Tue, Nov 12, 4:23 PM (128 days ago)
International Isotopes Inc. (INIS) reported its Q3 2024 results, showing a revenue increase of 34% to $3,924,444 compared to Q3 2023, driven primarily by growth in its Theranostics and Cobalt Products segments. The company achieved a gross profit of $2,449,428, up 37%, with gross margins improving to 62%. However, operating expenses rose 8% to $2,269,823, largely due to increased general and administrative costs related to the Medical Device segment and one-time waste disposal expenses. Net income for the quarter was $150,251, a significant recovery from a loss of $348,605 in the prior year. For the nine months ended September 30, 2024, revenue reached $9,998,135, a 10% increase, with a net loss of $237,245, improved from $759,961 in 2023. Cash and equivalents decreased to $2,372,983, while cash provided by operations was $568,215. The company is focused on strategic growth in its core segments while managing challenges such as supply shortages in Cobalt-57. Future operations may be impacted by ongoing financing needs and regulatory approvals related to asset sales and new projects.