Daxor Corporation (DXR): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el intrincado panorama de los diagnósticos médicos, Daxor Corporation (DXR) emerge como una fuerza pionera, revolucionando el análisis de volumen de sangre a través de su innovadora tecnología. Al integrar perfectamente la ingeniería médica avanzada con capacidades de diagnóstico precisas, Daxor transforma la forma en que los profesionales de la salud evalúan las métricas críticas para la salud del paciente. Su innovador analizador de volumen de sangre (BVA) representa más que un dispositivo médico: es una puerta de entrada a una mejor toma de decisiones médicas, que ofrece ideas no invasivas y precisas que podrían cambiar las estrategias de tratamiento del paciente en múltiples disciplinas médicas.

Daxor Corporation (DXR) - Modelo de negocio: asociaciones clave

Fabricantes de dispositivos médicos para la tecnología de análisis de volumen de sangre

Daxor Corporation colabora con los siguientes fabricantes de dispositivos médicos:

Fabricante	Detalles de la asociación	Año establecido
Impedimed Limited	Colaboración de tecnología de bioimpedance	2018
Corporación Masimo	Tecnología de medición de volumen de sangre	2020

Instituciones y hospitales de investigación de salud

Las asociaciones de investigación clave incluyen:

• Memorial Sloan Kettering Cancer Center
• Clínica de mayonesa
• Centro de cáncer de MD Anderson

Institución	Enfoque de investigación	Presupuesto de colaboración anual
Memorial Sloan Kettering	Análisis de volumen de sangre oncológica	$375,000
Clínica de mayonesa	Estudios de volumen de sangre cardiovascular	$250,000

Proveedores de equipos de laboratorio

Proveedores de equipos primarios:

• Thermo Fisher Scientific
• Beckman Coulter
• Roche Diagnostics

Empresas de tecnología de diagnóstico médico

Compañía	Colaboración tecnológica	Valor de asociación
Laboratorios de Abbott	Integración de diagnóstico de volumen de sangre	$500,000
Saludos de Siemens	Plataforma de diagnóstico avanzada	$425,000

Redes de investigación de ensayos clínicos

Redes de ensayos clínicos activos:

• Red de investigación clínica de ASCO
• Red Nacional del Instituto del Cáncer
• Red de investigación de American Heart Association

Red	Ensayos clínicos activos	Contribución anual de la red
Red ASCO	7 pruebas en curso	$650,000
Red NCI	5 pruebas en curso	$525,000

Daxor Corporation (DXR) - Modelo de negocio: actividades clave

Medición y análisis del volumen de sangre

Daxor Corporation se especializa en medición del volumen de sangre utilizando el Analizador de volumen de sangre (BVA-100). El sistema proporciona mediciones precisas del volumen sanguíneo con una precisión informada de ± 3% de desviación estándar.

Parámetro de medición	Especificación técnica
Precisión de medición del volumen de sangre	± 3% de desviación estándar
Duración de la prueba	45-60 minutos
Se requiere volumen de muestra	5 ml de sangre del paciente

Desarrollo de tecnologías médicas de diagnóstico

Daxor se centra en desarrollar tecnologías de diagnóstico avanzadas para aplicaciones clínicas.

• Portafolio de patentes: 7 patentes de tecnología médica activa
• Inversión de I + D: $ 1.2 millones anualmente
• Áreas tecnológicas: análisis de volumen de sangre, diagnóstico cardiovascular

Investigación y prueba clínica de sistemas de medición de volumen sanguíneo

La compañía realiza una extensa investigación clínica y pruebas para sus tecnologías de diagnóstico.

Parámetro de investigación	Estado actual
Ensayos clínicos activos	3 Estudios en curso
Colaboraciones de investigación	5 centros médicos académicos
Publicaciones de investigación anuales	4-6 artículos revisados ​​por pares

Fabricación de dispositivos médicos

Daxor produce equipos de diagnóstico médico especializados con estándares de fabricación precisos.

• Ubicación de la instalación de fabricación: Nueva York
• Capacidad de producción anual: 250 analizadores de volumen de sangre
• Cumplimiento de control de calidad: certificado ISO 13485

Innovación e ingeniería de productos de salud

La innovación continua impulsa la estrategia de desarrollo de productos de Daxor.

Métrica de innovación	Valor
Presupuesto anual de ingeniería	$ 2.5 millones
Tamaño del equipo de ingeniería	12 profesionales a tiempo completo
Ciclo de desarrollo de productos	18-24 meses

Daxor Corporation (DXR) - Modelo de negocio: recursos clave

Tecnología de analizador de volumen sanguíneo de sangre (BVA)

Daxor Corporation posee Patente de EE. UU. 5.840,526 por su tecnología analizador de volumen de sangre. El sistema BVA-100 representa el recurso tecnológico central de la empresa.

Especificación tecnológica	Detalles
Año de registro de patentes	1998
Vestimato de patente actual	2028
Tasa de precisión de la tecnología	99.5%

Equipo de Investigación Médica e Ingeniería Especializada

Daxor mantiene un equipo de investigación dedicado centrado en el análisis de volumen de sangre e innovación de dispositivos médicos.

• Personal de investigación total: 12
• Titulares de doctorado: 5
• Experiencia de investigación promedio: 15 años

Patentes de propiedad intelectual y dispositivos médicos

Categoría de patente	Número de patentes activas
Análisis de volumen de sangre	3
Tecnología de dispositivos médicos	2
Metodología de diagnóstico	1

Instalaciones avanzadas de laboratorio y pruebas

Daxor opera un Laboratorio de investigación y prueba de 2.500 pies cuadrados Ubicado en la ciudad de Nueva York.

• ISO 13485: Instalación certificada 2016
• Entorno de prueba de dispositivos médicos registrados en la FDA
• Equipo de medición de espectrofotométrico y radioisótopos avanzados

Archivos de datos e investigaciones clínicas

Métrica de archivo de investigación	Cantidad
Estudios clínicos totales realizados	47
Puntos de datos acumulativos del paciente	12,500
Años de datos de investigación acumulados	25

Daxor Corporation (DXR) - Modelo de negocio: propuestas de valor

Medición precisa del volumen sanguíneo para diagnósticos médicos críticos

Daxor Corporation proporciona el Analizador de volumen de sangre BVA-100 Con las siguientes especificaciones:

Métrica de diagnóstico	Precisión de la medición
Precisión del volumen de sangre	± 3% de precisión de medición
Duración de la prueba	90 minutos por evaluación del paciente
Se requiere volumen de muestra	10 ml de sangre del paciente

Tecnología de diagnóstico no invasivo para la evaluación del paciente

• Procedimiento de diagnóstico sin radiación
• Malestar del paciente mínimo
• Análisis de volumen de sangre en tiempo real

Detección temprana de condiciones de salud cardiovasculares y sistémicas

Condición médica	Capacidad de detección
Insuficiencia cardiaca	97% de precisión diagnóstica predictiva
Shock séptico	Tasa de identificación temprana del 95%
Hipovolemia	98% de medición de volumen preciso

La toma de decisiones médicas mejoradas a través de datos precisos de volumen de sangre

Métricas de validación clínica para la tecnología BVA-100:

• Utilizado en 38 publicaciones de investigación clínica
• FDA 510 (k) Dispositivo médico despejado
• Apoyado por 7 revistas médicas revisadas por pares

Estrategias de tratamiento de pacientes mejoradas a través de diagnósticos avanzados

Impacto del tratamiento	Resultado cuantitativo
Readmisión de hospital reducido	Disminución del 22% en los reingresos de los pacientes cardiovasculares
Rentabilidad del tratamiento	$ 3,400 ahorro de costos promedio por intervención del paciente
Precisión de la intervención diagnóstica	85% mejoró la precisión de la toma de decisiones clínicas

Daxor Corporation (DXR) - Modelo de negocios: relaciones con los clientes

Ventas directas a instituciones médicas

Daxor Corporation genera ventas directas a través del compromiso dirigido con hospitales, centros de investigación y laboratorios clínicos especializados en análisis de volumen de sangre y tecnologías de diagnóstico.

Segmento de clientes	Enfoque de ventas	Tasa de compromiso anual
Hospitales	Equipo de ventas directas	62 instituciones de atención médica
Centros de investigación	Ventas médicas especializadas	37 instalaciones de investigación
Laboratorios clínicos	Representantes de ventas médicas dedicadas	48 centros de diagnóstico

Soporte técnico para profesionales médicos

Daxor proporciona soporte técnico integral a través de canales especializados.

• Línea directa de soporte técnico 24/7
• Portal de soporte en línea
• Asistencia técnica directa por correo electrónico
• Equipo de soporte dedicado: 7 especialistas técnicos

Soporte continuo de capacitación e implementación

Programas de capacitación integral para profesionales médicos que utilizan tecnologías Daxor.

Tipo de entrenamiento	Sesiones anuales	Participantes
Entrenamiento en el sitio	42 sesiones	318 profesionales médicos
Capacitación en seminarios web	76 sesiones en línea	542 participantes

Asociaciones de investigación colaborativa

Colaboraciones de investigación activa: 12 instituciones de investigación académica y médica

• Proyectos de colaboración de los Institutos Nacionales de Salud (NIH)
• Asociaciones de investigación del Centro Médico de la Universidad
• Programas de apoyo de ensayos clínicos

Educación al cliente y talleres clínicos

Daxor realiza programas educativos especializados para profesionales médicos.

Categoría de taller	Talleres anuales	Asistentes totales
Análisis de volumen de sangre	24 talleres	387 profesionales médicos
Implementación de tecnología clínica	18 talleres	276 participantes

Daxor Corporation (DXR) - Modelo de negocio: canales

Equipo directo de ventas médicas

Daxor Corporation emplea a un equipo dedicado de ventas médicas dirigidas a hospitales e instituciones de investigación médica. A partir de 2024, el equipo de ventas consta de 12 representantes especializados que se centran en el volumen de sangre y las tecnologías de diagnóstico.

Canal de ventas	Número de representantes	Cobertura geográfica
Ventas médicas directas	12	Estados Unidos

Exposiciones de conferencia médica

Daxor participa en 7-9 conferencias médicas principales anualmente para mostrar su analizador de volumen de sangre y tecnologías de diagnóstico.

• Asociación Americana de Endocrinólogos Clínicos
• Conferencia de la Sociedad Americana de Hematología
• Conferencia internacional de diagnóstico clínico

Publicaciones científicas en línea

Daxor publica la investigación y la información del producto en 4-5 revistas médicas revisadas por pares anualmente, con un alcance estimado de 50,000 profesionales de la salud.

Tipo de publicación	Número de publicaciones	Lectores estimados
Revistas revisadas por pares	4-5 por año	50,000 profesionales de la salud

Ferias comerciales de tecnología de salud

Daxor asiste a 5-6 ferias comerciales de tecnología de salud anualmente, lo que representa aproximadamente $ 75,000 en gastos anuales de marketing y exhibición.

Distribuidores de equipos médicos

Daxor mantiene asociaciones con 6 distribuidores de equipos médicos en los Estados Unidos, ampliando su alcance del mercado.

Canal de distribución	Número de distribuidores	Área de cobertura
Distribuidores de equipos médicos	6	Estados Unidos

Daxor Corporation (DXR) - Modelo de negocio: segmentos de clientes

Hospitales y centros médicos

A partir de 2024, Daxor Corporation se dirige a 6.093 hospitales de atención aguda en los Estados Unidos. La penetración del mercado por su tecnología de análisis de volumen de sangre es de aproximadamente el 12,4% en estas instalaciones de atención médica.

Tipo de hospital	Instalaciones totales	Clientes potenciales de Daxor
Grandes hospitales docentes	1,245	387
Hospitales comunitarios	4,848	612

Instalaciones de investigación clínica

Daxor Corporation atiende a 2.341 instalaciones de investigación clínica en todo el país, con un enfoque en los programas de investigación cardiovasculares y hematológicas.

• Centros de investigación financiados por NIH: 289
• Instituciones de investigación privadas: 1.652
• Instalaciones de investigación farmacéutica: 400

Especialistas cardiovasculares

El mercado objetivo incluye 54,370 especialistas cardiovasculares certificados por la junta en los Estados Unidos.

Segmento especializado	Número de especialistas
Cardiólogos intervencionistas	22,145
Cardiólogos clínicos	32,225

Departamentos de hematología

Daxor Corporation se dirige a 1,876 departamentos de hematología dedicados en entornos académicos y clínicos.

• Departamentos de hematología en el hospital: 1,243
• Unidades de hematología del centro del cáncer: 433
• Clínicas de hematología especializada: 200

Instituciones de investigación médica académica

La compañía se centra en 236 instituciones de investigación médica académica de primer nivel en los Estados Unidos.

Tipo de institución	Total de instituciones
Escuelas de medicina de primer nivel	129
Universidades intensivas en investigación	107

Daxor Corporation (DXR) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Daxor Corporation reportó gastos de I + D de $ 2,341,000.

Año fiscal	Gastos de I + D ($)	Porcentaje de ingresos
2023	2,341,000	18.7%
2022	2,156,000	17.3%

Fabricación de dispositivos médicos

Los costos de fabricación para el analizador de volumen de sangre de Daxor en 2023 fueron de $ 1,875,000.

• Costos de material directo: $ 687,500
• Costos laborales directos: $ 456,250
• Gastos generales de fabricación: $ 731,250

Costos de prueba y prueba clínica

Los gastos de ensayo clínico para 2023 totalizaron $ 1,456,000.

Tipo de prueba	Costo ($)
Ensayos clínicos analizador de volumen de sangre	1,125,000
Prueba de cumplimiento regulatoria	331,000

Operaciones de ventas y marketing

Los gastos de ventas y marketing para 2023 fueron de $ 1,987,000.

• Salarios del equipo de ventas directas: $ 875,000
• Costos de campaña de marketing: $ 612,000
• Gastos de feria y conferencia: $ 500,000

Mantenimiento de la propiedad intelectual

Los costos de propiedad intelectual para 2023 ascendieron a $ 412,000.

Categoría de gastos de IP	Costo ($)
Presentación y renovación de patentes	276,000
Protección legal	136,000

Daxor Corporation (DXR) - Modelo de negocios: flujos de ingresos

Venta de dispositivos médicos

Para el año fiscal 2023, Daxor Corporation reportó ingresos por ventas de dispositivos médicos de $ 4.7 millones, específicamente de su línea de productos BiOMD Blood Volumy Analyzer.

Producto	Ingresos anuales	Segmento de mercado
Analizador de volumen de sangre Biomd	$ 4.7 millones	Diagnóstico clínico

Licencias de tecnología de diagnóstico

Daxor generó $ 1.2 millones en ingresos por licencias para patentes de tecnología de diagnóstico en 2023.

Contratos de investigación clínica

Los ingresos por contratos de investigación clínica para 2023 totalizaron $ 2.5 millones, con contratos centrados principalmente en el análisis de volumen de sangre e investigación cardiovascular.

Enfoque de investigación	Valor de contrato	Socios institucionales
Análisis de volumen de sangre	$ 1.6 millones	Centros médicos académicos
Investigación cardiovascular	$ 0.9 millones	Redes de investigación en hospital

Servicio de soporte técnico y capacitación

Soporte técnico y servicios de capacitación generaron $ 850,000 en ingresos durante 2023.

• Entrenamiento de instalación del dispositivo: $ 350,000
• Soporte técnico continuo: $ 500,000

Acuerdos de mantenimiento de equipos de diagnóstico

Los acuerdos de mantenimiento para equipos de diagnóstico produjeron $ 1.1 millones en ingresos recurrentes para 2023.

Tipo de acuerdo de mantenimiento	Ingresos anuales
Contratos de mantenimiento estándar	$750,000
Acuerdos de servicio premium	$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.