DOTS platform, and give customers a more powerful, real-time understanding of their bioprocesses. We believe this combination of sensing expertise and proprietary experimental data gives SBI a lasting advantage at the application layer of AI as biomanufacturing moves toward data-driven process development and control."
"Launch of the second-generation VIVID ONE marks an important milestone for our pill-counting business," said Helena Santos, Chief Executive Officer of Scientific Industries. "The redesigned system combines dual cameras for enhanced imaging capabilities, color image logging for improved prescription documentation, a faster processing platform and hardware enhancements, designed to improve reliability and offer greater speed and performance. Our next priority is launching the VIVID WORKSTATION AI model, and continue to develop products that address customer needs across our pill-counting business, and set us up as the premier vision-based pill counter line."
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
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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-third-quarter-fiscal-2026-results-1251385