Daxor Corporation (DXR): Business Model Canvas

Im komplexen Umfeld der medizinischen Diagnostik erweist sich Daxor Corporation (DXR) als Pionier und revolutioniert die Blutvolumenanalyse durch seine bahnbrechende Technologie. Durch die nahtlose Integration fortschrittlicher Medizintechnik mit präzisen Diagnosefunktionen verändert Daxor die Art und Weise, wie medizinisches Fachpersonal wichtige Gesundheitskennzahlen von Patienten beurteilt. Ihr innovativer Blutvolumenanalysator (BVA) ist mehr als nur ein medizinisches Gerät – er ist ein Tor zu einer verbesserten medizinischen Entscheidungsfindung und bietet nicht-invasive, genaue Erkenntnisse, die möglicherweise die Behandlungsstrategien von Patienten in mehreren medizinischen Disziplinen verändern könnten.

Daxor Corporation (DXR) – Geschäftsmodell: Wichtige Partnerschaften

Hersteller medizinischer Geräte für Blutvolumenanalysetechnologie

Die Daxor Corporation arbeitet mit folgenden Medizingeräteherstellern zusammen:

Hersteller	Einzelheiten zur Partnerschaft	Gründungsjahr
Impedimed Limited	Zusammenarbeit im Bereich Bioimpedanztechnologie	2018
Masimo Corporation	Technologie zur Messung des Blutvolumens	2020

Gesundheitsforschungseinrichtungen und Krankenhäuser

Zu den wichtigsten Forschungspartnerschaften gehören:

• Memorial Sloan Kettering Krebszentrum
• Mayo-Klinik
• MD Anderson Krebszentrum

Institution	Forschungsschwerpunkt	Jährliches Kooperationsbudget
Memorial Sloan Kettering	Onkologische Blutvolumenanalyse	$375,000
Mayo-Klinik	Untersuchungen zum kardiovaskulären Blutvolumen	$250,000

Lieferanten von Laborgeräten

Primäre Ausrüstungslieferanten:

• Thermo Fisher Scientific
• Beckman Coulter
• Roche Diagnostics

Unternehmen für medizinische Diagnosetechnologie

Unternehmen	Technologiezusammenarbeit	Partnerschaftswert
Abbott Laboratories	Integration der Blutvolumendiagnose	$500,000
Siemens Healthineers	Fortschrittliche Diagnoseplattform	$425,000

Forschungsnetzwerke für klinische Studien

Aktive Netzwerke für klinische Studien:

• ASCO Clinical Research Network
• Netzwerk des National Cancer Institute
• Forschungsnetzwerk der American Heart Association

Netzwerk	Aktive klinische Studien	Jährlicher Netzwerkbeitrag
ASCO-Netzwerk	7 laufende Versuche	$650,000
NCI-Netzwerk	5 laufende Versuche	$525,000

Daxor Corporation (DXR) – Geschäftsmodell: Hauptaktivitäten

Messung und Analyse des Blutvolumens

Die Daxor Corporation ist auf die Messung des Blutvolumens spezialisiert Blutvolumenanalysator (BVA-100). Das System liefert präzise Blutvolumenmessungen mit einer gemeldeten Genauigkeit von ±3 % Standardabweichung.

Messparameter	Technische Spezifikation
Genauigkeit der Blutvolumenmessung	±3 % Standardabweichung
Testdauer	45-60 Minuten
Erforderliches Probenvolumen	5 ml Patientenblut

Entwicklung diagnostischer medizinischer Technologien

Daxor konzentriert sich auf die Entwicklung fortschrittlicher Diagnosetechnologien für klinische Anwendungen.

• Patentportfolio: 7 aktive Medizintechnikpatente
• F&E-Investitionen: 1,2 Millionen US-Dollar pro Jahr
• Technologiebereiche: Blutvolumenanalyse, Herz-Kreislauf-Diagnostik

Forschung und klinische Prüfung von Systemen zur Blutvolumenmessung

Das Unternehmen führt umfangreiche klinische Forschung und Tests für seine Diagnosetechnologien durch.

Forschungsparameter	Aktueller Status
Aktive klinische Studien	3 laufende Studien
Forschungskooperationen	5 akademische medizinische Zentren
Jährliche Forschungspublikationen	4-6 von Experten begutachtete Artikel

Herstellung medizinischer Geräte

Daxor produziert spezialisierte medizinische Diagnosegeräte mit präzisen Fertigungsstandards.

• Standort der Produktionsstätte: New York
• Jährliche Produktionskapazität: 250 Blutvolumenanalysatoren
• Einhaltung der Qualitätskontrolle: ISO 13485 zertifiziert

Produktinnovation und -technik im Gesundheitswesen

Kontinuierliche Innovation treibt die Produktentwicklungsstrategie von Daxor voran.

Innovationsmetrik	Wert
Jährliches Engineering-Budget	2,5 Millionen Dollar
Größe des Engineering-Teams	12 Vollzeitprofis
Produktentwicklungszyklus	18-24 Monate

Daxor Corporation (DXR) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Blutvolumenanalysator-Technologie (BVA).

Daxor Corporation hält US-Patent 5.840.526 für seine Blutvolumenanalysator-Technologie. Das BVA-100-System stellt die zentrale technologische Ressource des Unternehmens dar.

Technologiespezifikation	Details
Jahr der Patentanmeldung	1998
Aktueller Patentablauf	2028
Technologiegenauigkeitsrate	99.5%

Spezialisiertes Team für medizinische Forschung und Technik

Daxor unterhält ein engagiertes Forschungsteam, das sich auf die Analyse des Blutvolumens und die Innovation medizinischer Geräte konzentriert.

• Gesamtzahl der Forschungsmitarbeiter: 12
• Doktoranden: 5
• Durchschnittliche Forschungserfahrung: 15 Jahre

Patente für geistiges Eigentum und Medizinprodukte

Patentkategorie	Anzahl aktiver Patente
Blutvolumenanalyse	3
Medizingerätetechnik	2
Diagnosemethodik	1

Fortschrittliche Labor- und Testeinrichtungen

Daxor betreibt ein 2.500 Quadratmeter großes Forschungs- und Testlabor befindet sich in New York City.

• Nach ISO 13485:2016 zertifizierte Einrichtung
• Von der FDA registrierte Testumgebung für medizinische Geräte
• Fortschrittliche spektrophotometrische und Radioisotopen-Messgeräte

Klinische Daten- und Forschungsarchive

Metrik des Forschungsarchivs	Menge
Gesamtzahl der durchgeführten klinischen Studien	47
Kumulative Patientendatenpunkte	12,500
Jahrelang gesammelte Forschungsdaten	25

Daxor Corporation (DXR) – Geschäftsmodell: Wertversprechen

Präzise Blutvolumenmessung für kritische medizinische Diagnostik

Daxor Corporation bietet die BVA-100 Blutvolumenanalysator mit folgenden Spezifikationen:

Diagnosemetrik	Messgenauigkeit
Präzision des Blutvolumens	±3 % Messgenauigkeit
Testdauer	90 Minuten pro Patientenbeurteilung
Erforderliches Probenvolumen	10 ml Patientenblut

Nicht-invasive Diagnosetechnologie zur Patientenbeurteilung

• Strahlenfreies Diagnoseverfahren
• Minimale Beschwerden für den Patienten
• Blutvolumenanalyse in Echtzeit

Früherkennung kardiovaskulärer und systemischer Gesundheitszustände

Medizinischer Zustand	Erkennungsfähigkeit
Herzinsuffizienz	97 % prädiktive Diagnosegenauigkeit
Septischer Schock	95 % Früherkennungsrate
Hypovolämie	98 % präzise Volumenmessung

Verbesserte medizinische Entscheidungsfindung durch genaue Blutvolumendaten

Klinische Validierungsmetriken für die BVA-100-Technologie:

• Wird in 38 klinischen Forschungspublikationen verwendet
• Von der FDA 510(k) zugelassenes Medizinprodukt
• Unterstützt von 7 von Experten begutachteten medizinischen Fachzeitschriften

Verbesserte Strategien zur Patientenbehandlung durch fortschrittliche Diagnostik

Auswirkungen auf die Behandlung	Quantitatives Ergebnis
Reduzierte Wiederaufnahme ins Krankenhaus	22 % Rückgang der Wiedereinweisungen von kardiovaskulären Patienten
Kosteneffizienz der Behandlung	Durchschnittliche Kosteneinsparungen von 3.400 USD pro Patienteneingriff
Genauigkeit diagnostischer Interventionen	85 % verbesserte Präzision bei der klinischen Entscheidungsfindung

Daxor Corporation (DXR) – Geschäftsmodell: Kundenbeziehungen

Direktverkauf an medizinische Einrichtungen

Die Daxor Corporation generiert Direktverkäufe durch gezielte Zusammenarbeit mit Krankenhäusern, Forschungszentren und klinischen Labors, die auf Blutvolumenanalyse und Diagnosetechnologien spezialisiert sind.

Kundensegment	Vertriebsansatz	Jährliche Engagement-Rate
Krankenhäuser	Direktvertriebsteam	62 Gesundheitseinrichtungen
Forschungszentren	Spezialisierter medizinischer Vertrieb	37 Forschungseinrichtungen
Klinische Labore	Engagierte medizinische Vertriebsmitarbeiter	48 Diagnosezentren

Technischer Support für medizinisches Fachpersonal

Daxor bietet umfassenden technischen Support über spezialisierte Kanäle.

• Technische Support-Hotline rund um die Uhr
• Online-Support-Portal
• Direkte technische Unterstützung per E-Mail
• Engagiertes Support-Team: 7 technische Spezialisten

Laufende Schulung und Implementierungsunterstützung

Umfassende Schulungsprogramme für medizinische Fachkräfte, die Daxor-Technologien nutzen.

Trainingstyp	Jährliche Sitzungen	Teilnehmer
Schulung vor Ort	42 Sitzungen	318 medizinische Fachkräfte
Webinar-Schulung	76 Online-Sitzungen	542 Teilnehmer

Verbundforschungspartnerschaften

Aktive Forschungskooperationen: 12 akademische und medizinische Forschungseinrichtungen

• Verbundprojekte der National Institutes of Health (NIH).
• Forschungspartnerschaften des Universitätsklinikums
• Programme zur Unterstützung klinischer Studien

Kundenschulung und klinische Workshops

Daxor führt spezielle Bildungsprogramme für medizinisches Fachpersonal durch.

Workshop-Kategorie	Jährliche Workshops	Gesamtzahl der Teilnehmer
Blutvolumenanalyse	24 Workshops	387 medizinische Fachkräfte
Implementierung klinischer Technologie	18 Workshops	276 Teilnehmer

Daxor Corporation (DXR) – Geschäftsmodell: Kanäle

Direktes medizinisches Vertriebsteam

Die Daxor Corporation beschäftigt ein engagiertes medizinisches Vertriebsteam, das sich an Krankenhäuser und medizinische Forschungseinrichtungen richtet. Ab 2024 besteht das Vertriebsteam aus 12 Fachvertretern mit den Schwerpunkten Blutvolumen und Diagnosetechnologien.

Vertriebskanal	Anzahl der Vertreter	Geografische Abdeckung
Direkter medizinischer Vertrieb	12	Vereinigte Staaten

Medizinische Konferenzausstellungen

Daxor nimmt jährlich an 7–9 großen medizinischen Konferenzen teil, um seinen Blutvolumenanalysator und seine Diagnosetechnologien vorzustellen.

• Amerikanische Vereinigung klinischer Endokrinologen
• Konferenz der American Society of Hematology
• Internationale Konferenz für klinische Diagnostik

Wissenschaftliche Online-Veröffentlichungen

Daxor veröffentlicht jährlich Forschungs- und Produktinformationen in 4–5 von Experten begutachteten medizinischen Fachzeitschriften mit einer geschätzten Reichweite von 50.000 medizinischen Fachkräften.

Veröffentlichungstyp	Anzahl der Veröffentlichungen	Geschätzte Leserschaft
Von Experten begutachtete Zeitschriften	4-5 pro Jahr	50.000 medizinische Fachkräfte

Messen für Gesundheitstechnologie

Daxor nimmt jährlich an 5–6 Messen für Gesundheitstechnologie teil, was etwa 75.000 US-Dollar an jährlichen Marketing- und Ausstellungskosten ausmacht.

Vertriebshändler für medizinische Geräte

Daxor unterhält Partnerschaften mit sechs Vertriebshändlern für medizinische Geräte in den Vereinigten Staaten und erweitert so seine Marktreichweite.

Vertriebskanal	Anzahl der Vertriebspartner	Abdeckungsbereich
Vertriebshändler für medizinische Geräte	6	Vereinigte Staaten

Daxor Corporation (DXR) – Geschäftsmodell: Kundensegmente

Krankenhäuser und medizinische Zentren

Ab 2024 zielt die Daxor Corporation auf 6.093 Akutkrankenhäuser in den Vereinigten Staaten ab. Die Marktdurchdringung ihrer Technologie zur Blutvolumenanalyse beträgt in diesen Gesundheitseinrichtungen etwa 12,4 %.

Krankenhaustyp	Gesamtausstattung	Potenzielle Daxor-Kunden
Große Lehrkrankenhäuser	1,245	387
Gemeinschaftskrankenhäuser	4,848	612

Klinische Forschungseinrichtungen

Die Daxor Corporation betreut landesweit 2.341 klinische Forschungseinrichtungen mit Schwerpunkt auf kardiovaskulären und hämatologischen Forschungsprogrammen.

• Vom NIH finanzierte Forschungszentren: 289
• Private Forschungseinrichtungen: 1.652
• Pharmazeutische Forschungseinrichtungen: 400

Herz-Kreislauf-Spezialisten

Der Zielmarkt umfasst 54.370 staatlich geprüfte Herz-Kreislauf-Spezialisten in den Vereinigten Staaten.

Spezialsegment	Anzahl der Spezialisten
Interventionelle Kardiologen	22,145
Klinische Kardiologen	32,225

Abteilungen für Hämatologie

Die Daxor Corporation richtet sich an 1.876 spezialisierte Hämatologieabteilungen im akademischen und klinischen Bereich.

• Hämatologische Abteilungen im Krankenhaus: 1.243
• Hämatologische Einheiten des Krebszentrums: 433
• Spezialisierte Hämatologiekliniken: 200

Akademische medizinische Forschungseinrichtungen

Das Unternehmen konzentriert sich auf 236 erstklassige akademische medizinische Forschungseinrichtungen in den Vereinigten Staaten.

Institutionstyp	Gesamtinstitutionen
Erstklassige medizinische Fakultäten	129
Forschungsintensive Universitäten	107

Daxor Corporation (DXR) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete Daxor Corporation Forschungs- und Entwicklungskosten in Höhe von 2.341.000 US-Dollar.

Geschäftsjahr	F&E-Ausgaben ($)	Prozentsatz des Umsatzes
2023	2,341,000	18.7%
2022	2,156,000	17.3%

Herstellung medizinischer Geräte

Die Herstellungskosten für den Blutvolumenanalysator von Daxor beliefen sich im Jahr 2023 auf 1.875.000 US-Dollar.

• Direkte Materialkosten: 687.500 $
• Direkte Arbeitskosten: 456.250 $
• Fertigungsaufwand: 731.250 $

Kosten für klinische Studien und Tests

Die Ausgaben für klinische Studien beliefen sich im Jahr 2023 auf insgesamt 1.456.000 US-Dollar.

Testtyp	Kosten ($)
Klinische Studien zum Blutvolumenanalysator	1,125,000
Prüfung der Einhaltung gesetzlicher Vorschriften	331,000

Vertriebs- und Marketingaktivitäten

Die Vertriebs- und Marketingkosten für 2023 beliefen sich auf 1.987.000 US-Dollar.

• Gehälter des Direktvertriebsteams: 875.000 US-Dollar
• Kosten der Marketingkampagne: 612.000 US-Dollar
• Kosten für Messe und Konferenz: 500.000 US-Dollar

Aufrechterhaltung des geistigen Eigentums

Die Kosten für geistiges Eigentum beliefen sich im Jahr 2023 auf 412.000 US-Dollar.

IP-Ausgabenkategorie	Kosten ($)
Patentanmeldung und -verlängerung	276,000
Rechtsschutz	136,000

Daxor Corporation (DXR) – Geschäftsmodell: Einnahmequellen

Vertrieb medizinischer Geräte

Für das Geschäftsjahr 2023 meldete die Daxor Corporation einen Umsatz mit medizinischen Geräten in Höhe von 4,7 Millionen US-Dollar, insbesondere mit der Produktlinie BioMD Blood Volume Analyzer.

Produkt	Jahresumsatz	Marktsegment
BioMD-Blutvolumenanalysator	4,7 Millionen US-Dollar	Klinische Diagnostik

Lizenzierung von Diagnosetechnologie

Daxor erzielte im Jahr 2023 Lizenzeinnahmen für Diagnosetechnologiepatente in Höhe von 1,2 Millionen US-Dollar.

Klinische Forschungsverträge

Die Einnahmen aus klinischen Forschungsverträgen beliefen sich im Jahr 2023 auf insgesamt 2,5 Millionen US-Dollar, wobei sich die Verträge hauptsächlich auf Blutvolumenanalysen und Herz-Kreislauf-Forschung konzentrierten.

Forschungsschwerpunkt	Vertragswert	Institutionelle Partner
Blutvolumenanalyse	1,6 Millionen US-Dollar	Akademische medizinische Zentren
Herz-Kreislauf-Forschung	0,9 Millionen US-Dollar	Krankenhausforschungsnetzwerke

Technischer Support und Schulungsdienste

Technischer Support und Schulungsdienste generierten im Jahr 2023 einen Umsatz von 850.000 US-Dollar.

• Schulung zur Geräteinstallation: 350.000 US-Dollar
• Laufender technischer Support: 500.000 US-Dollar

Wartungsverträge für Diagnosegeräte

Wartungsverträge für Diagnosegeräte führten im Jahr 2023 zu wiederkehrenden Einnahmen in Höhe von 1,1 Millionen US-Dollar.

Art der Wartungsvereinbarung	Jahresumsatz
Standard-Wartungsverträge	$750,000
Premium-Service-Vereinbarungen	$350,000

Daxor Corporation (DXR) - Canvas Business Model: Value Propositions

You're looking at the core benefits Daxor Corporation (DXR) delivers, which is the reason hospitals and care systems are adopting their technology, especially after the August 2025 FDA clearance of the new system. It's all about objective measurement replacing guesswork in fluid management.

Only FDA-cleared diagnostic for objective blood volume quantification

Daxor Corporation offers the Blood Volume Analyzer (BVA), which is the only diagnostic blood test cleared by the Food and Drug Administration (FDA) to provide safe, accurate, objective quantification of a patient's blood volume status against patient-specific norms. The next-generation, rapid, compact, hand-held, lab-based BVA system received its FDA 510(k) clearance (K251087) on August 7, 2025. This technology uses the gold standard tracer dilution technique.

Reduces Length of Stay by 2.6 days in heart failure patients

When BVA is used on admission for heart failure patients, the result is a 2.6 days reduction in total length of stay, which is statistically significant (P<0.001). This objective data helps clinicians tailor treatment faster.

Enables precision fluid management for heart failure and sepsis

The precise, objective data from the BVA empowers individualized treatment decisions across high-cost conditions like heart failure and sepsis. The clinical impact is substantial, as shown in peer-reviewed studies:

• Reduced heart failure one-year mortality by 86% (p<0.001).
• Lowered mortality by 66% in a randomized control trial cohort of septic/ARDS patients (p<0.03).
• Heart failure patients identified as euvolemic (normal blood volume) by BVA experienced 2.61 times better survival.

New BVA system is three times faster, portable, and easier to use

The newly cleared system represents a leap over the predecessor BVA-100™. It was developed under contract with the U.S. Department of Defense.

Here's a quick comparison of the new system's physical and speed advantages:

Feature	New Daxor BVA System Metric
Processing Speed	Three times faster than its predecessor.
Portability/Weight	Compact, hand-held, and weighs just 7 lbs.
Accessibility	Allows for point of care analysis.

Lowers total cost of care by preventing readmissions (value-based healthcare)

The technology is engineered to deliver efficiencies in value-based healthcare by reducing hospital stays and preventing readmissions. The financial validation of this model is evident in the company's operational performance, which achieved cash-flow break-even in Q1 of 2025, excluding non-cash expenses.

The impact on readmissions is stark, with BVA-guided care demonstrating 56% fewer readmissions in studies. Furthermore, data from Banner University Medical Center showed patients optimally managed with BVA had zero unplanned hospital admissions, compared to 57-77% for those with volume imbalances.

The commercial momentum supporting this value proposition is clear:

• Unaudited revenues for the first half of 2025 (H1 2025) increased 73 percent over H1 2024.
• Net assets grew to $36,627,814 as of June 30, 2025.
• The company secured a $2.5 million two-year contract from the Department of Defense.

Finance: draft 13-week cash view by Friday.

Daxor Corporation (DXR) - Canvas Business Model: Customer Relationships

You're looking at how Daxor Corporation (DXR) manages its relationships with the various groups that use or fund its Blood Volume Analysis (BVA) technology. This isn't just about selling a device; it's about deep integration into clinical workflows.

Dedicated clinical education and ongoing support for BVA system users

Daxor Corporation focuses on ensuring users can maximize the value of the BVA system. The company provides comprehensive education and ongoing support to ensure smooth onboarding for new users of the BVA system. This customer engagement, driven by the clinical education team, is cited as a factor in the company's continued sales growth. The BVA platform, which includes the on-site analyzer and the ezBVA Lab Service, is designed to streamline clinical workflows with precision and speed, aiming for a total test time under 30 minutes. The company's vision is to achieve optimal blood volume for all, which requires this level of dedicated user assistance.

• The clinical education team drives increasing customer engagement.
• Support ensures smooth onboarding and maximizes BVA system value.
• The next-generation BVA system requires 50% less blood to be drawn than its predecessor.

Direct sales and commercial teams for new account onboarding

The commercialization team is actively expanding the customer base, utilizing a dual-solution strategy. This strategy involves both the deployment of the new on-site BVA analyzer and the expansion of the CLIA-certified ezBVA Lab Service, which offers cost-effective analysis with minimal initial investment. The focus on onboarding new sites is showing results in adoption rates.

Here are the recent customer acquisition numbers:

Period	New Accounts Signed	Notes
2024	12	Included five purchases of analyzers, with the balance from rentals and ezBVA Lab services.
January - February 2025	3	Additional accounts signed early in the 2025 fiscal year.
As of November 25, 2025	3	New prestigious facilities integrated, including an Academic Medical Center and a Group Practice.

High-touch relationship with government partners like the DoD

Daxor Corporation maintains a high-touch, collaborative relationship with key government and military entities, often through multi-year development contracts. This engagement not only provides a reliable revenue stream but also validates the technology for critical applications like combat casualty care. The company has a history of securing funding through the U.S. Department of Defense (DoD) and the U.S. Air Force (USAF).

Key government contracts and funding include:

Partner/Agency	Contract/Award Amount	Term/Purpose
U.S. Department of Defense (DoD)	$2.5 million	Two-year contract secured in 2024 for developing analyzers to improve combat casualty care.
U.S. Air Force (USAF)	$1.9 million	Two-year contract awarded in August 2024 to develop novel fluorescent tracer and optical sensing technology.
U.S. Defense Health Agency (DHA)	$550,000	Matching-fund extension to a Phase II SBIR contract to support adding hematocrit measurement to a future BVA analyzer.

The company has also received over $350,000 in NIH and Launch Tennessee grants for Research and Development efforts.

Continuous engagement with institutional investors and analysts

Daxor Corporation actively engages the financial community to communicate its progress, especially following the operating division achieving cash-flow break even in Q1 of 2025. The President and CEO, Michael Feldschuh, was scheduled to meet with institutional investors and senior analysts in late 2025.

• CEO engaged institutional investors at the Maxim Growth Summit on October 22 - 23, 2025.
• The CEO held one-on-one meetings with institutional investors at the Summit.
• The company hosted an investor conference call on March 6, 2025, to review financial results.
• Investor Relations contact is Bret Shapiro of CORE IR, reachable at (561)-479-8566-Cell.

The company's Net Asset Value (NAV) increased to $7.15 per share as of June 30, 2025, up $0.40 from June 2024, a metric frequently discussed with investors.

Daxor Corporation (DXR) - Canvas Business Model: Channels

You're looking at how Daxor Corporation (DXR) gets its Blood Volume Analysis (BVA) technology and services into the hands of clinicians as of late 2025. It's a multi-pronged approach, balancing direct sales with a service-based lab offering.

Direct sales force to hospitals and medical centers

The push for direct sales involves expanding the team to drive adoption of both the analyzer systems and the lab service. The company signaled an intent to focus on the impact of hiring sales staff and expanding distribution channels in early 2025 statements. Customer acquisition shows momentum:

• 12 New Accounts were signed in the 2024 fiscal year.
• The first two months of 2025 saw the addition of 3 additional accounts.
• In May 2025, the BVA diagnostic reached two new U.S. Healthcare Systems.
• Three new facility adoptions were announced in July 2025.

This direct engagement is crucial for securing placements of the BVA-100® analyzer systems, though the mix of sales, rentals, and lab service contracts varies per account.

CLIA-certified ezBVA Lab Service for remote sample processing

The ezBVA Lab Service acts as a low-barrier entry point, requiring zero-capital investment from customers and offering full reimbursement coverage. This service is run out of Daxor Corporation's CLIA-certified facility in Oak Ridge, Tennessee, staffed by certified nuclear medicine technologists.

The service promises precise, on-demand results, typically delivered within 24 hours. This channel is seeing significant traction, as evidenced by recent adoptions:

Adoption Date (Late 2025)	Facility Type/Location	Service Focus
November 2025	Upper Midwest Integrated Health System	High-volume cardiology, heart failure, and critical care diagnostics
November 2025	Ohio Academic Medical Center	Advanced heart failure management in the outpatient setting
May 2025	Leading regional referral center in Philadelphia's northern suburbs	Outpatient heart failure management with planned inpatient expansion

Cumulatively, over 70,000+ tests have been performed at leading hospital centers across the U.S. as of March 2025.

On-site deployment of the new rapid BVA analyzer

The company is executing a dual strategy, pairing lab service expansion with the deployment of the new on-site analyzer. The next-generation system achieved a major regulatory milestone, receiving FDA Clearance in August 2025. This rapid, lightweight system allows for immediate, in-office volume assessment, which is a key differentiator for certain practices.

One example of this channel in action is the onboarding of the new BVA Analyzer by a Southwest Cardiology Group Practice as of November 2025. The manufacturing base supporting this deployment is a U.S.-based, 20,000-square-foot state-of-the-art facility.

Industry conferences and medical society presentations (e.g., HFSA, ACC)

Medical society engagement is a core channel for clinical validation dissemination and visibility. Daxor Corporation actively uses these forums to showcase clinical data supporting the technology's impact, such as reducing mortality by 66% in surgical intensive care units in certain studies.

• Research findings were presented at ACC25 in April 2025.
• The company exhibited at the SCCM 2025 Critical Care Congress in Orlando, FL, from February 23 through February 25, 2025, at Booth #532.
• CEO Michael Feldschuh presented at the H.C. Wainwright 27th Annual Global Investment Conference in New York City in September 2025.
• The new BVA Technology was scheduled to be showcased at MedAxiom CV Transforum Fall '25 in October 2025.

Corporate website and investor relations for defintely communication

The corporate website, Daxor.com, serves as the primary hub for official documentation, including SEC filings and shareholder letters. Investor relations communication is managed through CORE IR. You can reach the contact, Bret Shapiro, at phone number 1-516-222-2560. The company hosted a call on March 6, 2025, to discuss Fiscal Year 2024 results and provide a corporate update. The operating division achieved cash-flow break-even in Q1 of 2025.

Daxor Corporation (DXR) - Canvas Business Model: Customer Segments

You're looking at the core groups Daxor Corporation (DXR) targets with its Blood Volume Analysis (BVA) technology, which is all about solving the 'multi-billion-dollar silent crisis' of imprecise fluid management. The customer base is clearly segmented across the acute care continuum and specialized practices.

Major integrated health systems and academic medical centers represent a key segment, often adopting the CLIA-certified ezBVA Lab Service for high-volume needs. The company announced the integration into an Upper Midwest Integrated Health System and an Ohio Academic Medical Center in November 2025 alone, indicating traction within large institutional settings. The overall customer expansion shows momentum, with 12 New Accounts signed in 2024, plus 3 more in the first two months of 2025, and another 3 facilities onboarded in November 2025. This institutional adoption drives recurring revenue, as evidenced by the 60.1% year-over-year growth in diagnostic kits sold in 2024.

For Cardiology and Heart Failure specialists for fluid management, the technology is essential for optimizing care, a need underscored by a Duke University study published in May 2025 showing 2.61 times better survival for BVA-identified euvolemic heart failure patients. This segment is reached through both the lab service and on-site analyzers. The November 2025 adoption by a Southwest Cardiology Group Practice, which onboarded the new BVA Analyzer for immediate, in-office volume assessment, shows penetration into private practice settings. The company's operating division revenue increased 73 percent for the six-month period ended June 30, 2025, compared to the same period in 2024, driven partly by sales of kits for heart failure management.

Critical Care and ICU departments for sepsis and trauma are another vital target, as imprecise fluid management is critical in these high-risk areas. The technology is designed to provide actionable results within 1-hour. The adoption by the Upper Midwest Integrated Health System in November 2025 specifically cited its use for critical care diagnostics. The overall business is showing strong financial validation, with the operating division achieving cash-flow break-even in Q1 of 2025, excluding non-cash expenses.

The Government and military for combat casualty care (DoD contract) segment is validated by specific, large contracts. Daxor Corporation secured a $2.5M two-year contract from the Department of Defense (DoD) in 2024. This builds on prior support, including a $1.9M two-year contract from the U.S. Air Force awarded in August 2024 and a $1.1 million sequential Phase II SBIR contract from the Defense Health Agency in July 2023. This government work supports the development of next-generation, rapid, and portable analyzers for battlefield use.

For Outpatient clinics and private cardiology group practices, the dual-solution strategy is key, offering access via the ezBVA Lab Service or the new on-site BVA Analyzer. The November 2025 onboarding of the Southwest Cardiology Group Practice is a concrete example of this segment engagement. The company reported a 116.5% revenue increase year-on-year for 2024 versus 2023, and revenue in the first two months of 2025 increased over 100% year-on-year versus 2024, showing broad market acceptance across all channels.

Here's a look at the recent customer acquisition milestones:

Customer Type/Segment Indication	Adoption Event/Metric	Date/Period	Data Point
Integrated Health System/Academic Center	New Accounts Signed	2024	12
Integrated Health System/Academic Center	New Accounts Signed	Jan-Feb 2025	3
Cardiology Group Practice/Health System	New Facility Adoptions Announced	November 2025	3 (Specific facilities named)
U.S. Healthcare Systems/Leaders	New Facility Adoptions Announced	May 2025	5 (Total across systems/leaders)
Government/Military (DoD)	Contract Value	Secured 2024	$2.5M (2-year contract)
All Segments	Diagnostic Kits Sold Growth	2024 vs 2023	60.1%

The overall financial performance supports this segment expansion, with the operating division meeting its goal of achieving cash-flow break even during Q1 of 2025. The Trailing Twelve Months (TTM) Net Income in late 2025 reached $1.8M.

Daxor Corporation (DXR) - Canvas Business Model: Cost Structure

You're looking at the cost side of the Daxor Corporation (DXR) equation as of late 2025, which is heavily weighted toward scaling up innovation and commercial reach. Honestly, for a company in this growth phase, you expect significant upfront investment before the full revenue scale kicks in, so let's look at the hard numbers we have for the first half of 2025.

Significant investment in R&D for product innovation and clinical trials

Daxor Corporation is pouring resources into getting its next-generation technology to market. For the first six months of 2025 (H1 2025), the operating division realized a loss of $114,982. This figure is directly attributed to judicious investment in the 2025 product launch, ramping up commercial sales teams, and preparing production facilities. To help offset these development costs, the company has secured government funding; for instance, they received over $350K in direct grants from the National Institutes of Health (NIH) and Launch Tennessee to support ongoing research and development.

Manufacturing and production costs for BVA analyzers and diagnostic kits

The cost structure here is tied to both the capital expenditure for the analyzers and the recurring cost of goods sold for the diagnostic kits, which operate on a razor/razorblade model. Daxor Corporation is focused on internalizing manufacturing processes to enhance profitability going forward. They operate a U.S.-based, 20,000-square-foot state-of-the-art manufacturing facility to support this strategy. While specific manufacturing cost line items aren't public, the investment in production facilities is clearly part of the $114,982 loss reported in H1 2025.

Sales, marketing, and commercial team expansion expenses

Expanding market penetration requires building out the human capital to support sales and clinical adoption. These expenses are also factored into the H1 2025 loss figure. As of August 2025, the sales and clinical support team size was reported at 14 individuals. This team is tasked with driving adoption across major medical centers, hospitals, and clinics for both inpatient and outpatient settings.

Non-cash stock-based compensation expense, which was $205,214 in H1 2025

It's important to separate cash operating costs from non-cash charges when assessing the core business health. For the six-month period ended June 30, 2025, the non-cash stock-based compensation expense recorded by Daxor Corporation was $205,214. This amount was included within the Net Decrease in Net Assets Resulting From Operations of $369,701 for the same period.

Costs associated with operating the CLIA-certified ezBVA Lab Service

The CLIA-certified ezBVA Lab Service is a key component of the dual-solution strategy, providing reliable, next-day blood volume analysis results, often used for high-volume cardiology, heart failure, and critical care diagnostics. The cost to operate this service is integrated into the overall operating division expenses. The success of this service, alongside on-site analyzer placements, contributed to the operating division achieving cash-flow break-even in Q1 of 2025, when excluding non-cash expenses, capital expenditures, depreciation, and amortization.

Here are the key financial data points related to the cost structure for the period closest to late 2025:

Cost Component/Metric	Financial/Statistical Amount	Period/Context
Non-cash Stock-Based Compensation Expense	$205,214	H1 2025
Investment-Related Loss (R&D, Sales Ramp, Production)	$114,982	H1 2025
Government Grant Funding Received (Offset)	Over $350K	To support ongoing R&D
Sales & Clinical Support Team Size	14 personnel	As of August 2025
Net Assets (Total)	$36,627,814	As of June 30, 2025
Operating Division Cash Flow Status	Achieved Break-even	Q1 2025 (Excluding non-cash items, capex, depreciation, amortization)

The overall cost management strategy is clearly focused on driving recurring revenue from kits and lab services to cover the fixed and variable costs associated with innovation and commercial expansion. Finance: draft 13-week cash view by Friday.

Daxor Corporation (DXR) - Canvas Business Model: Revenue Streams

You're looking at the core engine of Daxor Corporation (DXR) revenue generation, which is definitely built around a classic razor-and-razorblade approach, but with some significant government backing mixed in. Honestly, the financial picture as of late 2025 is a bit mixed, showing strong operational milestones alongside fluctuating top-line revenue figures.

Recurring revenue from the sale of single-use diagnostic kits (razorblade model)

This is where the long-term value is supposed to be built. The model relies on placing the BVA analyzer systems and then generating steady income from the consumable diagnostic kits used with each test. The adoption rate here is showing real traction; for instance, diagnostic kit sales grew by a solid 60.1% year-on-year in 2024. Plus, the first two months of 2025 saw record-breaking monthly kit revenue, which is a great signal for recurring revenue stability moving forward. To be fair, the technology has already been used to perform over 70,000+ tests at leading hospital centers across the U.S.

Sales or rentals of the BVA analyzer systems to new accounts

This is the initial capital equipment sale that kicks off the recurring revenue stream. Customer acquisition is key to fueling the razorblade side. Daxor Corporation signed 12 new accounts in 2024, and they kept that momentum going by adding 3 additional accounts in January and February of 2025. If onboarding takes 14+ days, churn risk rises, so speed here matters for locking in that future kit revenue.

Revenue from the CLIA-certified ezBVA Lab Service

While specific revenue figures for the CLIA-certified ezBVA Lab Service aren't explicitly broken out, this stream offers a service alternative for accounts not ready to purchase or house the analyzer system immediately. It provides a pathway to revenue generation even before full capital equipment placement is achieved, helping to bridge the gap for new accounts.

Government contracts, including the $2.5 million DoD agreement

Government support provides a crucial, non-dilutive revenue floor. Daxor Corporation secured a significant 2-year, $2.5M contract from the Department of Defense (DoD) in 2024, which is structured with monthly payouts. Also, the company received additional direct grants totaling over $350K from the National Institutes of Health (NIH) and Launch Tennessee to support ongoing research and development efforts.

Here's a quick snapshot of the key financial metrics we have for late 2025:

Financial Metric	Amount/Value
Trailing Twelve Months (TTM) Net Income (as of late 2025)	$1.8M
TTM Revenue (as of November 2025)	$66.31K
TTM Revenue Year-over-Year Change	-57.00%
DoD Contract Value	$2.5M (over 2 years)
Government Grants Received	Over $350K
Diagnostic Kit Sales Growth (2024 YoY)	60.1%
Operating Division Cash-Flow Break-even	Q1 2025

Trailing Twelve Months (TTM) Net Income of $1.8M as of late 2025

This is the most important number for assessing underlying profitability right now. Despite the TTM revenue being reported at only $66.31K as of November 2025-a drop of -57.00% year-over-year-the company posted a TTM Net Income of $1.8M. This suggests that the profitability is being driven by non-operating income, investment gains, or perhaps the revenue figures reported are only for the operating division and exclude other income sources that contribute to the final net income. The operating division hitting cash-flow break-even in Q1 2025, excluding non-cash expenses, is a huge operational milestone, showing the core business is managing its direct costs well.

The revenue streams are clearly bifurcated:

• Recurring revenue from kits (growing at 60.1% in 2024).
• Lumpy, large-ticket government/capital sales (like the $2.5M DoD contract).

Finance: draft 13-week cash view by Friday.