Biomerica (BMRA)
Market Price (8/5/2026): $1.53 | Market Cap: $4.6 MilSector: Health Care | Industry: Life Sciences Tools & Services
Biomerica (BMRA)
Market Price (8/5/2026): $1.53Market Cap: $4.6 MilSector: Health CareIndustry: Life Sciences Tools & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -25% Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, and Aging Population & Chronic Disease. Themes include Advanced Diagnostics, Show more. | Weak multi-year price returns2Y Excs Rtn is -86%, 3Y Excs Rtn is -155% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -5.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -124% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -24%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -21%, Rev Chg QQuarterly Revenue Change % is -12% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 11% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -73%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -73% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -95% Key risksBMRA key risks include [1] severe financial distress, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -25% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, and Aging Population & Chronic Disease. Themes include Advanced Diagnostics, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -86%, 3Y Excs Rtn is -155% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -5.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -124% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -24%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -21%, Rev Chg QQuarterly Revenue Change % is -12% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -73%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -73% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -95% |
| Key risksBMRA key risks include [1] severe financial distress, Show more. |
Qualitative Assessment
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Biomerica (BMRA) stock has lost about 30% since 4/30/2026 because of the following key factors:
1. Underwhelming Fiscal Q3 2026 Financial Results. Biomerica reported its financial results for fiscal Q3 2026 (ended February 28, 2026) on April 13, 2026, revealing a decline in net sales and an increased net loss. Net sales decreased to $0.99 million from $1.12 million year-over-year, representing an 11.6% reduction, while the net loss increased to $1.31 million from $1.16 million year-over-year. The reported Earnings Per Share (EPS) of -$0.44 also fell significantly short of analysts' expectations by 63.33%. These results, released just before the specified period, likely contributed to negative investor sentiment.
2. Persistent Operational Losses and Negative EBITDA. The company continues to face significant operational losses, which undermine investor confidence. For fiscal year 2025, Biomerica reported losses of -$4.97 million. As of August 1, 2026, the company's EBITDA stands at -$4.94 million, with an EBITDA margin of -89.19%. The Q3 fiscal 2026 report further highlighted this trend with a net loss of $1.31 million, indicating an ongoing challenge in achieving profitability.
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Biomerica (BMRA) stock has lost about 30% since 4/30/2026 because of the following key factors:
1. Underwhelming Fiscal Q3 2026 Financial Results. Biomerica reported its financial results for fiscal Q3 2026 (ended February 28, 2026) on April 13, 2026, revealing a decline in net sales and an increased net loss. Net sales decreased to $0.99 million from $1.12 million year-over-year, representing an 11.6% reduction, while the net loss increased to $1.31 million from $1.16 million year-over-year. The reported Earnings Per Share (EPS) of -$0.44 also fell significantly short of analysts' expectations by 63.33%. These results, released just before the specified period, likely contributed to negative investor sentiment.
2. Persistent Operational Losses and Negative EBITDA. The company continues to face significant operational losses, which undermine investor confidence. For fiscal year 2025, Biomerica reported losses of -$4.97 million. As of August 1, 2026, the company's EBITDA stands at -$4.94 million, with an EBITDA margin of -89.19%. The Q3 fiscal 2026 report further highlighted this trend with a net loss of $1.31 million, indicating an ongoing challenge in achieving profitability.
3. Low Revenue Base Despite Commercial Progress. Despite certain positive developments, such as the Centers for Medicare & Medicaid Services (CMS) establishing a $300 national Medicare payment rate for the inFoods® IBS test effective January 1, 2026, and the announcement of a $1.75 million CDMO Master Services Agreement on May 28, 2026, the company's overall net sales remain low at $0.99 million in fiscal Q3 2026. These positive events have not yet translated into substantial or sustained revenue growth sufficient to offset the company's expenditure and instill broad investor confidence.
4. Negative Analyst and Technical Sentiment. Biomerica's stock has been subject to a bearish outlook from technical analysis. As of July 24, 2026, technical indicators signaled a "strong sell" for BMRA stock, further corroborated by "sell signals from both short and long-term Moving Averages". The stock was explicitly identified as a "Sell candidate since Jun 18, 2026," reflecting a loss of 11.45% up to that point. This negative technical assessment likely intensified selling pressure and contributed to the stock's decline.
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Stock Movement Drivers
Fundamental Drivers
The -29.8% change in BMRA stock from 4/30/2026 to 8/4/2026 was primarily driven by a -29.8% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 8042026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.18 | 1.53 | -29.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4 | 4 | 0.0% |
| P/S Multiple | 1.5 | 1.1 | -29.8% |
| Shares Outstanding (Mil) | 3 | 3 | 0.0% |
| Cumulative Contribution | -29.8% |
Market Drivers
4/30/2026 to 8/4/2026| Return | Correlation | |
|---|---|---|
| BMRA | -29.8% | |
| Market (SPY) | 7.3% | 13.7% |
| Sector (XLV) | 11.0% | 20.2% |
Fundamental Drivers
The -35.6% change in BMRA stock from 1/31/2026 to 8/4/2026 was primarily driven by a -31.3% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 8042026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.38 | 1.53 | -35.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4 | 4 | -3.0% |
| P/S Multiple | 1.5 | 1.1 | -31.3% |
| Shares Outstanding (Mil) | 3 | 3 | -3.4% |
| Cumulative Contribution | -35.6% |
Market Drivers
1/31/2026 to 8/4/2026| Return | Correlation | |
|---|---|---|
| BMRA | -35.6% | |
| Market (SPY) | 11.8% | 20.1% |
| Sector (XLV) | 5.2% | 19.8% |
Fundamental Drivers
The -52.8% change in BMRA stock from 7/31/2025 to 8/4/2026 was primarily driven by a -23.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312025 | 8042026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.24 | 1.53 | -52.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6 | 4 | -23.8% |
| P/S Multiple | 1.4 | 1.1 | -22.2% |
| Shares Outstanding (Mil) | 2 | 3 | -20.3% |
| Cumulative Contribution | -52.8% |
Market Drivers
7/31/2025 to 8/4/2026| Return | Correlation | |
|---|---|---|
| BMRA | -52.8% | |
| Market (SPY) | 23.1% | 16.2% |
| Sector (XLV) | 25.9% | 12.5% |
Fundamental Drivers
The -85.5% change in BMRA stock from 7/31/2023 to 8/4/2026 was primarily driven by a -54.6% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312023 | 8042026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.56 | 1.53 | -85.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 10 | 4 | -54.6% |
| P/S Multiple | 1.9 | 1.1 | -43.0% |
| Shares Outstanding (Mil) | 2 | 3 | -44.0% |
| Cumulative Contribution | -85.5% |
Market Drivers
7/31/2023 to 8/4/2026| Return | Correlation | |
|---|---|---|
| BMRA | -85.5% | |
| Market (SPY) | 74.4% | 14.0% |
| Sector (XLV) | 26.5% | 7.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BMRA Return | -22% | -14% | -63% | -76% | 5% | -39% | -96% |
| Peers Return | 25% | -16% | -7% | -7% | -2% | 7% | -5% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| BMRA Win Rate | 50% | 50% | 25% | 33% | 42% | 50% | |
| Peers Win Rate | 67% | 45% | 47% | 52% | 55% | 52% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| BMRA Max Drawdown | -57% | -44% | -80% | -79% | -74% | -48% | |
| Peers Max Drawdown | -22% | -32% | -26% | -24% | -31% | -30% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: QDEL, BDX, LH, DGX, TMO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/4/2026 (YTD)
How Low Can It Go
| Event | BMRA | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -34.0% | -7.8% |
| % Gain to Breakeven | 51.5% | 8.5% |
| Time to Breakeven | 15 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -49.3% | -9.5% |
| % Gain to Breakeven | 97.2% | 10.5% |
| Time to Breakeven | 74 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -37.3% | -24.5% |
| % Gain to Breakeven | 59.4% | 32.4% |
| Time to Breakeven | 129 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -16.0% | -33.7% |
| % Gain to Breakeven | 19.0% | 50.9% |
| Time to Breakeven | 1 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -51.6% | -19.2% |
| % Gain to Breakeven | 106.5% | 23.8% |
| Time to Breakeven | 212 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -37.3% | -3.7% |
| % Gain to Breakeven | 59.4% | 3.9% |
| Time to Breakeven | 27 days | 6 days |
In The Past
Biomerica's stock fell -34.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 51.5% gain to breakeven.
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Asset Allocation
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| Event | BMRA | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -34.0% | -7.8% |
| % Gain to Breakeven | 51.5% | 8.5% |
| Time to Breakeven | 15 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -49.3% | -9.5% |
| % Gain to Breakeven | 97.2% | 10.5% |
| Time to Breakeven | 74 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -37.3% | -24.5% |
| % Gain to Breakeven | 59.4% | 32.4% |
| Time to Breakeven | 129 days | 427 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -51.6% | -19.2% |
| % Gain to Breakeven | 106.5% | 23.8% |
| Time to Breakeven | 212 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -37.3% | -3.7% |
| % Gain to Breakeven | 59.4% | 3.9% |
| Time to Breakeven | 27 days | 6 days |
| 2013 Taper Tantrum | ||
| % Loss | -25.2% | -0.2% |
| % Gain to Breakeven | 33.8% | 0.2% |
| Time to Breakeven | 983 days | 1 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -22.4% | -15.4% |
| % Gain to Breakeven | 28.9% | 18.2% |
| Time to Breakeven | 210 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -68.8% | -53.4% |
| % Gain to Breakeven | 220.0% | 114.4% |
| Time to Breakeven | 1459 days | 1085 days |
In The Past
Biomerica's stock fell -34.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 51.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Biomerica (BMRA)
Biomerica, Inc. (BMRA) is a biomedical technology company focused on the development, manufacturing, and global marketing of diagnostic and therapeutic products. The company primarily creates diagnostic test kits designed to analyze patient specimens such as blood, urine, or fecal matter. These kits are crucial for detecting and/or treating various medical conditions and diseases by measuring specific substances, including bacteria, hormones, antibodies, antigens, or other compounds present in the body in even minute concentrations.
The company's current product portfolio and development pipeline address several key health areas. Its diagnostic products are widely used for identifying gastrointestinal diseases, food intolerances, diabetes, and a variety of esoteric conditions. Beyond its existing offerings, Biomerica is actively developing new technologies, notably InFoods, an innovative therapy and diagnostic-guided system for irritable bowel syndrome (IBS), as well as products for Helicobacter pylori and diagnostic tests for COVID-19 infection.
Biomerica serves a broad range of customers and markets globally. Its diagnostic and therapeutic solutions are distributed to physicians' offices, over-the-counter drugstores, and hospital/clinical laboratories. This allows the company to reach both healthcare professionals for clinical use and, where applicable, consumers for at-home testing or over-the-counter access.
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Here are a couple of analogies for Biomerica:
- Imagine a smaller, more focused Abbott Laboratories that develops diagnostic test kits, particularly for gut health.
- They're like a specialized Becton Dickinson (BD), concentrating on diagnostic products for conditions such as gastrointestinal diseases.
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- Diagnostic Test Kits: These kits analyze patient samples (blood, urine, or fecal) to diagnose various medical conditions like gastrointestinal diseases, food intolerances, diabetes, and esoteric tests, or to measure specific substances.
- InFoods: A proprietary irritable bowel syndrome (IBS) therapy technology that includes diagnostic-guided therapy.
- Helicobacter pylori Products: Diagnostic and/or therapeutic products specifically developed for Helicobacter pylori infections.
- COVID-19 Diagnostic Products: Diagnostic products developed and sold for the detection of COVID-19 infection.
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Biomerica (BMRA) primarily sells its diagnostic and therapeutic products to other companies and institutions within the healthcare and retail pharmacy sectors.
Based on the company's description of its sales channels, its major customers are found within the following categories of businesses:
- Over-the-counter drugstores: These are major retail pharmacy chains that distribute diagnostic and therapeutic products. Examples of major public companies in this category that would typically be customers include:
- CVS Health (CVS)
- Walgreens Boots Alliance (WBA)
- Hospital/clinical laboratories: These are large organizations that perform diagnostic testing, for which Biomerica sells its test kits. Examples of major public companies in this sector include:
- Quest Diagnostics (DGX)
- Laboratory Corporation of America Holdings (LH)
- HCA Healthcare (HCA), a large hospital system that operates numerous clinical laboratories within its network.
- Physicians' offices: While Biomerica sells to physicians' offices, this category is generally highly fragmented and does not typically involve a few identifiable major corporate customers in the same way as large retail pharmacy chains or clinical laboratory networks.
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Zack Irani, Chief Executive Officer & Chairman of the Board
Mr. Zack Irani has served as Biomerica's Chairman of the Board and Chief Executive Officer since April 29, 1997. He has been an employee of the company since 1986, initially serving as Vice-President of Business Development. Outside of Biomerica, Mr. Irani served as the Chairman of the Board and Chief Executive Officer of Lancer Orthodontics, Inc. from April 1997 to April 2004. He is also a managing partner of T&T investment group, a real estate investment fund, and an investor/board member in Biospecimen Technologies and Oryn Therapeutics. His father, Joseph H. Irani, founded Biomerica.
Gary Lu, Chief Financial Officer
Mr. Gary Lu was appointed as Biomerica's Chief Financial Officer effective March 1, 2023. He previously held the position of Controller and Vice President of Finance at Happy Money from September 2019 to February 2023. His prior experience includes serving as Controller and Vice President of Finance at Verb Technology Company Inc, a Nasdaq-listed company, and Vice President Southwest Corporate Controller at FirstService Residential Management, Inc, a Nasdaq-listed subsidiary. Mr. Lu also served as Corporate Controller and Head of Finance at Hoag Orthopedic Institute, LLC and held various finance roles at Broadcom Inc, another Nasdaq-listed company. He began his career at Ernst & Young, LLP as an Assurance Manager. Mr. Lu is a Certified Public Accountant.
Allen Barbieri, Executive Vice Chairman
Mr. Allen Barbieri has been a Director of Biomerica since October 1999 and currently works as a private investor. He served as the Chief Executive Officer of Biosynthetic Technologies, a privately held renewable specialty chemicals company with BP and Monsanto as investors, from January 2010 to March 2018. Before that, he was the Chief Executive Officer of Lancer Orthodontics, Inc., a medical device company, from April 2004 to September 2009. Mr. Barbieri also served as President and Chief Financial Officer of BUY.COM, an internet retailer, from 1998 to 1999, and President and Chief Executive Officer of Pacific National Bank from 1994 to 1999. He currently serves on the board of directors of CareTrust REIT, Inc. (NASDAQ:CTRE).
Scott Madel, Chief Commercial Officer
Mr. Scott Madel was appointed as Biomerica's Chief Commercial Officer in June 2025, bringing over two decades of experience in clinical diagnostics and global expansion. He most recently served as President of Boston Heart Diagnostics, where he led an organizational turnaround and significantly increased revenue. Prior to that, Mr. Madel was the CEO of BioHealth Diagnostics and CEO of Genova Diagnostics Europe, having helped grow Genova Diagnostics to over $100 million in annual revenue by launching diagnostics for chronic disease and developing strategic partnerships across 45 countries. His early career includes field sales roles at Novartis Pharmaceuticals and Merck.
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The key risks to Biomerica's business operations are primarily financial viability, intense market competition for its core product, and regulatory hurdles inherent in the biomedical industry.
The most significant risk is the **company's ability to continue as a going concern**, due to ongoing financial challenges. Biomerica has reported declining revenue and consistent net losses, with management expressing substantial doubt about its ability to sustain operations without securing additional financing and successfully executing strategic plans. The company's financial health indicators, such as a negative Altman Z-Score, signal financial distress and a potential risk of bankruptcy. Despite efforts to raise capital, current cash reserves are projected to be insufficient for the next 12 months.
Secondly, Biomerica faces **significant competition and challenges in achieving widespread market adoption for its InFoods® IBS diagnostic-guided therapy**. The company's future growth heavily depends on the successful commercialization and insurance reimbursement for this platform. While clinical study results for InFoods® IBS have been positive, indicating moderate improvement for patients, the market is competitive, with larger players possessing greater financial resources. Doubts about the overall effectiveness of the test due to moderate improvement in studies could also hinder adoption.
Finally, Biomerica is subject to **ongoing regulatory challenges and uncertainties surrounding product approvals and market adoption**. Operating in the biomedical technology sector, the company must navigate stringent regulatory environments for its diagnostic and therapeutic products, including those from agencies like the FDA and international bodies. Delays in obtaining necessary regulatory clearances or the inability to secure them could significantly impede the commercial launch and expansion of its product offerings.
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Biomerica, Inc. (symbol: BMRA) operates in several diagnostic and therapeutic markets. The addressable markets for their main products and services are sized as follows:
- Gastrointestinal Diagnostics: The global gastrointestinal diagnostics market was estimated at approximately USD 5.08 billion in 2024 and is projected to reach USD 6.56 billion by 2030. In the United States, this market generated USD 1,758.4 million in 2024 and is expected to reach USD 2,198.6 million by 2030.
- Food Intolerance Tests: The global market size for food intolerance tests was valued at approximately USD 14.5 billion in 2023 and is projected to reach USD 32.1 billion by 2032. North America held the largest share of this market in 2024.
- Diabetes Diagnostics: The global diabetes diagnostics market was estimated to be valued at USD 34.21 billion in 2025 and is expected to reach USD 58.25 billion by 2032. North America is expected to lead this market, holding a 40.1% share in 2025.
- Esoteric Tests: The global esoteric testing market size was estimated at USD 24.6 billion in 2024 and is projected to reach USD 47.98 billion by 2030. Another source indicates a global market size of USD 29.56 billion in 2025, projected to grow to USD 75.89 billion by 2034. North America accounted for the largest share of the global esoteric testing market in 2024. The U.S. esoteric testing market generated USD 6,228.5 million in 2024 and is expected to reach USD 11,645.3 million by 2030.
- Irritable Bowel Syndrome (IBS) Therapy (InFoods): The global irritable bowel syndrome treatment market size was estimated at USD 3.64 billion in 2024 and is projected to reach USD 6.02 billion by 2030. North America dominated the global IBS treatment market, accounting for a 37.5% revenue share in 2024. The U.S. Irritable Bowel Syndrome (IBS) Treatment Market is estimated at USD 1.29 billion in 2024 and is projected to reach approximately USD 2.04 billion by 2030.
- Helicobacter pylori (H. pylori) Products: The global Helicobacter pylori diagnostics market size was estimated at USD 698.44 million in 2024 and is projected to reach USD 966.19 million by 2030. North America held the largest share of the global Helicobacter pylori diagnostics market in 2024, with a 47.97% revenue share.
- COVID-19 Infection Diagnostic Products: The global COVID-19 diagnostics market size was valued at USD 30.02 billion in 2024 and is projected to decline to USD 6.25 billion by 2030. Another report estimates the global market size at USD 58.3 billion in 2024. North America dominated the market with a share of over 33.3% in 2023. The U.S. COVID-19 diagnostics market generated USD 10,047.1 million in 2023 and is expected to reach USD 2,106.0 million by 2030.
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- Advancement and Commercialization of inFoods® IBS Test: Biomerica anticipates significant revenue growth from its inFoods® IBS diagnostic test, driven by enhanced insurance reimbursement pathways, including the receipt of a Proprietary Laboratory Analyses (PLA) code from the American Medical Association and a $300 national Medicare payment rate from the Centers for Medicare & Medicaid Services (CMS), effective January 1, 2026. The direct-to-consumer launch of the inFoods® IBS test with a patient self-collection system is also expected to broaden market access through telehealth and online medical providers.
- Expansion of EZ Detect™ and Other At-Home Tests in the MENA Region: The company is focused on expanding its market presence for EZ Detect™ and other at-home diagnostic tests within the Middle East and North Africa (MENA) region through continued regulatory clearances and the establishment of new distribution partnerships. Efforts to secure insurance reimbursement for these newly cleared products in the region are also underway.
- Increased Sales of H. pylori Antigen Test (hp+detect™) in Key Markets: Biomerica is strategically prioritizing increased sales of its H. pylori antigen test, hp+detect™, in both the U.S. and European markets. This product is expected to contribute to the company's revenue growth as it gains commercial traction.
- Leveraging New Patents for inFoods® Technology in Additional GI Conditions: The securing of three key patents for its inFoods® technology platform opens doors to multi-billion-dollar markets beyond IBS, including other gastrointestinal conditions such as GERD, Crohn's Disease, and Ulcerative Colitis. This expansion into new indications for its diagnostic-guided therapy platform represents a significant future growth driver.
- Strategic Marketing and Distribution Partnerships: Biomerica's collaboration with Henry Schein Inc. for marketing services in the U.S. is expected to drive sales of the inFoods® IBS test. This partnership provides access to over 400 medical field sales representatives targeting primary care and gastroenterology practices, significantly enhancing the test's commercial reach.
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Share Issuance
- A 1-for-8 reverse stock split became effective on April 21, 2025, reducing the number of outstanding shares from approximately 20,366,095 to about 2,545,762 shares to comply with Nasdaq listing requirements.
- In March 2023, Biomerica completed a public offering, selling 3,333,333 shares of common stock at $2.40 per share, generating approximately $7,300,000 in net proceeds.
- The company sold 3,525,359 shares of common stock for gross proceeds of approximately $2,100,000 through a May 2024 At-The-Market (ATM) Offering during the nine months ended February 28, 2025.
Capital Expenditures
- Capital expenditures were reported at $24,000 in the second quarter of fiscal year 2024 (ended November 30, 2023).
- The company is selectively investing in core diagnostic programs, including the commercial launch of inFoods® IBS and hp+detect™, as part of its resource reallocation strategy.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Biomerica Earnings Notes | 12/16/2025 | |
| With Biomerica Stock Sliding, Have You Assessed The Risk? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 201.92 |
| Mkt Cap | 25.8 |
| Rev LTM | 12,852 |
| Op Inc LTM | 1,603 |
| FCF LTM | 1,366 |
| FCF 3Y Avg | 1,109 |
| CFO LTM | 1,858 |
| CFO 3Y Avg | 1,576 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.8% |
| Rev Chg 3Y Avg | 3.3% |
| Rev Chg Q | 5.5% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Inc Chg LTM | 9.2% |
| Op Inc Chg 3Y Avg | 7.1% |
| Op Mgn LTM | 12.6% |
| Op Mgn 3Y Avg | 11.4% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 14.6% |
| CFO/Rev 3Y Avg | 13.4% |
| FCF/Rev LTM | 10.7% |
| FCF/Rev 3Y Avg | 9.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Development, manufacture, marketing, and sale of diagnostic products | 5 | 5 | 5 | 19 | 7 |
| Total | 5 | 5 | 5 | 19 | 7 |
| $ Mil | 2025 | 2024 | 2007 | 2006 | 2005 |
|---|---|---|---|---|---|
| Development, manufacture, marketing, and sale of diagnostic products | -5 | -6 | |||
| Medical Diagnostic Products | 1 | 0 | 0 | ||
| Orthodontic Products | -0 | -0 | |||
| Total | -5 | -6 | 1 | -0 | -0 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| Development, manufacture, marketing, and sale of diagnostic products | -5 | -6 |
| Total | -5 | -6 |
| $ Mil | 2007 | 2006 | 2005 | 2004 | 2003 |
|---|---|---|---|---|---|
| Medical Diagnostic Products | 3 | 2 | 2 | 1 | 2 |
| Orthodontic Products | 4 | 4 | 4 | ||
| Total | 3 | 2 | 6 | 6 | 6 |
Price Behavior
| Market Price | $1.53 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 02/23/2007 | |
| Distance from 52W High | -56.4% | |
| 50 Days | 200 Days | |
| DMA Price | $1.89 | $2.25 |
| DMA Trend | down | down |
| Distance from DMA | -19.0% | -31.9% |
| 3M | 1YR | |
| Volatility | 45.9% | 53.2% |
| Downside Capture | 133.37 | 159.21 |
| Upside Capture | -44.01 | 39.72 |
| Correlation (SPY) | 12.6% | 16.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.06 | 0.14 | 0.37 | 0.67 | 0.67 | 1.01 |
| Up Beta | -0.45 | 0.89 | 0.54 | 0.37 | 0.04 | 0.37 |
| Down Beta | -1.63 | -0.05 | 0.00 | 0.24 | 0.41 | 1.29 |
| Up Capture | -70% | -137% | -44% | 26% | 25% | 53% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 6 | 11 | 21 | 43 | 97 | 318 |
| Down Capture | 180% | 136% | 134% | 140% | 137% | 110% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 15 | 29 | 39 | 71 | 138 | 403 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BMRA | |
|---|---|---|---|---|
| BMRA | -52.8% | 53.2% | -1.22 | - |
| Sector ETF (XLV) | 25.3% | 15.6% | 1.25 | 12.5% |
| Equity (SPY) | 25.2% | 12.9% | 1.47 | 16.3% |
| Gold (GLD) | 21.1% | 28.1% | 0.67 | 5.8% |
| Commodities (DBC) | 28.3% | 19.8% | 1.14 | -4.7% |
| Real Estate (VNQ) | 15.6% | 13.8% | 0.81 | 2.8% |
| Bitcoin (BTCUSD) | -44.2% | 43.0% | -1.23 | 18.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BMRA | |
|---|---|---|---|---|
| BMRA | -44.8% | 98.5% | -0.21 | - |
| Sector ETF (XLV) | 5.9% | 15.0% | 0.21 | 7.4% |
| Equity (SPY) | 13.4% | 17.2% | 0.60 | 14.5% |
| Gold (GLD) | 17.3% | 18.5% | 0.76 | 2.1% |
| Commodities (DBC) | 8.1% | 19.6% | 0.31 | -0.7% |
| Real Estate (VNQ) | 2.4% | 18.9% | 0.02 | 10.3% |
| Bitcoin (BTCUSD) | 10.0% | 53.0% | 0.38 | 9.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BMRA | |
|---|---|---|---|---|
| BMRA | -24.9% | 139.7% | 0.18 | - |
| Sector ETF (XLV) | 9.8% | 16.6% | 0.48 | -0.7% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 1.1% |
| Gold (GLD) | 11.6% | 16.1% | 0.58 | -1.8% |
| Commodities (DBC) | 7.0% | 18.0% | 0.31 | -2.0% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | -6.3% |
| Bitcoin (BTCUSD) | 58.0% | 66.2% | 0.98 | 4.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/4/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 12/16/2021 | -1.5% | 7.6% | 8.1% |
| SUMMARY STATS | |||
| # Positive | 0 | 1 | 1 |
| # Negative | 1 | 0 | 0 |
| Median Positive | 7.6% | 8.1% | |
| Median Negative | -1.5% | ||
| Max Positive | 7.6% | 8.1% | |
| Max Negative | -1.5% | ||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 12/16/2021 | -1.5% | 7.6% | 8.1% |
| SUMMARY STATS | |||
| # Positive | 0 | 1 | 1 |
| # Negative | 1 | 0 | 0 |
| Median Positive | 7.6% | 8.1% | |
| Median Negative | -1.5% | ||
| Max Positive | 7.6% | 8.1% | |
| Max Negative | -1.5% | ||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 02/28/2026 | 04/13/2026 | 10-Q |
| 11/30/2025 | 01/14/2026 | 10-Q |
| 08/31/2025 | 10/14/2025 | 10-Q |
| 05/31/2025 | 08/29/2025 | 10-K |
| 02/28/2025 | 04/14/2025 | 10-Q |
| 11/30/2024 | 01/14/2025 | 10-Q |
| 08/31/2024 | 10/15/2024 | 10-Q |
| 05/31/2024 | 08/28/2024 | 10-K |
| 02/29/2024 | 04/12/2024 | 10-Q |
| 11/30/2023 | 01/16/2024 | 10-Q |
| 08/31/2023 | 10/12/2023 | 10-Q |
| 05/31/2023 | 08/25/2023 | 10-K |
| 02/28/2023 | 04/14/2023 | 10-Q |
| 11/30/2022 | 01/13/2023 | 10-Q |
| 08/31/2022 | 10/13/2022 | 10-Q |
| 05/31/2022 | 08/29/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 02/28/2026 | 04/13/2026 | 10-Q |
| 11/30/2025 | 01/14/2026 | 10-Q |
| 08/31/2025 | 10/14/2025 | 10-Q |
| 05/31/2025 | 08/29/2025 | 10-K |
| 02/28/2025 | 04/14/2025 | 10-Q |
| 11/30/2024 | 01/14/2025 | 10-Q |
| 08/31/2024 | 10/15/2024 | 10-Q |
| 05/31/2024 | 08/28/2024 | 10-K |
| 02/29/2024 | 04/12/2024 | 10-Q |
| 11/30/2023 | 01/16/2024 | 10-Q |
| 08/31/2023 | 10/12/2023 | 10-Q |
| 05/31/2023 | 08/25/2023 | 10-K |
| 02/28/2023 | 04/14/2023 | 10-Q |
| 11/30/2022 | 01/13/2023 | 10-Q |
| 08/31/2022 | 10/13/2022 | 10-Q |
| 05/31/2022 | 08/29/2022 | 10-K |
| 02/28/2022 | 04/14/2022 | 10-Q |
| 11/30/2021 | 01/12/2022 | 10-Q |
| 08/31/2021 | 10/14/2021 | 10-Q |
| 05/31/2021 | 08/27/2021 | 10-K |
| 02/28/2021 | 04/14/2021 | 10-Q |
| 11/30/2020 | 01/14/2021 | 10-Q |
| 08/31/2020 | 10/15/2020 | 10-Q |
| 05/31/2020 | 08/31/2020 | 10-K |
| 02/29/2020 | 04/14/2020 | 10-Q |
| 11/30/2019 | 01/14/2020 | 10-Q |
| 08/31/2019 | 10/15/2019 | 10-Q |
| 05/31/2019 | 08/29/2019 | 10-K |
Biomerica — Investor Video Playlist
Industry Resources
| Health Care Resources |
| U.S. National Library of Medicine |
| ClinicalTrials.gov |
| Modern Healthcare |
| Healthcare Dive |
| Fierce Healthcare |
| Health Affairs |
| Health Data Management |
| FDA Tracker |
| Life Sciences Tools & Services Resources |
| GenomeWeb |
| BioSpace |
| The Scientist |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.