The following is a summary of the Nanalysis Scientific Corp. (NSCIF) Q4 2023 Earnings Call Transcript:
Financial Performance:
Nanalysis reported Q4 2023 revenue of $9.8 million, up 36% compared to Q4 2022. This included $5.5 million from product sales and $4.4 million from service revenue.
The company incurred an EBITDA loss of $774,000, a marked improvement from the $2.5 million loss in 2022.
Full-year consolidated revenue for 2023 was $28 million, up 15% compared to the prior year.
Gross margin percentage for product sales was 41% for the 12-month period, lower than 49% in the previous year due to market and supply chain issues. However, this figure is expected to improve due to cost-cutting initiatives and market improvements.
Business Progress:
Nanalysis expects high costs related to the Airport Security Project to decrease as the project becomes fully operational in 2024.
High expectations are held for the high-field NMR product line, and progress is being made on a large custom MRI installation.
Significant cost-cutting measures such as layoffs, particularly in Q2, have resulted in improved gross margins in Q4 of 2023.
The company expects full-scale revenue and continued growth in Security Services in 2024.
More details: NANALYSIS SCIENTIFIC CORP IR
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