BMRAHIGH SIGNALFINANCIAL10-K

BMRA executed a 1-for-8 reverse stock split and experienced substantial deterioration across nearly all financial metrics, with cash declining 42.5% and total assets shrinking 36%.

The reverse stock split typically signals distress as companies use this mechanism to maintain exchange listing requirements when share prices fall too low. The broad-based financial deterioration, including significant cash burn and asset reduction, suggests the company is consuming resources faster than it can generate them, raising questions about operational sustainability.

Comparing 2025-08-29 vs 2024-08-28View on EDGAR →
FINANCIAL ANALYSIS

BMRA's financial position weakened meaningfully across the board, with cash and equivalents declining 42.5% to $2.4M and total assets contracting 36% to $5.9M. While operating cash flow improved modestly and the company reduced R&D expenses by 31%, the overall picture shows a company shrinking its operations and burning through cash reserves. The combination of reduced assets, lower cash position, and the necessity of a reverse stock split indicates significant financial stress.

FINANCIAL STATEMENT CHANGES
Net Interest Income
P&L
-61.7%
$431K→$165K

Net interest income declined 61.7% — margin compression from rate changes or funding cost increases.

Cash & Equivalents
Balance Sheet
-42.5%
$4.2M→$2.4M

Cash declined 42.5% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Stockholders Equity
Balance Sheet
-37.7%
$6.6M→$4.1M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

Inventory
Balance Sheet
-37.3%
$2.4M→$1.5M

Inventory drawn down 37.3% — strong sell-through or deliberate destocking; watch for supply constraints.

Current Assets
Balance Sheet
-36.9%
$7.7M→$4.9M

Current assets declined 36.9% — monitor working capital adequacy and short-term liquidity.

Total Assets
Balance Sheet
-35.8%
$9.3M→$5.9M

Total assets contracted 35.8% — asset sales, write-downs, or balance sheet optimization underway.

R&D Expense
P&L
-31.4%
$1.5M→$1.0M

R&D spending cut 31.4% — could signal cost discipline or concerning reduction in innovation investment.

Total Liabilities
Balance Sheet
-30.9%
$2.7M→$1.8M

Liabilities reduced 30.9% — deleveraging improves balance sheet strength and financial flexibility.

Operating Cash Flow
Cash Flow
+28.4%
-$5.4M→-$3.8M

Operating cash flow grew 28.4% — strong conversion of earnings to cash, healthy business fundamentals.

Accounts Receivable
Balance Sheet
-22.8%
$947K→$731K

Receivables declined — improved collection efficiency or conservative revenue recognition.

LANGUAGE CHANGES
NEW — 2025-08-29
PRIOR — 2024-08-28
ADDED
The stock price and the number of shares takes into account a 1-for-8 reverse stock split which became effective on April 21, 2025 (the Reverse Stock Split ).
The outstanding number of shares of common stock, par value $ 0.08 , as of August 29, 2025 was 2,815,410 .
Securities Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
All statements in this Annual Report, other than statements of historical facts, including, without limitation, statements regarding our strategy, future operations, future operating expenses, future financial position, future revenue, projected costs, prospects, plans, intentions, expectations, goals and objectives may be forward-looking statements.
In some cases, you can identify forward-looking statements by words such as believe, expect, anticipate, contemplate, estimate, project, forecast, would, may, should, will, could, can, potential, possible, proposed, plan, develop, opportunity, intend, initiative, target, maintain, continue, strive, progress, aim, or the negative of these terms or other comparable expressions.
We intend that such forward-looking statements be subject to the safe harbors for such statements.
You should not place undue reliance on these forward-looking statements, which are subject to significant known and unknown risks, uncertainties and other factors, which are in some cases, beyond our control and which could materially affect results.
Except as required by law, we do not undertake any obligation to revise or update publicly any forward-looking statements, whether as a result of new information, future events or otherwise .
If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
MARKET FOR REGISTRANT S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 20 ITEM 6.
REMOVED
The outstanding number of shares of common stock, par value $ 0.08 , as of August 28, 2024 was 16,821,646 .
Such statements include declarations regarding our intent, belief, or current expectations, and those of our management.
In some cases, you can identify forward-looking statements by terminology such as may, will, should, expects, intends, plans, anticipates, believes, estimates, predicts, potential or continue or the negative of these terms or other comparable terminology.
Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks, uncertainties and other factors, some of which are beyond our control.
Except as required by law, we undertake no obligation to revise or update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
( Biomerica, the Company, we, us, or our ) was incorporated in Delaware in September 1971 as Nuclear Medical Systems, Inc., and later changed its name to Biomerica, Inc.
The Company has two wholly owned subsidiaries, Biomerica de Mexico, which is used for assembly/manufacturing, and BioEurope GmbH, which acts as a distributor of Biomerica products in certain markets.
We are a global biomedical technology company that develops, patents, manufactures and markets advanced diagnostic and therapeutic products.
Our diagnostic test kits are utilized in the analysis of blood, urine, nasal, or fecal samples for the diagnosis of various diseases, food intolerances, and other medical conditions.
These kits also measure levels of specific hormones, antibodies, antigens, and other substances, which may exist in the human body at extremely low concentrations.
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