Company: BGLC
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003821
Chunk: 66

Company: BioNexus Gene Lab Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 66
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 the machine is expected to return to operation by the second quarter of 2025, which should help restore service levels and support revenue recovery.

Cost of Revenue. For the quarter ended March 31, 2025, we incurred $1,793,582 in cost of revenue, as compared to $2,016,820 for the quarter ended March 31, 2024, a decrease of 11.1% was due to reason as stated below.

Chemrex had incurred $1,792,176 (99.9%) of the total cost of revenue during the current quarter period ended March 31, 2025 as compared to the quarter ended March 31, 2024 wherein Chemrex had incurred $2,014,568 (99.9%) of the total cost of revenue. The decrease in Chemrex’s cost of revenues of 11.04% for the current period was due to decreased revenues for the current period.

MRNA Scientific had incurred $1,406 (0.1%) of the total cost of revenue during the current quarter period ended March 31, 2025 as compared to $2,252 (0.1%) for the quarterly period ended March 31, 2024. Cost of revenue had decreased by 37.6% from prior quarter due to decreased revenues for the current period.

Gross Profit. For the quarterly period ended March 31, 2025, we had total gross profit of $343,493 as compared to gross profit of $365,031 for the quarterly period ended March 31, 2024, a decrease of approximately 5.9% from the prior period.

Chemrex contributed $341,831 (99.5%) of the total gross profit for the current quarter ended March 31, 2025 as compared to $364,118 (99.7%) of the total gross profit for the quarter ended March 31, 2024. Chemrex’s gross profit decreased by $22,287 from the prior quarter, an approximately 6.12% decrease. The gross profit decrease for Chemrex in current quarter was due to its decreased revenues for the period.

MRNA Scientific contributed $1,662 (0.5%) of the total gross profit of $343,493 for the current quarter ended March 31, 2025 as compared to gross profit of $913 (0.3%) of the total gross profit from the quarter ended March 31, 2024. The increase during the current period