$BMRA
BIOMERICA INC

2024 Q4 Form 10-Q Financial Statement

#000149315224041156 Filed on October 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $1.807M
YoY Change 5.49%
Cost Of Revenue $1.518M
YoY Change 16.68%
Gross Profit $289.0K
YoY Change -29.85%
Gross Profit Margin 15.99%
Selling, General & Admin $1.360M
YoY Change 16.04%
% of Gross Profit 470.59%
Research & Development $297.0K
YoY Change -37.08%
% of Gross Profit 102.77%
Depreciation & Amortization $21.00K
YoY Change 0.0%
% of Gross Profit 7.27%
Operating Expenses $1.657M
YoY Change 0.79%
Operating Profit -$1.368M
YoY Change 11.04%
Interest Expense $56.00K
YoY Change -53.33%
% of Operating Profit
Other Income/Expense, Net $56.00K
YoY Change -54.47%
Pretax Income -$1.312M
YoY Change 18.3%
Income Tax $4.000K
% Of Pretax Income
Net Earnings -$1.316M
YoY Change 16.25%
Net Earnings / Revenue -72.83%
Basic Earnings Per Share -$0.08
Diluted Earnings Per Share -$0.08
COMMON SHARES
Basic Shares Outstanding 16.82M shares 16.82M shares
Diluted Shares Outstanding 16.82M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.820M
YoY Change -64.71%
Cash & Equivalents $2.820M
Short-Term Investments
Other Short-Term Assets $132.0K
YoY Change -52.86%
Inventory $1.942M
Prepaid Expenses
Receivables $1.551M
Other Receivables $0.00
Total Short-Term Assets $6.445M
YoY Change -44.31%
LONG-TERM ASSETS
Property, Plant & Equipment $184.0K
YoY Change -15.6%
Goodwill
YoY Change
Intangibles $207.0K
YoY Change 2.48%
Long-Term Investments $165.0K
YoY Change -2.94%
Other Assets $203.0K
YoY Change 111.46%
Total Long-Term Assets $1.425M
YoY Change -13.37%
TOTAL ASSETS
Total Short-Term Assets $6.445M
Total Long-Term Assets $1.425M
Total Assets $7.870M
YoY Change -40.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.089M
YoY Change 53.38%
Accrued Expenses $977.0K
YoY Change 0.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.151M
YoY Change 23.2%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $373.0K
YoY Change -47.46%
Total Long-Term Liabilities $373.0K
YoY Change -47.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.151M
Total Long-Term Liabilities $373.0K
Total Liabilities $2.524M
YoY Change 2.98%
SHAREHOLDERS EQUITY
Retained Earnings -$49.50M
YoY Change 14.32%
Common Stock $1.346M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.346M
YoY Change
Total Liabilities & Shareholders Equity $7.870M
YoY Change -40.46%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$1.316M
YoY Change 16.25%
Depreciation, Depletion And Amortization $21.00K
YoY Change 0.0%
Cash From Operating Activities -$1.344M
YoY Change -19.71%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities -$1.344M
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash -$1.350M
YoY Change -22.01%
FREE CASH FLOW
Cash From Operating Activities -$1.344M
Capital Expenditures
Free Cash Flow -$1.344M
YoY Change -20.71%

Facts In Submission

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CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2820000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7988000 usd
CY2024Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4000 usd
CY2023Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
23000 usd
CY2024Q3 us-gaap Basis Of Accounting
BasisOfAccounting
<p id="xdx_803_eus-gaap--BasisOfAccounting_zUy57rik0Lzi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1: <span id="xdx_828_zTw22EoD62L7">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Biomerica, Inc. and its subsidiaries (which includes wholly-owned subsidiaries, Biomerica de Mexico and BioEurope GmbH) is a global biomedical technology company that develops, patents, manufactures and markets advanced diagnostic and therapeutic products used at the point-of-care (physicians’ offices and over-the-counter through drugstores and online) and in hospital/clinical laboratories for detection and/or treatment of medical conditions and diseases. Our diagnostic test products utilize immunoassay technology to analyze blood, urine, nasal, or fecal material from patients in the diagnosis of various diseases, food intolerances and other medical complications, and to measure the level of specific hormones, antibodies, antigens, or other substances, which may exist in the human body in extremely small concentrations. Our other existing products are primarily focused on gastrointestinal diseases, food intolerances, and certain esoteric tests. Company’s products are designed to enhance the health and well-being of people, while reducing total healthcare costs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our primary focus is the research, development, commercialization and in certain cases regulatory approval, of patented, diagnostic-guided therapy (“DGT”) products to treat gastrointestinal diseases, such as irritable bowel syndrome (“IBS”), and other inflammatory diseases. These products are directed at chronic inflammatory illnesses that are widespread, common, and address very large markets. Our inFoods® IBS product uses a simple blood sample and is designed to identify patient-specific foods that, when removed from the diet, may alleviate IBS symptoms such as pain, bloating, diarrhea, and constipation. Instead of broad and difficult to manage dietary restrictions, the inFoods® IBS product works by identifying specific foods that may be causing an abnormally high immune response in the patient. A food identified as positive, which is causing an abnormal immune response in the patient, is simply removed from the diet to help alleviate IBS symptoms.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our existing medical diagnostic products are sold worldwide primarily in two markets: a) clinical laboratories and b) point-of-care (physicians’ offices and over-the-counter drugstores such as Walmart and CVS Pharmacy). Most of our products are Conformite Europeenne (“CE”) marked and/or sold for diagnostic use where they are registered by each country’s regulatory agency. In addition, some products are cleared for sale in the United States by the FDA.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The unaudited condensed consolidated financial statements herein have been prepared by management pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). The accompanying unaudited condensed consolidated financial statements have been prepared under the presumption that users of the interim financial information have either read or have access to the audited consolidated financial statements for the latest fiscal year ended May 31, 2024. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three months ended August 31, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending May 31, 2025. For further information, refer to the audited consolidated financial statements and notes thereto for the fiscal year ended May 31, 2024 included in the Company’s Annual Report on Form 10-K filed with the SEC on August 28, 2024. Management has evaluated all subsequent events and transactions through the date of filing this report.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84B_eus-gaap--UseOfEstimates_z2yTuC9WdpOc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_zHYae4WVFLRi">ACCOUNTING ESTIMATES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In order to prepare our consolidated financial statements in conformity with GAAP, we must make a number of estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Such estimates and assumptions affect the reported amounts of revenues and expenses during the reporting period. Our estimates are based on historical experience and various other assumptions that we believe to be reasonable under the circumstances. Different assumptions or conditions may cause actual results to differ materially from these estimates. We monitor significant estimates made during the preparation of our financial statements on an ongoing basis. We believe our estimates and assumptions are reasonable under the current conditions; however, actual results may differ from these estimates under different future conditions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We believe that the estimates and assumptions that are most important to the portrayal of our financial condition and results of operations, in that they require subjective or complex judgments, form the basis for the accounting policies deemed to be most critical to us. These relate to revenue recognition, bad debts, inventory overhead application, inventory reserves, lease liabilities, right-of-use assets and share based compensation. We believe estimates and assumptions related to these critical accounting policies are appropriate under the circumstances; however, should future events or occurrences result in unanticipated consequences, there could be a material impact on our future financial conditions or results of operations. We suggest that our significant accounting policies be read in conjunction with this Management’s Discussion and Analysis of Financial Condition and Results of Operations of this Quarterly Report on Form 10-Q.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-49500000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2820000 usd
CY2024Q3 BMRA Working Capital
WorkingCapital
-4294000 usd
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
90000000 shares
CY2021Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
15000000 shares
CY2023Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
20000000 usd
CY2024Q2 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
5500000 usd
CY2024Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
81000 usd
CY2024Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
83068 shares
CY2024Q3 us-gaap Share Price
SharePrice
0.59
CY2024Q2 us-gaap Share Price
SharePrice
0.28
CY2024Q3 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_848_eus-gaap--ConcentrationRiskCreditRisk_z5eHHNeUqSC6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zbHuWrPfhOSl">CONCENTRATION OF CREDIT RISK</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains cash balances at certain financial institutions in excess of amounts insured by federal agencies. From time to time, the Company has uninsured balances. The Company does not believe it is exposed to any significant credit risks.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company provides credit in the normal course of business to customers throughout the United States and in foreign markets. The Company performs ongoing credit evaluations of its customers and requires accelerated prepayment in some circumstances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated net sales were approximately $<span id="xdx_902_eus-gaap--Revenues_c20240601__20240831_zEtfYgmN2xj4" title="Revenues">1,807,000</span> for the three months ended August 31, 2024, compared to $<span id="xdx_904_eus-gaap--Revenues_c20230601__20230831_zdpqs8kyFEMi" title="Revenues">1,713,000</span> for the same period in 2023. For the three months ended August 31, 2024, the Company had two key customers located in North America and Asia, respectively, who collectively accounted for <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240601__20240831__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoKeyCustomersMember__srt--StatementGeographicalAxis__custom--NorthAmericaAndAsiaMember_zdOeNLzXqs6a" title="Concentration risk, percentage">55</span>% of net sales. For the three months ended August 31, 2023, the Company had one key customer located in a Asia, accounting for <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230601__20230831__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneKeyCustomersMember__srt--StatementGeographicalAxis__custom--ForeignCountriesMember_z0GpM1MWI7Bk" title="Concentration risk, percentage">59</span>% of net sales.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of August 31, 2024, and May 31, 2024, total gross receivables were approximately $<span id="xdx_90A_eus-gaap--OtherReceivablesGrossCurrent_iI_c20240831_z7aQ0TjiHVvg" title="Other receivables, gross, current">1,582,000</span> and $<span id="xdx_901_eus-gaap--OtherReceivablesGrossCurrent_iI_c20240531_zYK1VSp98Si7" title="Other receivables, gross, current">966,000</span>, respectively. On these dates, the Company had two and four key customers, respectively, located in Asia and Europe. These customers accounted for <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240601__20240831__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoKeyCustomersMember__srt--StatementGeographicalAxis__srt--AsiaMember_zAlk5U1pVoBd" title="Concentration risk, percentage">67</span>% and <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230601__20240531__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FourKeyCustomersMember__srt--StatementGeographicalAxis__srt--EuropeMember_ziUZqoYA5tLk" title="Concentration risk, percentage">64</span>% of the gross accounts receivable, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended August 31, 2024, and 2023, two and one key vendors accounted for <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240601__20240831__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoKeyVendorsMember_zPmjjlP3Ffh1" title="Concentration risk, percentage">34</span>% and <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230601__20230831__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneKeyVendorsMember_zp7xDI7r3jw4" title="Concentration risk, percentage">12</span>% of the purchases of raw materials, respectively. As of August 31, 2024, and May 31, 2024, one and two key vendors represented <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240601__20240831__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneKeyVendorsMember_zRtvjQasih92" title="Concentration risk, percentage">24</span>% and <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230601__20240531__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoKeyVendorsMember_zkrZTEhRKGdh" title="Concentration risk, percentage">69</span>% of the Company’s accounts payable, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Revenues
Revenues
1807000 usd
CY2023Q3 us-gaap Revenues
Revenues
1713000 usd
CY2024Q3 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
1582000 usd
CY2024Q2 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
966000 usd
CY2024Q3 us-gaap Threshold Period Past Due For Writeoff Of Trade Accounts Receivable
ThresholdPeriodPastDueForWriteoffOfTradeAccountsReceivable
P90D
CY2024Q3 BMRA Accounts Receivable Credit Loss Expense Reversal
AccountsReceivableCreditLossExpenseReversal
31000 usd
CY2024Q2 BMRA Accounts Receivable Credit Loss Expense Reversal
AccountsReceivableCreditLossExpenseReversal
19000 usd
CY2024Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
132000 usd
CY2024Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
238000 usd
CY2024Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
1442000 usd
CY2024Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
1519000 usd
CY2024Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
756000 usd
CY2024Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
1145000 usd
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
216000 usd
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
179000 usd
CY2024Q3 us-gaap Inventory Gross
InventoryGross
2414000 usd
CY2024Q2 us-gaap Inventory Gross
InventoryGross
2843000 usd
CY2024Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
472000 usd
CY2024Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
467000 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
1942000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
2376000 usd
CY2024Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
472000 usd
CY2024Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
467000 usd
CY2024Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5000 usd
CY2024Q3 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
CY2023Q3 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
77000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
170000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3479616 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.53
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
67000 shares
CY2024Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.44
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
240500 shares
CY2024Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.03
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3306116 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.53
CY2024Q3 us-gaap Proceeds From Customers
ProceedsFromCustomers
85000 usd
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1807000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1713000 usd
CY2024Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
297000 usd
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
472000 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4000 usd
CY2024Q3 us-gaap Advertising Expense
AdvertisingExpense
14000 usd
CY2023Q3 us-gaap Advertising Expense
AdvertisingExpense
30000 usd
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3306116 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2363116 shares
CY2023Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
20000000 usd
CY2024Q2 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
5500000 usd
CY2024Q3 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2024Q3 us-gaap Revenues
Revenues
1807000 usd
CY2023Q3 us-gaap Revenues
Revenues
1713000 usd
CY2024Q3 us-gaap Area Of Land
AreaOfLand
22000 sqft
CY2024Q3 us-gaap Security Deposit
SecurityDeposit
22000 usd
CY2016Q4 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
In November 2016, the Company’s Mexican subsidiary, Biomerica de Mexico, entered into a 10-year lease for approximately 8,100 square feet of manufacturing space. The Company has one 10-year option to renew at the end of the initial lease period. Biomerica de Mexico also leases a smaller unit on a month-to-month basis for use in the Company’s manufacturing process.
CY2016Q4 us-gaap Area Of Land
AreaOfLand
8100 sqft
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
88000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
88000 usd
CY2024Q3 us-gaap Variable Lease Cost
VariableLeaseCost
2000 usd
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
3000 usd
CY2024Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
2000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
5000 usd
CY2024Q3 us-gaap Lease Cost
LeaseCost
92000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
96000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
368000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
378000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
7000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
753000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
46000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
707000 usd
CY2024Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
90000 usd
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
87000 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y7D
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y7D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0650 pure
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0650 pure

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