"2025 was a productive year for BGMS, marked by the acquisition of Fitters Sdn. Bhd., a fire safety materials and equipment company, on September 12, 2025, the liquidation of our U.K. subsidiary and the sale of our Plogosertib drug, transactions which strengthened our balance sheet. We used this momentum to chart our new focus towards continued growth in the company," said Datuk Dr. Doris Wong Sing EE, Chief Executive Officer of BGMS.
In the fourth quarter of 2025, the Company reported product revenue from sales and distribution of fire safety equipment of $0.7 million. The cost of sales related to these activities was $0.5 million. The Company’s net cash used in operating activities was $4.8 million for the twelve months ended December 31, 2025, compared to $8.0 million for the same period of 2024. As of December 31, 2025, cash and cash equivalents totaled $3.5 million, compared to $3.8 million as of December 31, 2024.
The Company also declared a quarterly cash dividend of $0.15 per share on its 6% Convertible Exchangeable Preferred Stock, which was paid on February 1, 2026, to holders of record as of January 22, 2026. The net loss for the year ended December 31, 2025, was $3.0 million, including stock-based compensation expense of $2.3 million, compared to a net loss of $11.2 million for the same period in 2024.
Overall, the results reflect a strategic shift towards fire safety and a focus on operational efficiency, which may positively influence investor sentiment and stock performance moving forward.
