Canada's Microbix Q3 revenue rises on higher antigen, QAPs sales

Microbix Biosystems

13/08/2026 13:01

Overview
Canada life sciences manufacturer's fiscal Q3 revenue rose 17% yr/yr
Company's net loss narrowed from prior year as gross margin improved to 54%
Growth driven by higher antigen and QAPs sales to new and existing customers

Outlook
Microbix expects full-year 2026 results in line with guidance in its current MD&A
Company is pursuing new client programs and aims to drive sales growth across all business lines
Microbix aims to improve gross margins and deliver bottom-line results

Result Drivers
ANTIGEN SALES - Q3 antigen revenue rose 20% yr/yr, mainly due to sales to a key customer increasing by over 40%
QAPS SALES - QAPs revenue grew 13% yr/yr, primarily from new customers for PTDx category products
IMPROVED MARGINS - Gross margin rose to 54% from 41% last yr, as increased antigen and QAPs sales covered more fixed manufacturing costs and manufacturing-related operating expenses declined

Company press release: ID:nACSfBYC1a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
C$4.10 mln
C$5.20 mln (1 Analyst)
Q3 Gross Margin
 
54.00%
 

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$0.40, about 25% above its August 12 closing price of C$0.32

Reuters Recommended Reads
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Aug 12 - Bio-Techne beats revenue estimates on research, diagnostics demand uptick
Aug 10 - Mesa Labs Q1 revenue rises as calibration, biopharma units grow

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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.)