Medical device coating technology company Hydromer, Inc. reported preliminary unaudited financial results for the first quarter of 2025, revealing a 9% revenue decline compared to the same period in the previous year. The company reported quarterly revenue of $1.0 million, down from $1.1 million in Q1 2024.
Net income for the quarter was $112,000, representing a 64% decrease from the same period in 2024. CEO Michael Torti attributed the financial performance to legacy customer attrition and typical onboarding delays in the medical coatings sector.
Despite the financial challenges, Torti emphasized the company’s continued strategic investments in product development and commercial infrastructure. The leadership remains committed to enhancing their product pipeline and expanding into higher-value markets.
The company has also been focusing on improving financial record-keeping since the appointment of new management. After careful consideration, Hydromer has decided to postpone a comprehensive U.S. GAAP audit, citing current cash resource priorities.
As an ISO 9001:2015 global surface modification and coating solutions provider, Hydromer serves customers across the United States, Europe, and Asia-Pacific. The company maintains FDA, GMP, ISO 13485, and ISO 9001 compliance, and has developed numerous proprietary coating formulations over its four-decade history.
Hydromer continues to prioritize operational efficiency, customer partnerships, and next-generation technology development as part of its long-term growth strategy.
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