Impact Biomedical reported a FY 2025 net loss of USD 11.87 million, narrowing 52% from the prior year. Total costs and expenses fell 85% to USD 4.31 million, reflecting the absence of a USD 25.09 million goodwill impairment recorded in FY 2024. The company recorded USD 32,000 of biotech retail sales from Celios air purification technology acquired in February 2025, while cost of revenue was USD 424,000 and included an impairment of about USD 419,000 of Celios inventory. Other expense was USD 10.17 million, compared with other income in the prior year, driven by a USD 9.39 million loss from changes in the fair value of a related-party note payable after a modification that allowed settlement in cash or shares. Impact Biomedical said it faces substantial doubt about its ability to continue as a going concern and is exploring capital raises and debt financing while seeking to monetize its intellectual property and control operating costs.

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