Company: BGLC
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003821
Chunk: 65

Company: BioNexus Gene Lab Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 65
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)  (415,629)                 (LOSS)/PROFIT FROM OPERATIONS  (70,228)  (333,388)  (41,248)  111,642                  FINANCE COSTS  (3,364)  (1,502)  (1,950)  (2,687)                 (LOSS)/PROFIT BEFORE TAX  (73,592)  (334,890)  (43,198)  108,955                  Tax expense  -   -   -   (20,068)                 NET (LOSS)/PROFIT ATTRIBUTABLE TO COMMON SHAREHOLDERS  $(73,592) $(334,890) $(43,198) $88,887 

 33Table of Contents

Revenue. For the quarter ended March 31, 2025, we had total revenue of $2,137,075 as compared to total revenue of $2,381,851 for the quarter ended March 31, 2024, a decrease of 10.3% from the prior quarter.

Chemrex contributed $2,134,007 (99.9%) of the total revenue for the current quarter ended March 31, 2025 as compared to $2,378,686 (99.9%) of the total revenue for the quarter ended March 31, 2024. Chemrex’s revenues had the decrease of 10.29% from prior quarter. The decline in revenue during the first quarter of 2025 was primarily due to a slowdown in market demand, as well as disruptions related to the implementation of Malaysian government mandated e-Invoicing requirements, which affected certain customers' purchasing activity.

MRNA Scientific contributed $3,068 (0.1%) of the total revenue for the quarter ended March 31, 2025 as compared to revenue of $3,165 (0.1%) of the total revenue from the quarter ended March 31, 2024. These results reflects a slight revenue decline of approximately 3.1%. The decrease was primarily due to fewer client referrals from diagnostic centers and the continued unavailability of a key RNA machine, which has been under repair since last year. The equipment breakdown has not only affected MRNA operations but also impacted general BGS sales, limiting testing capacity and service availability. The repair process remains ongoing, but