Revenue growth remains highly inconsistent, with quarterly fluctuations ranging from a 73.8% increase in 2024Q4 to significant contractions, while operating margins remain deeply negative at -23.8% for the same period.
| Sales/Revenue | 893.99K | 895.48K | 529.88K | 577.35K | 493.56K | 281.39K |
| Revenue Growth % | -0.17% | 69% | -8.22% | 16.98% | 75.4% | - |
| Cost of Goods Sold | 319.11K | 385.82K | 347.73K | 399.73K | 370.48K | 342.66K |
| COGS % of Revenue | 35.69% | 43.09% | 65.62% | 69.23% | 75.06% | 121.77% |
| Gross Profit | 574.88K | 509.66K | 182.15K | 177.62K | 123.08K | -61.27K |
| Gross Margin % | 64.31% | 56.91% | 34.38% | 30.77% | 24.94% | -21.77% |
| Gross Profit Growth % | 12.8% | 179.8% | 2.55% | 44.31% | 300.89% | - |
| Operating Expenses | 19.27M | 27.15M | 26.36M | 9.56M | 796.8K | 690.21K |
| OpEx % of Revenue | 2155.54% | 3032.38% | 4974.16% | 1655.31% | 161.44% | 245.28% |
| Selling, General & Admin | 12.77M | 17.22M | 22.81M | 9.41M | 458.37K | 570.25K |
| SG&A % of Revenue | 1428.98% | 1923.17% | 4304.86% | 1630.05% | 92.87% | 202.65% |
| Research & Development | 5.84M | 9.59M | 3.66M | 466.69K | 311.85K | 250.32K |
| R&D % of Revenue | 653.14% | 1070.98% | 690.82% | 80.83% | 63.18% | 88.96% |
| Other Operating Expenses | 656.34K | 342.4K | -114.05K | -320.89K | 26.57K | -130.35K |
| Operating Income | -18.7M | -26.64M | -26.44M | -9.72M | -766.09K | -921.91K |
| Operating Margin % | -2091.23% | -2975.47% | -4990.6% | -1684.36% | -155.22% | -327.62% |
| Operating Income Growth % | 29.83% | -0.76% | -171.93% | -1169.38% | 16.9% | - |
| EBITDA | -17.68M | -25.61M | -25.98M | -9.65M | -613.25K | -868.87K |
| EBITDA Margin % | -1977.47% | -2859.94% | -4903.9% | -1672.25% | -124.25% | -308.77% |
| EBITDA Growth % | 30.97% | 1.44% | -169.14% | -1474.34% | 29.42% | - |
| D&A (Non-Cash Add-back) | 1.02M | 1.03M | 459.43K | 69.93K | 152.84K | 53.04K |
| EBIT | -20.58M | -26.05M | -26.1M | -11.35M | -410.48K | -755.12K |
| Net Interest Income | -1.08M | -809.58K | -289.32K | -339.17K | -268.79K | -201.94K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 1.08M | 809.58K | 289.32K | 339.17K | 268.79K | 201.94K |
| Other Income/Expense | -2.96M | 348.95K | 56.7K | -1.97M | 86.82K | -35.15K |
| Pretax Income | -21.65M | -26.3M | -26.39M | -11.7M | -586.89K | -957.05K |
| Pretax Margin % | -2421.8% | -2936.5% | -4979.9% | -2025.67% | -118.91% | -340.11% |
| Income Tax | 0 | 0 | 0 | 377.12K | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | -3.22% | 0% | 0% |
| Net Income | -21.65M | -26.3M | -26.45M | -11.69M | -586.89K | -957.05K |
| Net Margin % | -2421.8% | -2936.5% | -4992.24% | -2024.79% | -118.91% | -340.11% |
| Net Income Growth % | 17.66% | 0.59% | -126.28% | -1891.86% | 38.68% | - |
| Net Income (Continuing) | -21.65M | -26.3M | -26.39M | -11.69M | -586.89K | -957.05K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -22.36 | -1.62 | -1.87 | -1.67 | -0.05 | -0.10 |
| EPS Growth % | -1280.25% | 13.37% | -11.98% | -3233.33% | 49.9% | - |
| EPS (Basic) | -22.36 | -1.62 | -1.87 | -1.67 | -0.05 | -0.10 |
| Diluted Shares Outstanding | 968.23K | 16.24M | 14.16M | 7.21M | 5.61M | 11.71M |
| Basic Shares Outstanding | 968.23K | 16.24M | 14.16M | 7.21M | 5.61M | 11.71M |
| Dividend Payout Ratio | - | - | - | - | - | - |
Capital exhaustion and dilution
As reported in recent financial filings, Mainz Biomed's revenue trajectory remains highly erratic, with quarterly growth rates swinging from a 73.8% increase in 2024Q4 to significant contractions in prior periods, underscoring the company's struggle to establish a predictable, scalable commercial footprint in the competitive diagnostic market.
The lack of sustained revenue momentum suggests that the company's decentralized laboratory partnership model has yet to achieve critical mass. Investors should monitor whether the recent uptick in revenue represents a durable shift in adoption or merely the lumpy, project-based nature of initial kit placements.
Based on historical income statements, Mainz Biomed's gross margins have fluctuated wildly between 13.3% and 84.5%, indicating that the company lacks the operational maturity to maintain consistent pricing power or cost control as it navigates the early stages of its European commercial launch.
The significant variance in gross margins suggests that the company is highly sensitive to production volumes and potential discounting required to incentivize laboratory partners. This instability complicates the forecasting of long-term profitability and highlights the risks inherent in a low-volume diagnostic manufacturing model.
According to the company's income statement data, R&D and SG&A expenditures consistently dwarf total revenue, with 2024Q4 operating expenses reaching $8.5 million against only $373,200 in revenue, illustrating a cost structure that is currently untethered from the firm's actual commercial output.
The heavy reliance on clinical trial funding and administrative overhead suggests that management is prioritizing long-term regulatory milestones over immediate operational efficiency. This aggressive spending profile warrants further investigation into the company's ability to sustain such high burn rates without further dilutive financing.
As evidenced by the persistent net losses and significant stock-based compensation figures, such as the $1.0 million recorded in 2024Q2, the quality of earnings is severely compromised by the company's ongoing reliance on equity-based incentives to preserve cash during its pre-profitability phase.
The disconnect between net income and cash preservation suggests that shareholders are bearing the brunt of the company's operational deficits through continuous dilution. Analysts should interpret these figures as a clear signal that the firm's current business model is not yet self-sustaining.
While management promotes the decentralized laboratory model as a competitive advantage, the income statement reveals that this strategy has failed to generate meaningful operating leverage, with operating margins remaining deeply negative at -2091.23% in recent periods, suggesting the model may be fundamentally inefficient.
Short-sellers would likely focus on the inability of the company to convert its lab partnerships into a profitable revenue stream, pointing to the high cost of supporting decentralized infrastructure. The persistent negative margins indicate that the company may be underestimating the logistical and support costs required to maintain its diagnostic platform.
Quick answers to the most common questions about buying MYNZ stock.
For fiscal year 2024, Mainz Biomed B.V. (MYNZ) reported total revenue of $0.9M. This represents a 217.7% increase compared to $0.3M in 2019.
Mainz Biomed B.V. (MYNZ) reported a net loss of $21.7M for the fiscal year ending 2024.
Mainz Biomed B.V. (MYNZ) reported an operating income of $-18.7M, resulting in an operating profit margin of -2091.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Mainz Biomed B.V. (MYNZ) generated $0.6M in gross profit for the year, representing a gross profit margin of 64.3%. This demonstrates the company's core pricing power and production efficiency.