Canada's Microbix Q1 revenue down 30% on China sales decline

Microbix Biosystems

12/02/2026 12:28

Overview

Canada life sciences firm's fiscal Q1 revenue rose 13% from Q4 2025

Q1 revenue down 30% yr/yr due to reduced sales to China

Company reported a net loss of C$1.17 mln for fiscal Q1

Outlook

Microbix anticipates full-year fiscal 2026 results in-line with previously disclosed guidance

Company is pursuing new client programs to drive sales growth across all business lines

Microbix aims to improve gross margins and deliver bottom-line results

Result Drivers

CHINA SALES DECLINE - Significant reduction in sales to China impacted overall revenue, with antigen sales down 49% from last year

QAPs SALES INCREASE - QAPs revenues rose 15% year-over-year, driven by a doubling of branded QAPs product sales

GROSS MARGIN DECLINE - Gross margin fell to 41% from 62% last year, attributed to decreased product sales and fixed costs spread over fewer units

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
C$4.20 mln
C$3.90 mln (1 Analyst)
Q1 Gross Margin
41.00%


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 117.4% above its February 11 closing price of C$0.23

Press Release: ID:nACS38bqFa

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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.)