$SCND

SCIENTIFIC INDUSTRIES INC

CIK:0000087802|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED)
Revenues	$ 1,470,400	$ 1,081,000	$ 2,697,500	$ 2,023,300
Cost of revenues	847,700	704,300	1,604,900	1,302,300
Gross profit	622,700	376,700	1,092,600	721,000
Operating expenses:
General and administrative	553,900	744,800	1,300,900	1,774,000
Selling	647,100	774,300	1,334,200	1,528,100
Research and development	694,500	677,100	1,398,100	1,329,100
Total operating expenses	1,895,500	2,196,200	4,033,200	4,631,200
Loss from operations	(1,272,800)	(1,819,500)	(2,940,600)	(3,910,200)
Other income:
Other income (expense), net	(1,400)	8,000	25,700	20,400
Interest income	40,400	14,700	91,800	34,900
Total other income, net	39,000	22,700	117,500	55,300
Loss from operations before income tax expense	(1,233,800)	(1,796,800)	(2,823,100)	(3,854,900)
Income tax expense	0	0	0	0
Loss from continuing operations	(1,233,800)	(1,796,800)	(2,823,100)	(3,854,900)
Discontinued Operations:
Income from discontinued operations, net of tax	0	273,100	0	552,700
Net loss	(1,233,800)	(1,523,700)	(2,823,100)	(3,302,200)
Comprehensive gain (loss):
Foreign currency translation gain (loss)	30,100	155,200	(44,400)	279,600
Comprehensive gain (loss)	30,100	155,200	(44,400)	279,600
Total comprehensive loss	$ (1,203,700)	$ (1,368,500)	$ (2,867,500)	$ (3,022,600)
Basic and Diluted income (loss) per common share:
Continuing operations	$ (0.10)	$ (0.16)	$ (0.24)	$ (0.35)
Discontinued operations	0	0.03	0	0.05
Consolidated operations	$ (0.10)	$ (0.13)	$ (0.24)	$ (0.30)
Weighted Average Shares Outstanding	11,928,599	11,345,907	11,928,599	10,867,040

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net loss	$ (2,823,100)	$ (3,302,200)
Less: Income from discontinued operations, net of tax	0	552,700
Loss from continuing operations	(2,823,100)	(3,854,900)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	106,100	321,000
Stock-based compensation	278,800	375,200
Gain on sale of investment securities	0	(20,100)
Unrealized holding loss (gain) on investment securities	18,100	(8,600)
Noncash lease expense	168,000	101,600
Changes in operating assets and liabilities:
Trade accounts receivable	348,700	159,500
Inventories	(192,300)	(83,100)
Prepaid and other current assets	173,300	(171,000)
Other assets	0	4,300
Accounts payable	76,800	59,200
Accrued expenses	94,200	18,800
Contract liabilities	29,800	0
Lease liabilities	(176,000)	(106,400)
Net cash used in operating activities	(1,897,600)	(3,204,500)
Investing activities:
Purchases of investment securities	(115,900)	0
Redemption of investment securities	1,871,000	1,613,900
Capital expenditures	(14,500)	(33,200)
Net cash provided by investing activities	1,740,600	1,580,700
Financing activities:
Proceeds from issuance of common stock	0	1,452,200
Net cash provided by financing activities	0	1,452,200
Discontinued Operations:
Net cash provided by discontinued operations	(154,300)	441,600
Net change in cash and cash equivalents	(311,300)	270,000
Effect of changes in foreign currency exchange rates on cash and cash equivalents	(27,200)	33,500
Net decrease in cash and cash equivalents	(338,500)	303,500
Cash and cash equivalents, beginning of period	955,000	587,900
Cash and cash equivalents, end of period	616,500	891,400
Noncash financing activities
Record right-of-use assets	18,400	0
Record lease liabilities	$ 18,400	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 616,500	$ 955,000
Investment securities	3,932,000	5,705,000
Trade accounts receivable, less allowance for doubtful accounts of $8,300 at June 30, 2026 and December 31, 2025	517,100	865,800
Inventories	1,555,500	1,401,300
Income tax receivable	73,600	73,600
Prepaid expenses and other current assets	941,900	1,115,300
Current assets of discontinued operations	490,400	272,900
Total current assets	8,127,000	10,388,900
Property and equipment, net	604,400	690,900
Goodwill	115,300	115,300
Other intangible assets, net	81,000	103,500
Inventories	384,800	346,700
Operating lease right-of-use assets	756,000	924,000
Other assets	38,400	38,300
Total assets	10,106,900	12,607,600
Current liabilities:
Accounts payable	525,900	449,100
Accrued expenses	510,900	416,700
Contract liabilities	129,600	99,800
Lease liabilities, current portion	360,300	371,400
Current liabilities of discontinued operations	75,500	12,300
Total current liabilities	1,602,200	1,349,300
Lease liabilities, less current portion	430,400	595,300
Total liabilities	2,032,600	1,944,600
Shareholders' equity:
Common stock, $0.05 par value; 30,000,000 shares authorized; 11,928,599 shares issued and outstanding at June 30, 2026 and December 31, 2025	596,400	596,400
Additional paid-in capital	45,318,300	45,039,500
Accumulated other comprehensive income	133,600	178,000
Accumulated deficit	(37,974,000)	(35,150,900)
Total shareholders' equity	8,074,300	10,663,000
Total liabilities and shareholders' equity	$ 10,106,900	$ 12,607,600