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home / news releases / BMRA - Biomercia rallies after sailing past Q2 revenue estimates: Prelim

BMRA - Biomercia rallies after sailing past Q2 revenue estimates: Prelim

Biomerica Inc.
Biomercia (NASDAQ:BMRA) is up 12% in pre-market trading after the company reported 238% revenue growth in its Q2 preliminary earnings report. Revenue made a easy beat at $4.6M (+238% Y/Y), compared to the market consensus of $1.81M. The increase reflects the surge in demand for Covid testing during the quarter. "As the virus continues to present new variants, we anticipate demand for these tests as well as our at-home tests for other diseases to remain strong," says Chairman and CEO Zack Irani. However, the company experienced logistics constraints and significantly higher shipping costs which had a material negative impact on margins and profits during the second quarter. Operating loss to range between $0.9-$1.3M. Biomercia enters the third quarter with over $4M in orders backlog and over $7M of cash on the balance sheet. SA Authors, Wall Street and Quant Rating is Bullish on the stock.

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Biomercia rallies after sailing past Q2 revenue estimates: Prelim
Stock Information
Company Name: Biomerica Inc.
Stock Symbol: BMRA
Market: NASDAQ
Website: biomerica.com
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