Kewaunee Scientific Corporation (KEQU): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde complexe de l'équipement de laboratoire scientifique, Kewaunee Scientific Corporation (KEQU) est une force pionnière, transformant des solutions d'espace de travail avec son approche innovante de la conception de meubles de laboratoire. En élaborant méticuleusement des environnements personnalisables et hautes performances pour les institutions de recherche, les établissements de santé et les laboratoires industriels, Kewaunee a développé un modèle commercial robuste qui va au-delà de la simple fabrication de produits - il offre des écosystèmes d'espace de travail scientifiques complets qui répondent aux normes techniques et de sécurité les plus exigeantes.

Kewaunee Scientific Corporation (KEQU) - Modèle commercial: partenariats clés

Fabricants et fournisseurs de meubles de laboratoire

Kewaunee Scientific Corporation entretient des partenariats stratégiques avec des fabricants et des fournisseurs de meubles de laboratoire spécialisés pour soutenir ses principales opérations commerciales.

Catégorie de partenaire	Nombre de partenariats actifs	Valeur d'achat annuelle
Fournisseurs en acier inoxydable	7	3,2 millions de dollars
Fournisseurs de matériaux stratifiés	4	1,8 million de dollars
Fabricants de matériel spécialisés	5	1,5 million de dollars

Distributeurs institutionnels de soins de santé et d'éducation

La société collabore avec plusieurs réseaux de distribution dans différents secteurs.

• Distributeurs d'établissements de recherche universitaire: 12 partenaires stratégiques
• Distributeurs du centre de recherche d'hôpital et médical: 9 partenariats clés
• Distributeurs du gouvernement de recherche: 6 canaux établis

Canal de distribution	Volume des ventes annuelles	Couverture géographique
Distributeurs de soins de santé	22,4 millions de dollars	Amérique du Nord
Distributeurs éducatifs	15,6 millions de dollars	États-Unis

Partenaires d'équipement de recherche et de développement

Kewaunee Scientific maintient des collaborations techniques avec les fabricants d'équipements avancés.

• Partners d'équipement de mesure de précision: 3 collaborations actives
• Fournisseurs d'équipement de test avancé: 4 relations stratégiques

Type de partenariat R&D	Montant d'investissement	Durée du partenariat
Collaboration technique	$750,000	3-5 ans

Collaborateurs mondiaux de fabrication et de logistique

La société tire parti des partenariats internationaux de fabrication et de logistique.

Région partenaire	Capacité de fabrication	Coût de la logistique annuelle
Fabricants nord-américains	85% de la production totale	4,3 millions de dollars
Partenaires logistiques internationaux	15% de capacité supplémentaire	1,2 million de dollars

Kewaunee Scientific Corporation (KEQU) - Modèle d'entreprise: Activités clés

Conception et fabrication de meubles de laboratoire spécialisés

Capacité de fabrication annuelle: 40 000 pieds carrés de meubles de laboratoire

Catégorie de produits	Volume de production annuel
Cagoules de fumée	1 200 unités
Cas modulaire	850 pieds linéaires
Armoires de sécurité biologique	500 unités

Ingénierie personnalisée des solutions d'espace de travail scientifique

Composition de l'équipe d'ingénierie: 35 ingénieurs spécialisés

• Spécialistes de la conception CAO: 12
• Ingénieurs mécaniques: 8
• Designers d'espace de travail ergonomique: 7
• Experts en science du matériel: 8

Contrôle de la qualité et tests de produits

Métrique de qualité	Norme de performance
Taux de défaut du produit	Moins de 0,5%
Test des heures par produit	24 heures
Certifications de conformité	ISO 9001: 2015, NSF / ANSI 49

Ventes et commercialisation d'équipements scientifiques

Revenus de ventes annuels: 85,3 millions de dollars (2023 Exercice)

• Équipe de vente directe: 22 représentants
• Couverture du marché géographique: États-Unis, Canada
• Segments de clientèle principaux: institutions de recherche, sociétés pharmaceutiques, universités

Innovation et développement des produits continus

Investissement annuel de R&D: 2,4 millions de dollars

Domaine de mise au point de l'innovation	Présentation annuelle de produits de nouveaux produits
Systèmes de laboratoire modulaires	3-4 nouveaux designs
Matériaux durables	2 nouvelles implémentations matérielles
Intégration numérique	1-2 Smart Laboratory Solutions

Kewaunee Scientific Corporation (KEQU) - Modèle d'entreprise: Ressources clés

Installations de fabrication avancées

Kewaunee Scientific Corporation exploite des installations de fabrication avec les spécifications suivantes:

Emplacement	Type d'installation	En pieds carrés
Statesville, Caroline du Nord	Usine de fabrication primaire	135 000 pieds carrés

Expertise en génie technique

Composition de la main-d'œuvre d'ingénierie:

• Personnel d'ingénierie total: 42 employés
• Expérience d'ingénierie moyenne: 15,3 ans
• Départements d'ingénierie: conception, R&D, développement de produits

Capacités de conception propriétaires

Catégorie de conception	Nombre de modèles enregistrés
Meubles de laboratoire	37 brevets de conception uniques
Configurations d'équipements scientifiques	24 inscriptions de conception propriétaires

Portefeuille de propriété intellectuelle

Détails de la propriété intellectuelle:

• Brevets actifs totaux: 12
• Catégories de brevets: processus de fabrication, conception d'équipement
• Régions de protection des brevets: États-Unis, Canada

Main-d'œuvre qualifiée

Catégorie des employés	Total des employés	Formation spécialisée
Personnel de fabrication	185	Certification de fabrication d'équipements scientifiques
Personnel de soutien technique	37	Formation technique avancée

Kewaunee Scientific Corporation (Kequ) - Modèle d'entreprise: propositions de valeur

Solutions de meubles de laboratoire de haute qualité et durables

Kewaunee Scientific Corporation a déclaré 76,5 millions de dollars de revenus totaux pour l'exercice 2023. La société est spécialisée dans la fabrication de meubles de laboratoire en mettant l'accent sur la durabilité et la précision.

Catégorie de produits	Contribution des revenus	Part de marché
Meubles de laboratoire	58,2 millions de dollars	76.2%
Équipement spécialisé	18,3 millions de dollars	23.8%

Conceptions d'espace de travail personnalisables pour des environnements scientifiques

La société propose Systèmes de meubles de laboratoire modulaires avec des options de configuration personnalisées.

• Options de conception personnalisées disponibles pour 92% des gammes de produits
• Délai de plomb de personnalisation moyenne: 4-6 semaines
• Taux de satisfaction client pour les solutions personnalisées: 94%

Conformité aux normes strictes de la sécurité et des performances de l'industrie

Kewaunee Scientific maintient des certifications de plusieurs organisations de normes internationales.

Certification	Niveau de conformité	Année réalisée
ISO 9001: 2015	Compliance complète	2019
NSF / ANSI Standard 49	Compliance complète	2020

Équipement de laboratoire ergonomique et fonctionnel innovant

L'investissement dans la recherche et le développement pour 2023 était de 3,2 millions de dollars, ce qui représente 4,2% des revenus totaux.

• 3 nouveaux conceptions de produits lancés en 2023
• Portefeuille de brevets: 12 brevets actifs
• Taille de l'équipe R&D: 22 ingénieurs et concepteurs

Support complet et consultation technique

Kewaunee Scientific fournit de vastes services de support client.

Service d'assistance	Couverture	Temps de réponse
Consultation technique	Mondial	24-48 heures
Soutien à la garantie	Limited à 5 ans	Traitement immédiat

Kewaunee Scientific Corporation (KEQU) - Modèle d'entreprise: relations clients

Engagement de l'équipe de vente directe

En 2023, Kewaunee Scientific Corporation maintient une équipe de vente directe spécialisée axée sur les marchés des équipements scientifiques et de soins de santé. L'équipe commerciale couvre plusieurs régions géographiques, notamment l'Amérique du Nord.

Région de vente	Nombre de représentants commerciaux	Segments de marché cibles
Amérique du Nord	12	Laboratoires de recherche, institutions de soins de santé
Marchés internationaux	5	Institutions universitaires, sociétés pharmaceutiques

Services de support technique et de consultation

Kewaunee fournit un support technique via des canaux dédiés:

• Hotline de support technique 24/7
• Portail d'assistance en ligne
• Consultation technique sur place

Relations avec les clients institutionnels à long terme

La société entretient des relations à long terme avec des clients institutionnels clés, avec une période de conservation moyenne de 7 à 10 ans.

Type de client	Durée du contrat moyen	Répéter le taux d'entreprise
Universités de recherche	8 ans	72%
Laboratoires du gouvernement	9 ans	68%

Développement de produits personnalisés

Kewaunee Scientific propose des solutions sur mesure pour les exigences spécialisées des clients:

• Conception de laboratoire personnalisée
• Fabrication d'équipement spécialisée
• Plates-formes de produits configurables

Entretien et soutien après la vente

Le soutien complet après la vente comprend:

Type de service	Période de couverture	Temps de réponse
Garantie standard	2 ans	48 heures
Contrat de maintenance prolongé	Jusqu'à 5 ans	24 heures

Investissement annuel total du support client: 1,2 million de dollars

Kewaunee Scientific Corporation (Kequ) - Modèle d'entreprise: canaux

Force de vente directe

En 2024, Kewaunee Scientific Corporation maintient une équipe de vente interne axée sur les marchés des équipements scientifiques et de laboratoire. La force de vente directe couvre les régions géographiques spécifiques et les principaux marchés institutionnels.

Métriques du canal de vente	2024 données
Nombre de représentants des ventes directes	12-15 personnel
Couverture géographique	États-Unis et sélectionner les marchés internationaux
Cycle de vente moyen	4 à 6 mois pour les clients institutionnels

Catalogue et site Web de produits en ligne

Kewaunee Scientific utilise des plateformes numériques pour l'information sur les produits et l'engagement des ventes.

• Site Web: www.kewaunelab.com
• Catalogue de produits en ligne avec des spécifications détaillées
• Système numérique de la demande de devis (RFQ)

Les salons des équipements scientifiques montrent

L'entreprise participe à des expositions commerciales spécifiques à l'industrie pour présenter des produits et engager des clients potentiels.

Participation des salons commerciaux	2024 Détails
Les salons commerciaux annuels sont présents	3-4 événements majeurs
Emplacements de l'exposition clé	Chicago, Boston, San Francisco

Réseaux de distributeurs

Kewaunee Scientific exploite les partenariats stratégiques avec les distributeurs d'équipements de laboratoire.

• Environ 8 à 10 partenaires de distribution active
• Couverture dans les secteurs académique, de recherche et de santé
• Distribution internationale sur certains marchés

Plateformes de marketing spécifiques à l'industrie

L'entreprise utilise des stratégies de marketing ciblées sur des canaux d'équipement scientifiques spécialisés.

Canal de marketing	2024 Engagement
Publicité des journaux scientifiques	4-6 publications par an
Dépenses de marketing numérique	75 000 $ à 100 000 $ par an
Webinaires spécifiques à l'industrie	2-3 Événements organisés par an

Kewaunee Scientific Corporation (KEQU) - Modèle d'entreprise: segments de clientèle

RECHERCHE Universités et institutions universitaires

Kewaunee Scientific Corporation dessert 327 établissements de recherche universitaires à travers l'Amérique du Nord à partir de 2023. Le portefeuille de meubles et d'équipements de laboratoire de la société cible des installations de recherche spécialisées.

Segment de clientèle	Nombre d'institutions	Dépenses annuelles
Universités de recherche	187	42,6 millions de dollars
Centres de recherche universitaires	140	28,3 millions de dollars

Établissements de santé et de recherche médicale

La société fournit des solutions de laboratoire spécialisées à 214 installations de recherche médicale à l'échelle nationale.

• Centres de recherche hospitaliers: 89 installations
• Institutions de recherche médicale privées: 125 installations

Laboratoires pharmaceutiques

Kewaunee Scientific soutient 76 laboratoires de recherche pharmaceutique avec des solutions d'infrastructure de laboratoire personnalisées.

Segment pharmaceutique	Nombre de clients	Valeur du contrat moyen
Grandes sociétés pharmaceutiques	28	1,2 million de dollars
Laboratoires pharmaceutiques de taille moyenne	48	$650,000

Centres de recherche gouvernementaux

La société dessert 43 centres de recherche affiliés au gouvernement aux niveaux fédéral et étatique.

• Installations de recherche fédérales: 22
• Centres de recherche de l'État: 21

Départements de recherche et développement industriels

Kewaunee Scientific soutient 95 départements de R&D industriels avec des équipements et meubles de laboratoire spécialisés.

Secteur de l'industrie	Nombre de départements de R&D	Investissement annuel
Technologie	38	22,7 millions de dollars
Fabrication	35	18,5 millions de dollars
Énergie	22	12,3 millions de dollars

Kewaunee Scientific Corporation (KEQU) - Modèle d'entreprise: Structure des coûts

Frais de fabrication et de production

Pour l'exercice 2023, Kewaunee Scientific Corporation a déclaré des coûts de fabrication totaux de 44,3 millions de dollars. La rupture des dépenses de production comprend:

Catégorie de dépenses	Montant ($)
Coûts de main-d'œuvre directes	12,650,000
Frais de matières premières	18,750,000
Fabrication des frais généraux	12,900,000

Investissements de recherche et développement

Les dépenses de la R&D pour la société en 2023 ont totalisé 2,1 millions de dollars, ce qui représente 3,2% des revenus totaux.

• Investissements en développement de produits: 1,4 million de dollars
• Innovation technologique: 700 000 $

Dépenses de vente et de marketing

Les coûts de vente et de marketing pour 2023 étaient de 5,6 millions de dollars, ce qui représente 8,5% du total des revenus de l'entreprise.

Catégorie de dépenses de marketing	Montant ($)
Compensation du personnel des ventes	2,800,000
Publicité et promotion	1,250,000
Défairs commerciaux et dépenses d'événements	850,000
Marketing numérique	700,000

Frais généraux opérationnels

Les frais généraux opérationnels totaux pour 2023 étaient de 7,3 millions de dollars, notamment:

• Salaires administratifs: 3 650 000 $
• Entretien des installations: 1 450 000 $
• Coûts d'assurance et de conformité: 1 200 000 $
• Utilitaires et infrastructures: 1 000 000 $

Gestion de la chaîne d'approvisionnement et de la logistique

Les dépenses de chaîne d'approvisionnement et de logistique pour 2023 s'élevaient à 3,2 millions de dollars.

Catégorie de dépenses logistiques	Montant ($)
Transport et expédition	1,800,000
Gestion des stocks	850,000
Entrepôts	550,000

Kewaunee Scientific Corporation (KEQU) - Modèle d'entreprise: sources de revenus

Ventes de meubles de laboratoire

Pour l'exercice 2023, Kewaunee Scientific Corporation a rapporté 70,8 millions de dollars Dans le total des ventes nettes, les meubles de laboratoire représentant la principale source de revenus.

Catégorie de produits	Revenus ($)	Pourcentage des ventes totales
Systèmes de travail et de meubles	52,6 millions de dollars	74.3%
Cagoules de fumée	12,4 millions de dollars	17.5%
Autres équipements de laboratoire	5,8 millions de dollars	8.2%

Services de conception et d'ingénierie personnalisés

Les services de conception personnalisés ont généré approximativement 3,2 millions de dollars dans des revenus supplémentaires pour l'entreprise en 2023.

Revenus de partie d'entretien et de remplacement

Les pièces de remplacement et les services de maintenance sont comptabilisés 4,5 millions de dollars en revenus annuels.

Frais d'installation et de consultation

Les services d'installation et de consultation ont contribué 2,1 millions de dollars aux sources de revenus de l'entreprise.

Ventes d'expansion du marché international

Région géographique	Ventes internationales ($)	Pourcentage des ventes totales
Amérique du Nord	58,6 millions de dollars	82.8%
Marchés internationaux	12,2 millions de dollars	17.2%

Les principaux marchés internationaux comprennent:

• Europe
• Asie-Pacifique
• Moyen-Orient

Kewaunee Scientific Corporation (KEQU) - Canvas Business Model: Value Propositions

Kewaunee Scientific Corporation delivers comprehensive, turn-key lab solutions from bench to biosafety, a capability significantly bolstered by the November 1, 2024, acquisition of Nu Aire for a base of $55 million, subject to adjustments. This integration is key to offering end-to-end environments for scientific discovery.

The core value rests on high-quality, specialized, and durable laboratory furniture and technical products. Kewaunee Scientific Corporation has been recognized as a global leader in the design, manufacture, and installation of these products since its founding in 1906. You see the strength of this execution in the financial results; for the fiscal year ended April 30, 2025, the company posted total sales of $240.5 million.

The expertise in advanced lab environment design is backed by a long history; Kewaunee Scientific Corporation was founded in 1906. This deep experience supports a global footprint, with manufacturing facilities in Statesville, North Carolina, and Bangalore, India, serving domestic and international markets. As of April 30, 2025, the company employed 793 Domestic employees (including Nu Aire) and 446 International employees.

The product range for controlled environments is now expanded, creating a more robust, diversified offering. This combination allows Kewaunee Scientific Corporation to better meet diverse end-user needs. The combined portfolio now includes:

• Steel and wood casework
• Fume hoods
• Adaptable modular systems
• Moveable workstations
• Stand-alone benches
• Epoxy resin work surfaces and sinks

The addition of Nu Aire specifically brought in critical biocontainment and controlled environment equipment. Here's a quick look at how the product sets complement each other:

Kewaunee Core Products	Nu Aire Added Products
Fume Hoods	Biological Safety Cabinets
Steel and Wood Casework	CO2 Incubators
Moveable Workstations	Ultralow Freezers
Laboratory Furniture Systems	Pharmacy Compounding Isolators

The market demand for this comprehensive offering is reflected in the order book. At the end of the first quarter of fiscal year 2026 (July 31, 2025), the order backlog stood at $205.0 million, up from $155.6 million at the same point last year (April 30, 2024). The Domestic segment, which now includes Nu Aire, showed strong growth, with Q1 FY2026 sales reaching $54,352,000, a 53.0% increase year-over-year.

The value proposition is also supported by financial momentum; for Q1 FY2026, Kewaunee Scientific Corporation reported sales of $71,104,000, a 46.9% increase over the prior year's quarter.

Kewaunee Scientific Corporation (KEQU) - Canvas Business Model: Customer Relationships

You're looking at how Kewaunee Scientific Corporation builds and keeps its customer base, which is critical given the long sales cycles for lab and technical installations. The relationships here aren't transactional; they are deep and project-focused.

Project-based, consultative sales approach for complex installations

Kewaunee Scientific Corporation deals in highly specialized environments, meaning the sales process requires a consultative touch. This is evident in the sheer size of their commitments, which translate into a substantial order backlog. For instance, the order backlog stood at a robust $214.6 million as of April 30, 2025, and remained strong at $205.0 million on July 31, 2025. This volume suggests deep engagement on projects that take time to plan and execute. The company's reliance on construction schedules is clear, as customer construction site delays, particularly in India, have previously impacted sales delivery timing. This dependency underscores the need for close, consultative work with clients to manage project timelines effectively.

The company's strategy involves strengthening its network, as the CEO noted a focus on strengthening dealer and distribution relationships, which are key drivers for performance improvement.

Dedicated after-sales support and service for technical equipment

The products Kewaunee Scientific Corporation sells-fume hoods, biological safety cabinets, and technical furniture-require ongoing operational support. While specific service revenue isn't broken out, the nature of the equipment implies a need for dedicated support. The strategic acquisition of Nu Aire, Inc. on November 1, 2024, which is renowned for containment solutions like biological safety cabinets, further embeds Kewaunee Scientific Corporation into the long-term maintenance and upgrade cycle of these critical laboratory assets. This integration expands the portfolio that requires support, deepening the post-sale relationship.

The relationship extends through the entire lifecycle of the laboratory space. Here's a look at the scale of the business supporting these relationships:

Metric	Value (as of latest report)	Date/Period
Total FY2025 Sales	$240.5 million	Fiscal Year Ended April 30, 2025
Q1 FY2026 Sales	$71.104 million	Quarter Ended July 31, 2025
Order Backlog	$205.0 million	July 31, 2025
Domestic Segment FY2025 Sales	$179.4 million	Fiscal Year 2025
International Segment FY2025 Sales	$61.1 million	Fiscal Year 2025

Focus on earning customer trust and being easy to do business with

The CEO has explicitly mentioned that the market success is a testament to the high degree of trust end-use customers place in Kewaunee Scientific Corporation's products and services. Earning this trust is tied directly to execution, especially given the complexity of the installations. The company's strategy involves investments in its product portfolio and manufacturing assets to drive performance improvement, which directly impacts customer satisfaction and ease of doing business.

The company recognizes the risk associated with key accounts; sales to two domestic dealers and one national stocking distributor accounted for 42% of fiscal year 2024 sales, highlighting the importance of maintaining strong relationships with these primary channels.

Long-term relationships with key customers in well-funded industries

Kewaunee Scientific Corporation serves markets that require consistent, high-quality infrastructure, suggesting long-term customer relationships are the norm. The company's products furnish spaces across several well-funded sectors.

The key customer industries include:

• Life sciences
• Healthcare
• Education
• Government research
• Petrochemical
• Industrial

The Domestic Segment, which saw sales rise 53.0% year-over-year in Q1 FY2026, is clearly the primary engine for these relationships. The International Segment, despite growth of 30.2% in Q1 FY2026, has faced headwinds from site delays, showing that relationship management across different geographies presents varied challenges.

The focus is on sustained demand, as the backlog strength demonstrates continued vitality and investment in these sectors. Finance: draft 13-week cash view by Friday.

Kewaunee Scientific Corporation (KEQU) - Canvas Business Model: Channels

You're looking at how Kewaunee Scientific Corporation moves its products and services to the end user, which is a mix of direct presence and heavy reliance on partners. Honestly, their channel strategy is built around a global footprint supported by local expertise.

Network of worldwide sales partners, dealers, and distributors

Kewaunee Scientific Corporation relies heavily on its channel partners, calling it an 'UNPARALLED GLOBAL DEALER NETWORK' with exclusive relationships with exceptional dealer partners. These partners are key because they bring the necessary extensive knowledge of their local markets to the table. This structure is explicitly mentioned as a testament to their performance, with the CEO noting the valuable support from these partners in fiscal year 2025. What this means in practice is that a significant portion of revenue flows through these third parties. Here's the quick math on that reliance:

Fiscal Period	Sales via Two Dealers & National Distributor	Percentage of Total Sales
Fiscal Year 2025	Not specified amount	41%
Fiscal Year 2024	Not specified amount	42%

The company's total sales for the full fiscal year 2025 were $240.5 million. Still, the company maintains its own manufacturing presence to safeguard the supply chain, with three facilities in Statesville, North Carolina, serving domestic and international markets, and one facility in Bangalore, India, serving the local, Asian, and African markets.

Direct sales offices in the United States, India, Saudi Arabia, and Singapore

To support this network and manage key accounts directly, Kewaunee Scientific Corporation maintains dedicated sales offices in specific geographic locations. You'll find these direct sales offices in the United States, India, Saudi Arabia, and Singapore. The Domestic segment, which is heavily influenced by these direct sales and local dealers, generated $54.352 million in sales for the first quarter of fiscal year 2026 (ended July 31, 2025), representing a 53.0% year-over-year increase. The International segment, which includes sales from regions served by the international offices and the Bangalore plant, reported sales of $16.752 million for the same period.

International subsidiaries providing facility design and project management

The international reach extends beyond just sales offices, involving manufacturing and project execution capabilities. The Bangalore, India, manufacturing facility supports the local, Asian, and African markets. Furthermore, the newly acquired subsidiary, NuAire, contributes to this channel by maintaining a warehouse partnership in the Netherlands and holding OEM partnerships in China, which supports the broader international project management and delivery capabilities. The company's overall international sales for Q1 FY2026 were $16.752 million.

Company websites for product information and lead generation

Digital presence is a clear channel for information dissemination and initial customer contact. Kewaunee Scientific Corporation directs potential customers to its primary website, located at http://www.kewaunee.com, and the subsidiary's site at http://www.nuaire.com. These sites serve as the repository for product information, including brochures, specifications, CAD drawings, and BIM content, which are crucial for the design and specification phase of laboratory projects. You can expect financial information, like earnings releases, to be available on the Kewaunee website after they are announced.

You should check the Dealer Locator tool on the Kewaunee site to see how they map their dealer network geographically.

Finance: draft 13-week cash view by Friday.

Kewaunee Scientific Corporation (KEQU) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Kewaunee Scientific Corporation, the folks who build the specialized environments where science and industry happen. Honestly, the way they structure their sales geographically-Domestic versus International-gives us a good proxy for where the demand is coming from, even if the specific breakdown by end-user isn't explicitly published in those four neat buckets.

Kewaunee Scientific Corporation's vision is to be the global supplier of choice for customers in the laboratory furniture and infrastructure markets. As of the end of fiscal year 2025, the company achieved total sales of $240.5 million. The demand driving this revenue is clearly concentrated in the domestic market, which saw sales of $179.4 million in FY2025, a significant 30.7% jump from the prior year, partly due to the Nu Aire acquisition. The International segment, conversely, reported sales of $61.1 million for the same period.

The backlog, which stood at a robust $214.6 million as of April 30, 2025, underscores the durable demand across the specific sectors you listed. This backlog supports a strong outlook for fiscal year 2026.

Life sciences and pharmaceutical research organizations

This group is a primary driver of the demand Kewaunee Scientific Corporation sees, especially given the nature of the products they offer, like biological safety cabinets from the Nu Aire portfolio. Management specifically noted that demand durability exists across life sciences in their backlog commentary. While we don't have a specific dollar figure tied just to this segment for FY2025, their products-fume hoods, casework, and safety cabinets-are essential infrastructure for these organizations.

Higher education and government research institutions

These institutions represent foundational, long-term customers for Kewaunee Scientific Corporation. The company's products furnish laboratory spaces for both higher education and government research. These projects often involve large, multi-year capital expenditure cycles, which contribute to the overall order backlog. For instance, the backlog in Q3 FY2025 was $221.6 million, up from $152.3 million a year prior, reflecting strong forward visibility from these sectors.

Healthcare facilities and hospital laboratories

Kewaunee Scientific Corporation is a recognized global leader in providing solutions for healthcare facilities. Their technical furniture and laboratory products are critical for hospital laboratories and clinical research settings. The company's overall sales performance in FY2025, reaching $240.5 million, is directly supported by continued prioritization of projects requiring their infrastructure.

Industrial and petrochemical sectors requiring specialized technical products

This segment includes customers in the industrial and petrochemical sectors that require specialized technical furniture and laboratory environments. Management has explicitly cited demand from these areas as supporting the company's strong backlog position. These customers rely on Kewaunee Scientific Corporation's expertise in designing spaces that meet stringent technical specifications for their operations.

Here's a quick look at the financial context derived from the company's reported segments for the fiscal year ending April 30, 2025, which encompasses the revenue generated from all these customer types:

Metric	Value (FY2025 Ending April 30, 2025)	Context
Total Company Sales	$240.5 million	Total revenue for Kewaunee Scientific Corporation.
Domestic Segment Sales	$179.4 million	Represents the majority of sales, including Nu Aire integration.
International Segment Sales	$61.1 million	Sales impacted by customer site delays in India.
Order Backlog (April 30, 2025)	$214.6 million	Indicates future committed revenue across all customer segments.

To be fair, the Domestic segment sales of $179.4 million include all domestic customers across the four categories, so you can see the heavy reliance on the North American market for immediate revenue conversion. If onboarding takes 14+ days longer than expected on a major project, backlog conversion risk rises, which is something management noted with the international delays.

Finance: draft 13-week cash view by Friday.

Kewaunee Scientific Corporation (KEQU) - Canvas Business Model: Cost Structure

You're looking at the major expenses driving Kewaunee Scientific Corporation's operations as of late 2025. The cost structure is heavily influenced by material procurement, global labor deployment, and recent financing activities tied to the Nu Aire acquisition.

Significant Raw Material Costs

Kewaunee Scientific Corporation bears the risk of fluctuating input costs because, in the industry, prices are typically quoted on a firm basis between the order date and final delivery. This means Kewaunee Scientific must absorb potential increases in material costs if they occur during the production cycle. The primary raw materials that impact earnings are:

• Steel, including cold-rolled carbon and stainless steel.
• Wood, such as hardwood lumber and plywood.
• Epoxy Resin, used for work surfaces and sinks.

The company acknowledges that fluctuations in the prevailing pricing for projects, alongside the costs of these raw materials, directly impact profitability.

Manufacturing and Installation Labor Costs

Labor is a key component of the cost structure, supporting manufacturing and installation across Kewaunee Scientific Corporation's global footprint. The company operates manufacturing facilities in Statesville, North Carolina, and Bangalore, India, while its subsidiary, Nu Aire, operates facilities in Plymouth and Long Lake, Minnesota. Labor costs are subject to general economic conditions and local wage rates across these locations. While specific labor cost figures for FY2025 aren't broken out separately from Cost of Goods Sold, the overall operating expenses for the nine months ended January 31, 2025, rose to $35.56 million, representing 21.8% of the nine-month sales of $163.32 million.

Debt Servicing Costs

Interest expense is a direct cost, though Kewaunee Scientific Corporation recently took decisive action to reduce this burden. As of December 4, 2025, the company successfully repaid in full and ahead of schedule its Seller Notes, which had an original outstanding principal balance of $23.0 million. These notes were originally set to mature on November 1, 2027, and were issued in connection with the November 2024 acquisition of Nu Aire, Inc.. The term loan balance under the PNC agreement was $13.8 million as of April 30, 2025. The early repayment, partially funded by a new $10.0 million term loan from PNC and drawing on the revolving credit facility, is expected to materially reduce future interest expense. For context, interest paid for the 12 months ended April 30, 2023, was reported as $1,862 (in thousands).

Acquisition and Integration Costs

The integration of Nu Aire, Inc. introduced non-recurring costs that impacted the cost structure in fiscal year 2025. Kewaunee Scientific Corporation reported that non-recurring acquisition costs totaled $6.0 million for the full fiscal year 2025, which influenced the reported net earnings of $11.4 million for that year. Earlier in the fiscal year, expenses related to the acquisition were noted as $2.3 million in the second quarter of fiscal year 2025. The rise in operating expenses for the nine months ending January 31, 2025, was explicitly attributed in part to these Nu Aire acquisition costs.

Here's a quick look at the key financial events impacting the cost base around the close of FY2025:

Cost/Event Category	Amount (USD)	Context/Date
Seller Notes Repaid in Full	$23.0 million	December 4, 2025 (Ahead of Nov 2027 maturity)
New Term Loan from PNC	$10.0 million	Used to partially fund Seller Note repayment, Dec 2025
Non-Recurring Acquisition Costs (FY2025)	$6.0 million	Impacted FY2025 Net Earnings
Term Loan Balance (Pre-Refinancing)	$13.8 million	As of April 30, 2025
Nine-Month Operating Expenses (to Jan 31, 2025)	$35.56 million	21.8% of nine-month sales

Finance: draft 13-week cash view by Friday.

Kewaunee Scientific Corporation (KEQU) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Kewaunee Scientific Corporation's business as of late 2025, focusing on the numbers from the Fiscal Year ended April 30, 2025. Honestly, the business model relies heavily on large, project-based sales, which means revenue can look a bit lumpy quarter-to-quarter based on project completion timing.

The core revenue streams flow through two main operational segments: Domestic and International. The Domestic segment is now significantly bolstered by the acquisition of Nu Aire, Inc., which brought in the biosafety and containment equipment lines.

Here are the key financial figures for the Fiscal Year 2025:

• Total sales for Fiscal Year 2025 were $240.5 million.
• The company's business is fundamentally built on the sales of specialized laboratory furniture, which includes steel and wood casework and fume hoods.
• Revenue from sales of biosafety and containment equipment, such as biological safety cabinets, CO2 incubators, and ultralow freezers, is now integrated following the Nu Aire acquisition in November 2024.
• Revenue from installation and project management services is embedded within the overall project sales recognized by the segments.

Here's the quick math on how the segments contributed to that total revenue:

Revenue Stream Category (Segment)	Fiscal Year 2025 Sales Amount	Year-over-Year Change (FY2024 to FY2025)
Domestic Segment Sales (Includes core furniture and Nu Aire containment products)	$179.4 million	Increase of 30.7% from $137.2 million
International Segment Sales	$61.1 million	Decrease of 8.2% from $66.5 million
Total Sales (FY2025)	$240.5 million	Increase of 18.0% from $203.8 million

To be fair, the search results provide the segment totals, which are the most granular, trustworthy financial figures available for the revenue streams you listed. The Domestic segment is where the bulk of the specialized furniture and the new containment equipment revenue lands. Also, note that sales to just three domestic channel partners accounted for approximately 41% of total sales in fiscal year 2025.

The order backlog as of April 30, 2025, stood at $214.6 million, indicating strong forward revenue visibility, though management notes project timing can cause uneven results.

Finance: draft 13-week cash view by Friday.