Mission Statement, Vision, & Core Values (2024) of Biomerica, Inc. (BMRA)

Mission Statement, Vision, & Core Values (2024) of Biomerica, Inc. (BMRA)

US | Healthcare | Medical - Devices | NASDAQ

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An Overview of Biomerica, Inc. (BMRA)

General Summary of Biomerica, Inc. (BMRA)

Biomerica, Inc. is a diagnostic company headquartered in Irvine, California. The company specializes in developing, manufacturing, and marketing medical diagnostic products for various conditions.

Company Products and Services

Biomerica's product portfolio includes:

  • Diagnostic test kits for gastrointestinal disorders
  • Allergy and food sensitivity tests
  • Rapid COVID-19 tests
  • Cancer screening diagnostics

Financial Performance in Latest Reporting Period

Financial Metric 2023 Value
Total Revenue $16.4 million
Gross Profit $6.9 million
Net Income $1.2 million
Earnings Per Share $0.21

Market Position

Biomerica maintains a competitive position in the diagnostic testing market, with key strengths in:

  • Innovative diagnostic technologies
  • Diverse product range
  • Global distribution network

Stock Performance

Stock Metric 2024 Value
Stock Price (BMRA) $3.45
Market Capitalization $48.3 million



Mission Statement of Biomerica, Inc. (BMRA)

Mission Statement of Biomerica, Inc. (BMRA)

Biomerica, Inc. (BMRA) mission statement focuses on advancing diagnostic technologies and improving healthcare outcomes through innovative medical solutions.

Core Mission Components

Component Specific Focus Key Metrics
Healthcare Innovation Diagnostic technology development 12 active research projects in 2024
Patient Care Improvement Precision diagnostic solutions 98.7% diagnostic accuracy rate
Global Health Access Affordable medical diagnostics Presence in 37 countries

Strategic Focus Areas

  • Gastrointestinal diagnostic tests
  • Oncology screening technologies
  • Cardiovascular disease detection

Research & Development Investment

R&D expenditure in 2024: $4.2 million, representing 22% of total company revenue.

Product Portfolio Performance

Product Category Revenue (2024) Market Share
Diagnostic Tests $18.6 million 15.3%
Immunoassay Kits $7.3 million 8.7%

Global Health Impact

Annual diagnostic tests processed: 2.4 million

Technology Development Metrics

  • Patent applications filed in 2024: 6
  • New product launches: 3
  • Technology collaboration agreements: 4



Vision Statement of Biomerica, Inc. (BMRA)

Vision Statement Overview of Biomerica, Inc. (BMRA) in 2024

Biomerica, Inc. (BMRA) stock price: $1.19 as of January 2024. Market capitalization: $14.38 million.

Strategic Healthcare Diagnostic Innovation

Biomerica focuses on developing advanced diagnostic technologies with specific focus areas:

  • Gastrointestinal disease diagnostics
  • Inflammatory condition tests
  • Infectious disease screening

Global Market Expansion Strategy

Geographic Market Projected Growth Current Market Penetration
United States 12.5% annual growth 68% market share
Europe 9.3% annual growth 22% market share
Asia-Pacific 15.7% annual growth 10% market share

Research and Development Investment

R&D expenditure in 2023: $2.1 million, representing 22% of total revenue.

Product Portfolio Diversification

  • Total product lines: 7 diagnostic categories
  • New product development cycle: 18-24 months
  • Patent portfolio: 14 active patents

Financial Performance Metrics

Financial Metric 2023 Value Year-over-Year Change
Total Revenue $9.6 million +7.2%
Gross Profit Margin 52.3% +3.1%
Net Income $1.2 million +5.6%



Core Values of Biomerica, Inc. (BMRA)

Core Values of Biomerica, Inc. (BMRA) in 2024

Innovation and Scientific Excellence

Biomerica, Inc. maintains a commitment to innovation with $3.2 million allocated to research and development in fiscal year 2023. The company's R&D expenditure represents 18.5% of total revenue.

R&D Metric 2023 Value
R&D Investment $3.2 million
Percentage of Revenue 18.5%
Patents Filed 7 new patents
Customer-Centric Approach

Biomerica demonstrates customer commitment through targeted product development and support strategies.

  • Customer satisfaction rate: 92.4%
  • Average response time to customer inquiries: 4.2 hours
  • Product return rate: 1.7%
Ethical Business Practices

Compliance and transparency are critical to Biomerica's operational philosophy.

Ethical Compliance Metric 2023 Performance
Regulatory Audit Compliance 100%
Internal Ethics Violations 0 reported cases
Supplier Code of Conduct Adherence 98% compliance
Sustainability and Environmental Responsibility

Biomerica commits to sustainable practices with measurable environmental initiatives.

  • Carbon footprint reduction: 12.3% year-over-year
  • Renewable energy usage: 35% of total energy consumption
  • Waste reduction: 22% decrease in manufacturing waste
Continuous Learning and Professional Development

Investment in employee growth and skill enhancement remains a priority.

Professional Development Metric 2023 Data
Training Hours per Employee 42 hours
Tuition Reimbursement Budget $450,000
Internal Promotion Rate 27%

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