Microbix Reports Results for Q3 Fiscal 2026

Q3 Revenues of $4.1 million and Controlled Net Loss

MISSISSAUGA, ON / ACCESS Newswire / August 13, 2026 / Microbix Biosystems Inc. (TSX:MBX)(OTCQX:MBXBF, Microbi^x®), a life sciences innovator, manufacturer, and exporter, reports results for its third quarter and nine months of fiscal 2026 ended June 30, 2026 ("Q3" and "YTD"). Results for Q3 and YTD continue to demonstrate the results of the Company's continuing work to rebuild revenues back to profitability following two client setbacks in mid-2025, with revenue growth of 17% in Q3 compared to Q3 fiscal 2025.

Management Discussion

Microbix is prepared for material sales growth following additions to its capabilities and capacity. It is now at work on adding new client programs and clients to counter setbacks with two large clients in 2025. Progress with business development will be announced when secured. Microbix anticipates full-year fiscal 2026 results in-line with the forward-looking information (FLI) disclosed in its current Management Discussion and Analysis (MD&A), towards rebuilding sales above its earnings breakeven point.

Quarter ending June 30, 2026 ("Q3")

Q3 revenue was $4,059,303, a 17% increase from Q3 2025 revenues of $3,472,182. Included were antigen revenues of $2,190,812 (2025 - $1,832,134), which were up 20% from last year. This increase was predominantly due to sales to a key customer that increased by over 40% in Q3 year-over-year. QAPs revenues of $1,719,734 were up 13% from Q3 2025 (2025 - $1,516,344), primarily due to sales of PTDx category products increasing as a result of the addition of new customers. Revenue from royalties were $148,757 (2025 - $ 123,704). In summary, our Q3 sales continue to show the results of additions to our product offerings and customer base.

Q3 gross margin percentage was 54%, up from 41% in 2025, due to increased antigen and QAPs sales covering more of our predominantly fixed manufacturing overhead costs and lower manufacturing-related operating expenses.

Operating expenses (including finance expenses) in Q3 were down 2% compared to Q3 2025. Favourable foreign exchange gains more than offset higher selling costs due to timing of trade show activities and increased net financing costs versus prior year, due to lower interest income as a result of lower interest rates on decreased short-term investments.

Overall, stronger Q3 revenues and improved margins led to an operating loss and net loss of $806,762 a significant improvement over Q3 2025 operating loss and net loss of $1,642,776. Cash used in operating activities was $466,815, compared to cash used in operating activities of $1,923,694 in 2025. Much of the improvement of cash used in operating activities during the quarter versus prior year is due to significantly reduced operating losses and the improvement in our accounts receivable collections versus Q3 2025.

Nine Months ending June 30, 2026 ("YTD")

YTD revenue was $11,655,920, a 21% decrease from YTD 2025 revenues of $14,841,048. Included in YTD 2026 were antigen revenues of $6,949,721 (2025 - $10,416,424), down 33% from last year. This decrease was predominantly due to a decrease in sales to our distributor in China of over $4 million. Excluding this distributor, antigen sales increased by 8% for YTD 2026 versus YTD 2025. QAPs revenues of $4,216,602 were up 5% versus YTD 2025 (2025 - $4,007,645) influenced by the growth of our sales of QAPs to laboratory end-users outside of our established lab QMS testing (PT/EQA) segment, which were up by 26% for YTD 2026 versus YTD 2025. Revenue from royalties were $489,597 (2025 - $416,979). In summary, while YTD 2026 revenues were greatly impacted by the decrease in antigen sales to China, we did see growth in our antigen and QAPs businesses.

YTD gross margin was 48%, down from 56% in YTD 2025, primarily due to decreased product sales in China which resulted in fixed manufacturing costs needing to be absorbed across fewer units of production.

YTD operating expenses decreased by 2% versus YTD 2025, as increased net financing costs versus prior year, due to lower interest income as a result of lower interest rates on decreased short-term investments were offset by lower selling costs and favourable foreign exchange gains.

Overall, weaker YTD revenues and decreased margins led to an operating loss and net loss of $3,404,276 versus YTD 2025 operating loss and net loss of $765,150. Cash used in operating activities was $3,376,990, compared to cash used in operating activities of $164,240 in YTD 2025.

At the end of this quarter, Microbix's current ratio (current assets divided by current liabilities) was 6.89 and its debt-to-equity ratio (total debt over shareholders' equity) was 0.40.

Corporate Outlook

Microbix is aggressively pursuing new client programs and new clients, while continuing to add to its portfolio of products and services, and its capabilities. It thereby intends to continue driving sales growth across all of its business lines, while also improving percentage gross margins and working to deliver bottom-line results. Microbix's goal is to create meaningful and sustained shareholder value within both its diagnostics-oriented business and its fully-funded Kinlytic® urokinase "thrombolytic" drug program.

Furthermore, at 10:00 AM ET on Thursday August 13^th, 2026 Microbix intends to hold a webinar discussion of Q3 2026 results with its CEO, CFO, and COO.

Investors and shareholders can participate in the webinar, hosted by Adelaide Capital, by registering at: https://us02web.zoom.us/webinar/register/WN_D5IwAcS3TdeAfMjZ9peU0A. It will also be live-streamed to YouTube at: https://www.youtube.com/channel/UC7Jpt_DWjF1qSCzfKlpLMWw.

A replay of the webinar will also be made available on Adelaide Capital's YouTube channel.

About Microbix Biosystems Inc.

Microbix Biosystems Inc. creates proprietary biological products for human health, with over 120 skilled employees and revenues of C$ 18.6 million in its latest fiscal year (2025). It makes a wide range of critical ingredients and devices for the global diagnostics industry, notably antigens for immunoassays (antibody tests) and its laboratory quality assessment products (QAPs™) and reference materials (QUANTDx™) that support clinical lab proficiency testing, enable assay development and validation, or help ensure the quality of clinical diagnostic workflows. Its antigens drive the immunoassays of approximately 100 diagnostics makers, while QAPs or QUANTDx are sold to clinical lab accreditation organizations, diagnostics companies, and clinical labs. Microbix QAPs are now available in over 30 countries, supported by international distributors. Microbix is ISO 9001 & 13485 certified, U.S. FDA registered, Australian TGA registered, Health Canada licensed, and provides IVDR-compliant CE marked products.

Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably Kinlytic® urokinase, a biologic thrombolytic drug used to resolve blood clots, and reagents or medial to support diagnostic testing (e.g., its DxTM™ for patient-sample collection). Microbix is traded on the TSX and OTCQX, and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes "forward-looking information," as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of Microbix's business and business results, goals or outlook, risks associated with financial results and stability, development projects such as those referenced in its corporate presentation, regulatory compliance and approvals, access to and sales to foreign jurisdictions, engineering and construction, production (including control over costs, quality, quantity and timeliness of delivery), foreign currency and exchange rates, maintaining adequate working capital and raising further capital on acceptable terms or at all, and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and represent the Company's judgement as of the date of this new release, and the Company is under no obligation to update or alter any forward-looking information except as required by applicable law.

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Copyright^© 2026 Microbix Biosystems Inc.

Microbix®, DxTM™, Kinlytic®, , QAPs™, and QUANTDx™, are trademarks of Microbix Biosystems Inc.

SOURCE: Microbix Biosystems Inc.