Integrated BioPharma Announces Results for Quarter Ended September 30, 2025

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11/10/2025 – 03:50 PM

Integrated BioPharma, Inc. (OTCQX:INBP) (the “Company” or “INBP”) today announced its financial results for the quarter ended September 30, 2025.

The company’s Co-Chief Executive Officers, Riva Sheppard and Christina Kay, acknowledged the approximate 7% decrease in revenue compared to the corresponding quarter in 2024. They also noted the concentration of revenue from the two largest Contract Manufacturing Segment customers, representing approximately 87% and 85% of total revenue in the quarters ended September 30, 2025 and 2024, respectively.

Revenue for the quarters ended September 30, 2025 was $12.7 million compared to $13.6 million for the quarter ended September 30, 2024, a decrease of $0.9 million or approximately 6.6%. The Company had operating income for the quarter ended September 30, 2025 and 2024 of approximately $0.2 million and $0.5 million, respectively.
For the quarters ended September 30, 2025 and 2024, the Company had net income of approximately $0.1 million and $0.3 million or $0.00 and $0.01 per share of common stock, respectively. The Company’s diluted net income per share of common stock for the quarters ended September 30, 2025 and 2024 were $0.00 and $0.01 per share of common stock, respectively.

The figures reveal a worrying trend for Integrated BioPharma. Aside from the decline in topline revenue, the compressed operating profit margin indicates either increased operational costs, pricing pressure, or a shift in the product mix towards lower-margin offerings. The substantial reliance on just two key clients intensifies risk, creating a scenario where INBP’s fate is significantly tied to the success and continued business of these customers. Contract renegotiations, insourcing initiatives by the clients, or a shift in their strategic focus could cause a revenue shortfall that INBP may struggle to offset quickly.

From a technological perspective, investors should consider whether INBP is investing adequately in research and development to diversify its product portfolio and reduce customer concentration. The pharmaceutical and nutraceutical landscape is dynamic, requiring constant innovation to stay competitive. A lack of investment in new technologies, such as advanced drug delivery systems or personalized nutrition solutions, could further erode INBP’s market position. Likewise, a comprehensive strategy for expanding its customer base, potentially through targeted marketing campaigns or strategic partnerships, appears critical to mitigating the risks associated with customer concentration.

A summary of our financial results for the three months ended September 30, 2025 and 2024 follows:

INTEGRATED BIOPHARMA, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share amounts)
(unaudited)

About Integrated BioPharma Inc. (INBP)

Integrated BioPharma, Inc. (“INBP”) is engaged primarily in the business of manufacturing, distributing, marketing and sales of vitamins, nutritional supplements and herbal products. Further information is available at ir.ibiopharma.com.

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, as well as assumptions, that, if they never materialize or prove incorrect, could cause the results of INBP to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements generally are identified by the words “expects,” “anticipates,” believes,” intends,” “estimates,” “should,” “would,” “strategy,” “plan” and similar expressions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements and are not guarantees of future performance. Such statements speak only as of the date hereof, are subject to change and should not be relied upon for investment purposes. INBP undertakes no obligation to revise or update any statements for any reasons. The risks, uncertainties and assumptions include, among others, changes in general economic and business conditions; loss of market share through competition; introduction of competing products by other companies; the timing of regulatory approval and the introduction of new products by INBP; changes in industry capacity; pressure on prices from competition or from purchasers of INBP’s products; regulatory changes in the pharmaceutical manufacturing industry and nutraceutical industry; regulatory obstacles to the introduction of new technologies or products that are important to INBP; availability of qualified personnel; the loss of any significant customers or suppliers; inflation, including inflationary pressures from any tariffs, and tightened labor markets; our ability to expand our customer base and other risks and uncertainties described in the section entitled “Risk Factors” in INBP’s most recent Annual Report on Form 10-K and its subsequent Quarterly Reports on Form 10-Q. Accordingly, INBP cannot give assurance that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of INBP.

SOURCE: Integrated BioPharma, Inc.