Blockchain Registration Transaction Record

Hydromer Reports 12% Revenue Decline in 2024 Financial Results

Hydromer, Inc. reports a 12% decline in revenue for 2024, citing legacy program attrition and lack of new product introductions. Despite challenges, the company achieved a normalized net loss of $83.0 thousand. Efforts to streamline operations and invest in new product development signal a strategic shift towards future growth.

This news matters as it highlights the challenges Hydromer faced in replenishing its sales pipeline and keeping pace with customer needs due to past investment decisions. The company's efforts to streamline operations, invest in new product development, and explore new markets signify a strategic shift towards future success and growth. The development of a new UV-curable coating formulation represents a key step in meeting unmet customer needs and expanding revenue streams.