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Rafael Holdings Inc. Class B (RFL-4.08%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing details the company's financial performance, including a net loss attributable to Rafael Holdings, Inc. of $4.6 million for the three months ended January 31, 2025, compared to a net income of $6.0 million in the same period the previous year.
The company reported total revenue of $77,000 for the quarter, primarily from its real estate segment, compared to $68,000 in the previous year. The increase is attributed to higher rental income from third-party tenants.
The healthcare segment, which includes investments in clinical and early-stage pharmaceutical companies, reported a loss from operations of $3.3 million, slightly higher than the $3.1 million loss in the previous year. This segment has not generated any revenue to date.
The infusion technology segment, which includes Day Three Labs, reported a loss from operations of $3.4 million, primarily due to a $3.1 million goodwill impairment charge.
Rafael Holdings' real estate segment, which consists of a commercial building in Israel, reported income from operations of $15,000, compared to $5,000 in the previous year.
The company recorded an unrealized gain of $614,000 on its investment in Cyclo Therapeutics, Inc., a clinical-stage biotechnology company, during the quarter.
Interest income for the quarter was $489,000, down from $693,000 in the previous year, due to the sale of available-for-sale securities in November 2024.
Rafael Holdings has a working capital of $58.7 million as of January 31, 2025, with cash and cash equivalents totaling $48.3 million.
The company continues to focus on its planned merger with Cyclo Therapeutics, Inc., which is expected to close in the first quarter of 2025, subject to shareholder approvals and other customary closing conditions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Rafael Holdings Inc. Class B quarterly 10-Q report dated March 14, 2025. To report an error, please email earnings@qz.com.