Isoray, Inc. (NYSE: ISR), a medical technology company and innovator in seed brachytherapy powering expanding treatments throughout the body reported financial results for the fiscal fourth quarter and full-year that ended June 30th, 2020. Revenue for the fourth quarter increased 18% to USD 2.28 Million compared to USD 1.92 Million a year ago. Isoray’s core prostate brachytherapy revenue increased 11% compared to the same period last year. Gross profit as a percentage of revenues rose 47% for the quarter compared to 45.7% in the prior year period. Operating expenses increased 12% in the fourth quarter to USD 2.26 Million compared to USD 2.02 Million in the prior year.
Isoray CEO Lori Woods said, “Our full year financial performance serves as further evidence that our strategies to grow the company and expand the usage of our proprietary isotope, Cesium-131, are working. Within our core prostate business, we continued to see growth despite the impact of the pandemic that we believe demonstrates that we not only continued to take market share, but we are also leading the growth of the prostate brachytherapy market overall. Beyond prostate, our future efforts will continue to build on our progress in bringing the therapeutic benefits of Cesium-131 as a treatment option for cancers throughout the body.”
Total expenses for fiscal year 2020 increased 4% to USD 8.6 Million compared to USD 8.3 Million in the prior year period.
The company expects revenue for the first quarter of fiscal 2021 to be between USD 2.3 Million and USD 2.5 Million, as well as gross profit as a percentage to range from 48% and 53%.
Written by Nikita Medvedev.
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