Bullish indicating open at $55-$60, IPO prices at $37
Scientific Industries Inc. (SCND), a laboratory analytical instruments manufacturer with a market capitalization of $10.7 million, announced the appointment of Nicholas Lavacca as its new Chief Financial Officer (CFO), effective April 1, 2025. According to InvestingPro analysis, the company maintains a strong balance sheet with more cash than debt, though it faces challenges with rapid cash burn. The announcement came following the departure of Reginald Averilla, who had served as CFO since April 11, 2022, and has left the company to pursue other opportunities.
Lavacca, 58, brings a wealth of experience to the role, with over three decades in financial accounting and management across both private and public companies. Before joining Scientific Industries, he served as Senior Vice President of Accounting and Treasury at Innovid Corp., a publicly traded ad tech firm, from January 2022 to March 2025. His career also includes time as Vice President Controller for Horizon Media and various financial positions at Omnicom Group (NYSE:OMC), The New York Times (NYSE:NYT) Company, and Deloitte.
Lavacca, a Certified Public Accountant, holds a BBA in Accounting and an MBA in Finance from Hofstra University. Scientific Industries has stated that there are no familial relationships between Lavacca and any of the company’s directors or executive officers, and no reportable transactions exist between him and the company.
As CFO, Lavacca will receive an annual salary of $200,000 and will be eligible for the company’s annual bonus program with a target bonus of 10% of his base salary. Additionally, he will be eligible to participate in the company’s 2022 Equity Incentive Plan. The appointment comes at a crucial time as the company, which generated revenue of $10.6 million in the last twelve months with a 46% gross margin, seeks to improve its financial performance. InvestingPro data indicates the stock is currently undervalued based on its Fair Value analysis.
The information regarding this executive change was based on a press release statement filed with the Securities and Exchange Commission on April 2, 2025. Scientific Industries is incorporated in Delaware and has its principal executive offices in Bohemia, New York. The company’s common stock is traded on the OTC market under the ticker symbol SCND. Investors can access comprehensive analysis and additional insights about Scientific Industries through InvestingPro’s detailed research report, which is part of its coverage of over 1,400 US stocks.
In other recent news, Scientific Industries Inc. reported its financial results for the fourth quarter of 2024, highlighting significant operational improvements and product innovations. The company achieved a 24% increase in sales within its bioprocessing segment compared to the previous year. Operating expenses were reduced by $3 million, and cash used in operations decreased by $2.5 million, contributing to improved financial efficiency. Gross margins were adjusted to 58%, with operative gross margins at 70%, and the net loss was reduced by approximately $1 million.
The company launched new components in its pharmacy automation and bioprocessing product lines, signaling continued innovation. Looking ahead, Scientific Industries plans to launch a machine learning model by the end of fiscal 2025, targeting the mammalian cell culture market. Despite the current financial challenges, the company is optimistic about future growth, supported by a robust starting pipeline of nearly $4 million for 2025. These developments reflect Scientific Industries’ strategic focus on engineering biology at scale to address global challenges.
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