Saturday, December 16, 2023 8:31:28 AM
Second product is VTM (viral transport medium), the vials (with solution) that are used to transport samples taken for respiratory diseases (swab your nose for covid/etc ...). This was about $5M/year for 2021/2022, but has dried up. It may return, or they will use that manufacturing space for their other products.
The third product is their quality assurance products (QAP's), that are used to validate that diagnostic test equipment is working correctly. This business is growing, and is expected to be the main driver of growth. They are partnering with diagnostic testing companies to include with their testing products, as well as providing to labs around the world.
Last year, the company did about $18M in sales, are targeting roughly $30M for 2024, and have geared up their facilities to do $100M in the next 3 to 5 years. This company is not well known, but should be. They are a hidden gem, and this is an excellent time to get onboard. They have a great balance sheet, will not need any financing, and they are buying back stock (to retire) through their NCIB program.
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