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Zeo ScientifiX Inc. (ZEOX+11.81%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The company's revenues for the quarter were $1,090,000, a decrease from $1,154,000 in the same quarter the previous year. The decrease was attributed to a reduction in units sold of the company's biologic products.
Cost of revenues increased to $191,000 from $159,000 in the previous year, primarily due to increased costs associated with the PPX™ service platform.
The company reported a gross profit of $899,000, down from $995,000 in the previous year. The decline was due to decreased sales of high concentration biologic products.
General and administrative expenses for the quarter were $2,152,000, slightly down from $2,157,000 in the previous year. The decrease was mainly due to reduced payroll and consulting fees.
Other income for the quarter was $32,000, compared to $149,000 in the previous year. The decrease was due to non-recurring income from an insurance claim and settlement of liabilities in the previous year.
Net loss for the quarter was $1,243,000, compared to $1,040,000 in the previous year. The increase in net loss was due to decreased gross profit and other income.
Cash provided by operating activities was $65,000, while cash used in financing activities was $2,000.
The company had a working capital deficit of $2,259,000 as of January 31, 2025. Management anticipates the need for additional investment capital to fund ongoing operations.
Zeo ScientifiX continues to focus on developing innovative biological therapeutics for degenerative diseases and regenerative medicine, with products such as Zofin™ and PPX™.
The company has not obtained any opinion or ruling on whether its products fall under FDA regulations for human cells, tissues, and cellular and tissue-based products, but continues to pursue clinical trials and international sales expansion.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Zeo ScientifiX Inc. quarterly 10-Q report dated March 17, 2025. To report an error, please email earnings@qz.com.