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Pure Bioscience Inc (PURE-2.61%). has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing net product sales of $391,000, an increase from $325,000 in the same quarter the previous year. The increase is attributed to increased sales across the company's distribution network.
Cost of goods sold for the quarter was $164,000, compared to $149,000 in the previous year. The increase in cost is primarily due to increased sales.
The company reported a gross profit of $227,000 for the quarter, compared to $177,000 in the previous year. The gross margin percentage increased to 58% from 54% due to higher margin packaging configurations.
Selling, general, and administrative expenses decreased to $871,000 from $1,065,000, primarily due to decreased personnel costs and professional service fees.
Research and development expenses were $81,000, up slightly from $76,000 in the previous year.
Net loss for the quarter was $798,000, compared to $1,002,000 in the previous year. The decrease in net loss is attributed to reduced operating expenses.
Cash used in operating activities was $1,047,000 for the six months ended January 31, 2025. The company had $277,000 in cash and cash equivalents as of January 31, 2025.
Pure Bioscience has a stockholder deficiency of $4,267,000 as of January 31, 2025. The company acknowledges substantial doubt regarding its ability to continue as a going concern.
The company continues to focus on developing and commercializing its proprietary antimicrobial products, particularly in the food industry, and is exploring licensing and distribution collaborations to expand its market reach.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Pure Bioscience Inc quarterly 10-Q report dated March 17, 2025. To report an error, please email earnings@qz.com.