BIOMERICA INC (BMRA) Form 10-K — Aug 31, 2026
Biomerica's fiscal 2026 10-K carries an explicit going-concern warning: management states existing cash of $1.31 million is insufficient to fund operations for the next twelve months against roughly $3.42 million of annual operating cash burn, and the auditor's report includes a substantial-doubt explanatory paragraph. Fiscal 2026 net sales fell 16% to approximately $4.45 million from $5.31 million, driven by lower clinical lab, contract manufacturing, and over-the-counter sales, while SG&A rose 6% to $4.89 million and R&D was cut 23% to $788,000; the accumulated deficit reached $56.9 million and equity shrank to $2.6 million.
Key figures
- Revenue
- 4453000
- Total Debt
- 500000
- Revenue Yoy
- -16%
- Total Assets
- 6759000
- Cash Position
- 1308000
- Shares Outstanding
- 4588968
- Rnd Expense
- 788000
- Sga Expense
- 4894000
- Atm Price Range
- $2.20 to $4.02
- Atm Shares Sold
- 580452
- Working Capital
- 1535000
- Erc Credit Income
- 1100000
- Prior Year Net Loss
- 4973000
- Nasdaq Mvls Minimum
- 5000000
- Accumulated Deficit
- 56943000
- Msa Initial Target Fee
- over $1,750,000 (19-25 month CDMO engagement)
- Atm Net Proceeds FY2026
- 1827000
- Secured Promissory Note
- 500000
- Private Placement Shares
- 1393705
- Remaining Shelf Capacity
- $2,123,163 under General Instruction I.B.6 limit
- Cost Of Sales Pct Of Revenue
- 92% (FY2026) vs 91% (FY2025)
- Federal NOLCarryforwards
- 32381000
- Authorized Shares Increase
- 25,000,000 to 300,000,000 (effective June 10, 2026)
- Public Float Non Affiliates
- approximately $6.6 million as of November 28, 2025 ($2.37/share)
- California NOLCarryforwards
- 30381000
- Promissory Note Interest Rate
- 8% per annum, 12-month maturity from May 29, 2026
- Medicare Payment Rate In Foods IBS
- $300 effective January 1, 2026
- Private Placement Gross Proceeds
- 2230000
- Private Placement Price Per Share
- 1.6
- Largest Distributor Concentration
- 31% of net sales in both FY2026 and FY2025
- Net Cash Used In Operating Activities
- 3421000
- Unrealized Holding Gain Diagnosis SA
- 335000
Price after filing
Close on the filing date to close N calendar days later (from $2.14). Historical, not a forecast.
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