Full Press Release Details
20/20 BioLabs Reports Full Year 2025 Financial
Results and Recent Operational Progress
Full Year 2025 Revenue of $2.0 Million, up 17%
Gross Profit Increased 68% in FY 2025 and Gross
Margin Expanded 900 bps
State-Funded Firefighter Cancer Screening Program
Expected to Drive Significant Revenue Growth in Q2 and Full Year 2026
Recent Nasdaq Listing Under Ticker Symbol "AIDX"
and New Growth Initiatives Position 20/20 BioLabs for 2026 Expansion
Gaithersburg, MD - March 31, 2026 -
20/20 BioLabs, Inc. (Nasdaq: AIDX) ("20/20" or the "Company"), an early market entrant in AI powered laboratory-based
blood tests for the early detection and prevention of cancers and chronic diseases, today reported its financial and operational results
for the full year ended December 31, 2025.
Fourth Quarter & Subsequent 2026 Operational
Management Commentary
"The fourth quarter and full year 2025 delivered
strong revenue growth, expanded gross margins, and lowered costs as we continued to build on our innovative product portfolio with the
launch of OneTest for Longevity," said Jonathan Cohen, Chief Executive Officer of 20/20 BioLabs. "Revenue was $2.0
million in the full year 2025, up 17% year over year, further validating our strategy to provide early detection that saves lives in the
fast-growing Multi-Cancer Early Detection (MCED) market. Gross margin expanded 900 basis points to 29.6% in 2025, and operating expenses
decreased 35% to $3.9 million, providing a line of sight toward profitability. We also reduced net cash used in operating activities to
$1.9 million, reflecting the operating discipline we believe will be important as we scale the business. Combined with our recent listing
on the Nasdaq and PIPE financing, we believe we are well positioned for substantial growth going forward."
"Growth has been fueled primarily by our
OneTest MCED blood test, which has been demonstrated to identify many cancer types at earlier stages than competing ctDNA based
MCEDs in a large and growing market focused on earlier cancer detection. Most recently, 18 Maryland fire departments have been notified
that they will collectively be awarded over $520,000 from the Maryland Department of Health to procure and administer OneTest MCED
blood tests, representing an increase of approximately 225% in the number of OneTest MCEDs funded through the same program last year.
We believe this state-funded screening initiative highlights the growing public sector support for our OneTest innovative cancer
"In February we launched the OneTest
for Longevity solution to help individuals track chronic inflammation associated with several major chronic diseases in collaboration
with DAISource. The product uses IBM watsonx.ai - an integrated AI application development studio - to calculate and display an individual's
risk of being diagnosed with chronic diseases such as diabetes, dementia, and cardiovascular disease. The product also provides personalized,
evidence-based dietary recommendations to help individuals lower their biomarker levels and associated disease risks."
"Previously, we announced a license agreement
with ROKIT to integrate their proprietary chronic kidney disease prediction algorithms into our Longevity platform. We are now in discussions
with ROKIT Healthcare of Korea about making this test available in East Asia."
"Looking ahead, we believe 2026 will be
a breakout year for 20/20, driven by strong demand for our products in markets that include firefighting, veterans, occupational health
and self-insured employers. As of December 31, 2025, deferred revenue totaled approximately $0.5 million, which we believe provides additional
visibility to our revenue stream as we fulfill our obligations. With the OneTest for Longevity now available for purchase, we are
also expanding sales efforts to new customer targets including a robust direct-to-consumer opportunity."
"Following recent legislation establishing
a pathway for Medicare coverage of MCEDs beginning in 2028, we plan to seek Medicare coverage for OneTest for Cancer, which we
believe could further accelerate demand over time. We believe our improved gross margin profile, lower operating cost base, and recent
access to capital have positioned the Company for growth while maintaining a focus on efficiency, a path to sustainable profitability,
and long-term value for our shareholders," concluded Cohen.
Full Year 2025 Financial Results
Total revenue for the year ended December 31,
2025 was $2.0 million, an increase of 17% compared to $1.8 million in the prior year period. The increase was due to increases in 20/20's
OneTest and CLIAx revenue streams.
Total cost of revenue for the year ended December
31, 2025 was $1.4 million, compared to $1.4 million in the prior year.
Gross profit for the year ended December 31, 2025
was $0.6 million, compared to $0.4 million in the prior year period. Gross margin was 29.6% in the full year 2025, compared to 20.6% in
the prior year period, primarily due to a change in revenue mix, including increased profits from our higher margin BioCheck and CLIAX
Total operating expenses for the year ended December
31, 2025 were $3.9 million, compared to $6.0 million in the prior year period, primarily reflecting lower digital marketing spend and
reduced research and development expenses following the completion of two key studies in 2024.
Net loss for the year ended December 31, 2025
improved by 33% to $3.7 million, compared to $5.6 million in the prior year period.
Net cash used in operating activities for the
year ended December 31, 2025 was $1.9 million, compared to $2.6 million for the year ended December 31, 2024.
Cash totaled $1.0 million as of December 31, 2025,
compared to $1.8 million as of December 31, 2024. Subsequent to December 31, 2025, on February 19, 2026, the Company completed a $5.0
million closing under a preferred purchase agreement that could provide up to $40 million in capital in multiple tranches, subject to
20/20 Biolabs meeting certain conditions.
20/20 BioLabs, Inc. (Nasdaq: AIDX) develops and
commercializes AI-powered, laboratory-based blood tests for the early detection and prevention of cancers and chronic diseases. The Company
offers two families of lab tests under the OneTest brand. OneTest for Cancer is a multi-cancer early detection (MCED) blood
test, and OneTest for Longevity , which measures inflammatory biomarkers, expected to launch in the first half of 2026. OneTest's
affordable, accurate, accessible tests can be conveniently utilized at home using new, upper arm capillary collection devices that avoid
painful needles. Tests are run in its College of American Pathologists (CAP) accredited, Clinical Laboratory Improvement Amendments (CLIA)
licensed laboratory in Gaithersburg, MD.
For more information visit https://2020biolabs.com.
Forward-Looking Statements
Certain statements in this release are "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's
current expectations and projections about future events that it believes may affect its financial condition, results of operations, business
strategy, and financial needs. Forward-looking statements can be identified by words such as "may," "could," "will,"
"should," "would," "expect," "plan," "intend," "anticipate," "believe,"
"estimate," "predict," "potential," "project," "continue," or the negative
of these terms or other comparable expressions. Actual results may differ materially from those expressed or implied by such forward-looking
statements. A number of factors could cause actual results to differ materially from those contained in these forward-looking statements,
including, but not limited to, the risks described in the Company's filings with the U.S. Securities and Exchange Commission (the
"SEC"), available on the SEC's website at www.sec.gov, including the Company's most recent Annual Report on Form
10-K, as well as in our other reports filed or furnished from time to time with the SEC. The
Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur
after the date of this release or to reflect the occurrence of unanticipated events, except as required by applicable law. Although the
Company believes the expectations expressed in these forward-looking statements are reasonable, it cannot guarantee future results, and
investors are cautioned that actual outcomes may differ materially from those anticipated.
Direct: 949-491-8235
DECEMBER 31, 2025 AND 2024
| 2025 | 2024 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 1,025,987 | $ | 1,784,009 | ||||
| Accounts receivable, net | 199,954 | 135,272 | ||||||
| Inventory | 116,217 | 47,164 | ||||||
| Prepaid expenses and other current assets | 128,975 | 67,780 | ||||||
| Total current assets | 1,471,133 | 2,034,225 | ||||||
| License agreement, net | 271,143 | 293,643 | ||||||
| Property and equipment, net | 56,677 | 116,669 | ||||||
| Intangible assets, net | 202,264 | 205,529 | ||||||
| Right-of-use asset, net | 605,289 | 772,385 | ||||||
| Deferred offering costs | 1,507,794 | - | ||||||
| Other assets | 23,057 | 161,957 | ||||||
| Total assets | $ | 4,137,357 | $ | 3,584,408 | ||||
| Liabilities and Stockholders' equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 868,545 | $ | 372,303 | ||||
| Accrued liabilities | 785,784 | 346,622 | ||||||
| Deferred revenue | 414,871 | 470,451 | ||||||
| Derivative liability | 143,382 | - | ||||||
| Convertible note | 74,611 | - | ||||||
| Operating lease liability - current | 175,948 | 165,702 | ||||||
| Total current liabilities | 2,463,141 | 1,355,078 | ||||||
| Long-term liabilities: | ||||||||
| Convertible notes payable, net | 619,355 | - | ||||||
| Deferred revenue - long-term | 41,816 | 50,000 | ||||||
| Derivative liabilities - long-term | 543,545 | - | ||||||
| Operating lease liability - long term | 488,725 | 673,848 | ||||||
| Total long-term liabilities | 1,693,441 | 723,848 | ||||||
| Total liabilities | 4,156,582 | 2,078,926 | ||||||
| Commitments and contingencies (Note 8) | - | - | ||||||
| Stockholders' equity: | ||||||||
| Series D preferred stock, $0.01 par value; 936,329 authorized; 101,565 and 62,441 shares issued and outstanding as of December 31, 2025 and 2024, respectively; liquidation preference of $362,169 | 1,016 | 624 | ||||||
| Series C preferred stock, $0.01 par value; 3,340,909 authorized; 1,204,040 shares issued and outstanding as of December 31, 2025 and 2024; liquidation preference of $5,297,776 | 12,040 | 12,040 | ||||||
| Series B preferred stock, $0.01 par value; 3,569,405 authorized; 1,471,487 shares issued and outstanding as of December 31, 2025 and 2024; liquidation preference of $5,194,349 | 14,715 | 14,715 | ||||||
| Series A-2 preferred stock, $0.01 par value; 800,000 authorized; 442,402 shares issued and outstanding as of December 31, 2025 and 2024; liquidation preference of $1,442,231 | 4,424 | 4,424 | ||||||
| Series A-1 preferred stock, $0.01 par value; 978,000 authorized; 651,465 shares issued and outstanding as of December 31, 2025 and 2024; liquidation preference of $1,999,998 | 6,515 | 6,515 | ||||||
| Series A preferred stock, $0.01 par value; 1,303,000 authorized; 846,368 shares issued and outstanding as of December 31, 2025 and 2024; liquidation preference of $2,598,350 | 8,464 | 8,464 | ||||||
| Common stock, $0.01 par value; 50,000,000 authorized; 5,442,249 and 4,823,125 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 54,422 | 48,231 | ||||||
| Subscription receivable | - | (28,734 | ) | |||||
| Additional paid-in capital | 33,126,398 | 30,947,601 | ||||||
| Accumulated deficit | (33,247,219 | ) | (29,508,398 | ) | ||||
| Total stockholders' (deficit) equity | (19,225 | ) | 1,505,482 | |||||
| Total liabilities and stockholders' equity | $ | 4,137,357 | $ | 3,584,408 |
STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024
| 2025 | 2024 | |||||||
| Revenues | $ | 2,045,133 | $ | 1,752,343 | ||||
| Cost of revenues | 1,440,592 | 1,392,032 | ||||||
| Gross profit | 604,541 | 360,311 | ||||||
| Operating expenses: | ||||||||
| Sales, general and administrative | 3,342,843 | 4,759,587 | ||||||
| Research and development | 592,569 | 1,261,781 | ||||||
| Loss on impairment of fixed assets | - | 16,356 | ||||||
| Total operating expenses | 3,935,412 | 6,037,724 | sv | |||||
| Operating loss | (3,330,871 | ) | (5,677,413 | ) | ||||
| Other (expense) income: | ||||||||
| Interest expense | (156,207 | ) | (12,646 | ) | ||||
| Interest income | 21,399 | 79,467 | ||||||
| Change in fair value of derivative liabilities | 7,737 | - | ||||||
| Loss on issuance of convertible note | (280,764 | ) | - | |||||
| Other (expense) income, net | (115 | ) | 58,925 | |||||
| Total other (expense) income | (407,950 | ) | 125,746 | |||||
| Provision for income taxes | - | - | ||||||
| Net loss | $ | (3,738,821 | ) | $ | (5,551,667 | ) | ||
| Basic and diluted net loss per common share | $ | (0.76 | ) | $ | (1.16 | ) | ||
| Weighted-average common shares outstanding, basic and diluted | 4,930,287 | 4,800,524 |
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024