Canada's Microbix Biosystems Q2 revenue falls 37% on weaker China sales

Microbix Biosystems

14/05/2026 13:11

Overview

Canada diagnostics ingredients maker's fiscal Q2 revenue fell 37% yr/yr on weaker China antigen sales

Company posted a net loss for Q2 versus a profit a year earlier

Gross margin fell to 48% from 60% in Q2 2025

Outlook

Microbix anticipates full-year 2026 results in-line with guidance in its current MD&A

Company is pursuing new client programs and clients to drive sales growth

Result Drivers

CHINA ANTIGEN SALES DROP - Co said Q2 antigen revenue fell 40% yr/yr due to a C$2 mln reduction in sales to its China distributor, citing lower respiratory disease incidence and tighter test-access and reimbursement policies

OTHER ANTIGEN SALES UP - Co said sales to other antigen customers rose 13% yr/yr in Q2, partially offsetting the China decline

QAPS REVENUE TIMING - QAPs revenues fell 28% yr/yr in Q2, mainly due to timing of key customer shipments

Company press release: ID:nACSvn4Wra

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
C$3.37 mln
C$4.60 mln (1 Analyst)
Q2 EPS
-C$0.01
Q2 Gross Margin
48.00%


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Microbix Biosystems Inc is C$0.50, about 96.1% above its May 13 closing price of C$0.26

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)