Nanalysis Reports Fourth Quarter and Full Year 2022 Results – Nanalysis Scientif… – Press Release

CALGARY, AB, April 27, 2023 /PRNewswire/ – Nanalysis Scientific Corp. ((“, the Company”, , NSCI, NSCIF FRA: 1N1)), a leader in portable NMR machines and MRI technology for industrial and research applications, releases its fourth quarter and full year results ending December 31, 2022. Chief Executive Officer, Sean Krakiwsky and Chief Financial Officer, Randall McRae will host a conference call at 5 P.M. Eastern Time today to discuss the results. A second call will be held for European investors at 8:30am ET on Friday, April 28th. All interested parties are invited to join these calls. 

“This past year was pivotal for Nanalysis on our path to becoming a fully vertically integrated scientific instrumentation company,” said Sean Krakiwsky, Founder and CEO of Nanalysis.  “Our core benchtop NMR business continues to grow as we continue to improve and innovate our products.  We have added to our product offerings with High Field NMR in collaboration with Quad Systems AG and with the acquisition of K’Prime Technologies we added a sales and service organization that led us to win the $160 million Canadian Air Transportation Security Authority (“CATSA”) project.  The CATSA project itself enables us to leapfrog ahead with a revenue generating service organization as we roll into the five-year contract and potentially longer.  And finally, we continue to see the MRI portion of our business progress with two million dollar plus wins in 2022.” 

Financial highlights for the twelve months ended December 31, 2022:

  • The Company reported consolidated revenue of $24,821K, an increase of $8,778K or 55% from the comparative period in 2021. This includes $21,588K in product sales and $3,233K of service revenue related to our security services business.
  • Gross profit margins on total sales was 45% for twelve months ended December 31, 2022. This was the result of increased training costs of personnel for the CATSA airport security project, increased personnel and training in…