Recent news highlights a Q3 earnings per share report showing a positive EPS of $0.11 compared to a loss of $0.31 in the prior year period.

• Scientific Industries, Inc. reported Q3 EPS of $0.11 compared to a loss of $0.31 in the same period last year, indicating an improvement in earnings performance [N1].

The company’s investment in bioprocessing systems with smart sensor technology and software analytics positions it in a growing niche within laboratory-scale bioprocessing. The recent sale of the Genie Division may allow focus on higher-growth segments. Strong liquidity ratios as of 2025 year-end provide a financial cushion. The company’s patents and ongoing product development efforts could support future revenue growth if market acceptance improves. The direct sales force and distributor network in key geographies support market penetration.

The company has a history of operating losses and an accumulated deficit exceeding $35 million as of 2025. The remaining Benchtop Laboratory Equipment segment is not yet profitable. The company depends heavily on a few major customers and vendors, creating concentration risk. Competition from larger firms with greater resources is significant. The company’s ability to raise additional capital is uncertain and may result in dilution or restrictive covenants. Market acceptance of bioprocessing products remains uncertain, and the company’s small scale limits its ability to compete effectively.

Scientific Industries holds patents on its VIVID® automated pill counter and several bioprocessing products through its Aquila subsidiary, providing some intellectual property protection. The company’s focus on in-house product development and integration of smart sensors and software analytics in bioprocessing products may offer differentiation. However, the company operates in markets with larger competitors possessing greater financial and marketing resources, limiting its competitive moat. Customer concentration and reliance on key vendors also present challenges to competitive positioning.

• Financial Resource Constraints: The company has limited financial resources and may need to raise additional funding to continue product development and commercialization, especially in the bioprocessing sector. Failure to secure adequate financing could delay or reduce these efforts.
• Operating Losses and Profitability: The company has incurred net losses in recent years and has an accumulated deficit. The remaining Benchtop Laboratory Equipment segment is not yet profitable, and the company may continue to incur losses as it develops its bioprocessing operations.
• Customer and Vendor Concentration: A significant portion of sales and purchases are concentrated with a few customers and vendors, which could adversely affect the company if relationships are lost or terms change unfavorably.
• Competitive Pressure: The company faces competition from substantially larger companies with greater financial, production, and marketing resources, which may limit its market share and pricing power.
• Market Acceptance of Bioprocessing Products: The commercial success of bioprocessing products depends on market acceptance, which is uncertain and subject to rapid innovation and competition.
• Dependence on Intellectual Property: While the company holds patents on key products, there is no assurance that these provide competitive advantages or will not be challenged, potentially affecting product sales.
• Liquidity and Capital Market Risks: The company’s common stock is thinly traded with significant ownership concentration, leading to price volatility and potential difficulties in raising capital through equity markets.

• Scientific Industries, Inc. is a Delaware corporation incorporated in 1954 engaged in the design, manufacture, and marketing of benchtop laboratory equipment and bioprocessing systems through its wholly-owned subsidiary Scientific Bioprocessing Holdings, Inc. (SBHI) and its subsidiaries.
• The company operates two main segments: Benchtop Laboratory Equipment and Bioprocessing Systems.
• Benchtop Laboratory Equipment products include pharmacy and laboratory balances and scales, force gauges, automated pill counters, and moisture analyzers sold under the Torbal® and VIVID® brands.
• On August 7, 2025, the company sold substantially all assets of its Genie Division of Benchtop Laboratory Equipment to Troemner, LLC for $9.6 million plus earn-out provisions, and continues to operate the Torbal Division.
• Bioprocessing Systems products include smart sensor-based bioprocessing products such as the Cell Growth Quantifier (CGQ), Liquid Injection System (LIS), coaster systems, flow-through cells for pH and DO monitoring, Multi-Parameter Sensor (MPS), and Dissolved Oxygen sensor pills marketed under the DOTS brand.
• The company designs and develops substantially all products in-house, with outside consultants augmenting engineering capabilities.
• Significant investment is made in product development for Bioprocessing Systems, with continued investment in the VIVID® product line of Benchtop Laboratory Equipment.
• Major customers include one customer accounting for 31% of consolidated net revenues in 2025, primarily for VIVID® pill counters.
• Major vendors include one vendor representing approximately 15% of consolidated net purchases in 2025.
• Marketing for Benchtop Laboratory Equipment is primarily online and through distributors; VIVID® automated pill counters are sold through two exclusive North American distributors.
• Bioprocessing Systems products are marketed through a direct sales force in the US and Germany and a network of 11 distributors, supported by marketing campaigns and research partnerships.
• Production facilities are located in Bohemia and Pearl River, New York for Benchtop Laboratory Equipment, and Baesweiler, Germany for Bioprocessing Systems.
• The company holds patents for the VIVID® automated pill counter (expiring 2039) and several US, European, and German patents for bioprocessing products held by its Aquila subsidiary, with additional patent applications pending.
• Foreign sales accounted for approximately 17% of net revenue in 2025, primarily in Asia and Europe, with payments mostly in USD.
• The company does not consider its business materially seasonal and does not have a material backlog of orders due to short production and shipping times.
• The company faces competition from larger companies with greater resources in both segments.
• Research and development expenses were $2.49 million in 2025, primarily related to Bioprocessing Systems, with continued material R&D expenses anticipated.
• The company incurred net losses of $1.22 million in 2025 and $6.45 million in 2024, with an accumulated deficit of $35.15 million as of December 31, 2025.
• The company sold its profitable Genie Division in August 2025; the remaining Torbal division is not yet profitable.
• As of September 30, 2023, cash and cash equivalents were $515,400; short-term investments were $5,298,600 as of September 30, 2022.
• As of December 31, 2025, current assets were $10,388,900 and current liabilities were $1,349,300, resulting in a current ratio of 7.7 and a cash ratio of 4.31.
• The company has limited financial resources and may need to raise additional funding to support product development and commercialization, especially in bioprocessing.
• The company has no committed external source of funds and may seek financing through equity, debt, collaborations, licensing, or divestitures, which could dilute shareholders or impose restrictions.
• The company employs 55 persons as of March 31, 2026, with 21 in Benchtop Laboratory Equipment and 34 in Bioprocessing Systems, mostly in Europe.
• The company’s products do not require FDA or other governmental approval but are subject to environmental and occupational safety regulations.
• The company’s common stock is thinly traded on the OTC Bulletin Board with significant ownership concentration and price volatility.
• Recent news includes a Q3 EPS report showing earnings per share of $0.11 compared to a loss of $0.31 last year [N1].