Biomerica, Inc.
BMRA Healthcare Medical Devices
Biomerica, Inc.’s revenue for fiscal 2026 (year ended May 2026) was $4.5 million, down 16.2% from fiscal 2025. In the quarter to May 2026, revenue grew 17.0%, EPS grew 37.8% and free cash flow fell 35.1%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.
Follow BMRA
Biomerica, Inc. (BMRA) Beneish M-score
Biomerica, Inc.'s Beneish M-score for fiscal 2026 is −2.06; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
Embed this chart
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −2.06 | 1.44 |
| FY2025 | −3.50 | (0.79) |
| FY2024 | −2.71 | (1.12) |
| FY2023 | −1.59 | 2.40 |
| FY2022 | −4.00 | (2.60) |
| FY2021 | −1.40 | 0.03 |
| FY2020 | −1.42 | 0.38 |
| FY2019 | −1.80 | 1.40 |
| FY2018 | −3.20 | (0.50) |
| FY2017 | −2.70 | 1.18 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.28 | — | 1.18 | |
| Gross margin index | 1.15 | — | 0.61 | |
| Asset quality index | 2.51 | — | 1.01 | |
| Sales growth index | 0.84 | — | 0.75 | |
| Depreciation index | 0.89 | — | 0.10 | |
| SG&A index | 1.27 | — | −0.22 | |
| Total accruals to total assets | (0.05) | — | −0.25 | |
| Leverage index | 1.25 | — | −0.41 | |
| Beneish M-score | Elevated | −2.06 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| PETV PetVivo Holdings, Inc. compare | −8.7× |
| BTCY Biotricity Inc. compare | −3.2× |
| CTSO Cytosorbents Corporation compare | −2.1× |
| BMRA Biomerica, Inc. | −2.1× |
| TNON Tenon Medical, Inc. compare | −1.8× |
| WOK WORK Medical Technology Group LTD compare | −1.7× |
| NMTC NeuroOne Medical Technologies Corporation compare | 0.1× |
| AMIX Autonomix Medical, Inc. compare | — |
| AEMD Aethlon Medical, Inc. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI