PositiveID 2015 Revenues Balloon on License Fee, Recent Acquisitions

NEW YORK (GenomeWeb) – Biological detection systems firm PositiveID today reported a greater than 200 percent jump in revenues for 2015, primarily due to the receipt of a previously deferred licensee fee. However, the company still fell short of its own guidance.

For the 12-month period ended Dec. 31, PositiveID’s revenues ballooned to $2.9 million from $945,000 in 2014.

Approximately 90 percent of revenues for the year came from the license fee paid by Boeing, which agreed in late 2012 to pay $2.5 million for the exclusive rights to PositiveID’s M-BAND airborne bio-threat detector in North America. The remainder of the company’s revenues for 2015 were derived from the operations of laboratory and communication vehicle maker ENG Mobile Systems and non-contact thermometer developer Thermomedics, both of which PositiveID acquired in 2015.

Sourced through Scoop.it from: www.genomeweb.com

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