Integrated BioPharma, Inc. Announces Q3 2024 Financial Results

Integrated BioPharma, Inc. has released its financial results for the quarter ending September 30, 2024. The company reported a revenue increase to $13.6 million from $12.9 million the previous year, marking a 5.4% growth. Operating income for this quarter was $0.5 million, a significant improvement from an operating loss of $54,000 recorded in the same period last year.

The company also reported a net income of $0.3 million, or $0.01 per share, compared to a net loss of $59,000 in the same quarter of 2023. The Co-CEOs, Riva Sheppard and Christina Kay, pointed to efforts in diversifying the customer base as a contributing factor, noting a decrease in revenue concentration from their top customers from 91% to 85%.