Pharma-Bio Serv Inc (OTC: PBSV) is a regulatory compliance consulting company that provides technical consulting services to the pharmaceutical, chemical, biotechnology, medical device, cosmetic, and food industries. Revenue comes almost entirely from time and materials contracts, where clients are billed for hours worked and expenses incurred per project, representing approximately 99% of total revenue as of FY2025 (year ended October 31, 2025). The remaining approximately 1% comes from fixed-fee or "not to exceed" contracts. During FY2025, the company serviced approximately 70 customers, predominantly large pharmaceutical, chemical manufacturing, medical device, and biotechnology companies. Operations are concentrated in Puerto Rico, the United States, and Europe, with a smaller presence in Brazil. As of January 1, 2026, the company transitioned to a fully remote operating model, maintaining only one physical office in Madrid, Spain. The company is organized as a Delaware corporation and pays a cash dividend, most recently $0.075 per common share in March 2025.

Revenue model

Approximately 99% of revenue is derived from time and materials contracts, where clients are charged for consultant hours and expenses on a project basis. Approximately 1% of revenue comes from fixed-fee or "not to exceed" short-term contracts. Revenue scales directly with the number of consultants deployed and hours billed per consultant (FY2025, 10-K filed 2026-01-29).

Products and services

Technical consulting services covering FDA and international regulatory compliance, quality assurance, validation, technology transfer, engineering, project management, and process support, delivered to the pharmaceutical, chemical, biotechnology, medical device, cosmetic, and food industries (FY2025, 10-K filed 2026-01-29).

Customers and end markets

Approximately 70 customers serviced during FY2025, concentrated among large pharmaceutical, chemical manufacturing, medical device, and biotechnology companies. Core end market is FDA and international regulatory compliance. Client spending decisions are the primary demand driver (FY2025, 10-K filed 2026-01-29).

Value-chain role

Third-party compliance and technical consulting services provider sitting between regulated life sciences manufacturers and regulatory bodies such as the FDA and international agencies.

Geographic exposure

Active operations in Puerto Rico, the United States, and Europe, with a lesser presence in Brazil. As of January 1, 2026, administratively remote, with one office in Madrid, Spain (10-K filed 2026-01-29).

Source: SEC 10-K, filed 2026-01-29

Industry: Services-Management Consulting Services