05:05 PM EDT, 05/28/2025 (MT Newswires) -- Nanalysis Scientific ( NSCIF ) after close of trade Wednesday announced a narrower net loss for the first quarter, even as total sales and revenues were lower due to "some macro headwinds."

The company, a player in portable NMR spectrometers and MRI technology for industrial and research applications, reported a net loss of near $1.3 million for the first quarter of 2025, which is an improvement compared to a net loss $2.52 million over the same period in 2024. It said the decrease in net loss was due to improvements in product sales gross margin, the effects of 2024 cost reductions taken, lower depreciation due to the impairment of an acquired intangible asset in 2024, and finally the fact that "losses from associate are no longer recorded in the consolidated statement of loss and comprehensive loss due to the impairment of the Quad investment in 2024."

For the three months ended March 31, 2025, the company reported consolidated revenue of $10.594 million, a decrease of 5% from the comparative period in 2024. It said this decrease was caused by the "macro uncertainties" emanating from the United States which impacted product sales. Qithin the security services segment, revenue was flat with an increase in services revenue being offset by a decrease in flow-through inventory revenue, it added.

"The first quarter of this year was not without some macro headwinds which were felt at a global scale," said founder and CEO Sean Krakiwsky. "In spite of that, the company has been able to continue generating positive Adjusted EBITDA and positive operating cash-flows of $2.7 million. We are seeing significant margin improvement within product sales as a direct result of improvements to our manufacturing process and overall cost cutting measures."

The company closed trading at $0.285 a share, up 9.62% from near 52 week lows.