Integrated BioPharma

Integrated BioPharma (INBP) reported its Q3 2025 financial results, revealing a 6.6% revenue decrease to $12.7 million compared to Q3 2024. Gross profit, operating income, and net income also declined. A significant concern is the high customer concentration, with the top two clients accounting for approximately 87% of revenue, up from 85% in the prior year. Despite decreased revenue and profits, INBP still maintained a net income of $0.12 million, or $0.00 diluted per share.