Scientific Industries Inc (OTCPK:SCND)

Q3 2024 Scientific Industries Inc Earnings Call Transcript

Nov 15, 2024 / 04:00 PM GMT

Release Date Price: $0.75 (+0.01%)

Transcript 10-Q

Key Points

Positve

Scientific Industries Inc (SCND) reported a recovery in its legacy genie business, reflecting positive growth trends in the lab equipment market.
The company's Vivid sales increased by 50% compared to the second quarter and 12% compared to the same quarter last year.
The launch of the new Vivid workstation is expected to significantly expand market opportunities beyond the independent pharmacy market.
Cost-cutting initiatives and financial discipline have resulted in a reduction in cash burn without affecting the top line.
The US bioprocessing segment reported a break-even result with a positive EBITDA margin of 14% for the first time.

Negative

The bioprocessing segment faced challenges due to tighter budgets and postponed equipment investments, particularly in Europe.
Overall sales in the bioprocessing segment were softer than expected despite a 12% increase compared to last year.
The company had to consolidate its organization, reducing team size to 77% of last year's, which involved severance costs.
Despite improvements, the company is not yet growing its top line as quickly as hoped in the challenging environment.
The company continues to face risks and uncertainties in achieving its forward-looking statements and projections.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SCND.PK - Scientific Industries Inc
Q3 2024 Scientific Industries Inc Earnings Call
Nov 15, 2024 / 04:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and welcome to the Scientific Industries Reports. Third quarter, fiscal year 2024 financial results conference call, all participants will be in a listen-only mode.

Should you need assistance? Please signal a conference specialist by pressing the star key followed by zero.

After today's presentation, there will be an opportunity to ask questions to ask a question. You may press star then one on a Touchstone phone with wire question. Please press star. Then two.

Please note this event is being recorded.

I would now like to turn the conference over to Joe Dome with us partners. Please go ahead.

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