Daxor reports increase in NAV to $7.25 per share

Daxor (DXR) announced the filing of its Annual Report to Shareholders on Form N-CSR, disclosing its schedule of portfolio holdings as of December 31, 2024. Management reported a NAV of $7.25 per share for fiscal 2023 versus $7.08 for the comparable period in 2023. The company has reported a successful 2024 and an even stronger start to 2025, driven by a series of strategic advancements in product development, revenue growth, and key acquisitions. Revenue Growth: Daxor achieved a 116.5% increase in revenue for 2024 compared to 2023, reflecting robust demand for its diagnostic systems, a record for the company. Customer Expansion: The company signed 12 new accounts in 2024, with 60.1% growth in the number of diagnostic kits sold year-over-year. Operating Break-even: Daxor’s operating division achieved cash-flow break-even in Q1 of 2025, excluding non-cash expenses such as stock-based compensation, capex, and depreciation. Record Kit Sales: The first two months of 2025 saw record-breaking monthly kit revenue, demonstrating accelerating adoption of Daxor’s products. Strategic Contracts: Daxor secured a $2.5M two-year contract from the Department of Defense, bolstering its commercial momentum in 2024. Government Grants: The company received over $350K in NIH and Launch Tennessee grants to support ongoing research and development. “Our strong financial performance for fiscal 2024 was driven by a combination of sold, leased, placed devices for commercial and research uses, and new lab services accounts, with a dozen new clients added,” said Michael Feldschuh, CEO. “While the approval of our new BVA system has taken longer than anticipated, we still achieved our target of cash flow positive operations from the increase of our existing products. We will build on this tremendous momentum during 2025 as we get set to launch our newest point-of-care system when cleared by the FDA.”