EX-99.1 2 ex99x1.htm EXHIBIT 99.1

Exhibit 99.1

 

 

Lifeloc Reports Third Quarter 2025 Results

WHEAT RIDGE, Colo., November 12, 2025 -- Lifeloc Technologies, Inc. (OTC: LCTC), a global leader in the development and manufacturing of breath alcohol and drug testing devices, has announced financial results for the quarter ended September 30, 2025.

 

Third Quarter Financial Highlights

 

Lifeloc posted quarterly net revenue of $2.257 million in the third quarter of 2025, resulting in a quarterly net loss of $(263) thousand, or $(0.10) per diluted share. These results compare to net revenue of $2.087 million and quarterly net loss of $(158) thousand, or $(0.06) per diluted share in the third quarter of 2024. Revenue for the quarter increased 8% versus the third quarter last year. Nine-month 2025 net revenues of $6.754 million and a net loss of $(950) thousand, or $(0.35) per diluted share, compared to net revenue of $6.628 million and a net loss of $(740) thousand, or $(0.30) per diluted share, for the same nine months of 2024. Total gross margin in the third quarter decreased to 40.2% versus 43.7% for the same quarter last year. For the first nine months of 2025 gross margin was 40.6% versus 41.4% for the same period last year.

 

The margin decline for 2025 was a result of general cost inflation and tariffs which the company is working to address through pricing. The losses for the quarter and year to date were caused primarily by the high research and development costs with the push to commercialize our SpinDetect™ centrifugal drug analyzer.

 

We believe our core alcohol detection product line-up continues to be strong. The L-series LX9 and LT7 units have features and performance that have driven market penetration by meeting previously unaddressable market needs, such as smart phone pairing, wider temperature use ranges and fast customization that incorporates local languages. Certified to meet the requirements of most modern registration standards, such as SAI’s (Standards Australia International) latest AS 3547:2019 standards for Breath Alcohol Detectors, our FC-series devices remain popular with many law enforcement and international organizations. Our Easycal® automated calibration station, the only automated calibration available for portable breath alcohol testers, builds valuable protection around our brand and contributes to market share gains by the workplace Phoenix® 6.0 BT and EV 30 devices.

 

We see our greatest opportunity at the intersection of a growing global demand for rapid drug-of-abuse detection and Lifeloc’s established expertise in creating rugged, intuitive testing equipment. Our current R&D focus is on advancing our SpinDetect™ centrifugal drug-analyzer platform—also known as our “lab-on-a-disk” technology—to deliver a family of portable devices capable of providing rapid, quantitative results for multiple drug classes.

 

In laboratory testing, the SpinDx system has successfully detected delta-9-THC, cocaine, fentanyl, amphetamine, methamphetamine, morphine, MDMA, and benzodiazepines. These results have been validated against gold-standard liquid chromatography–mass spectrometry (LCMS) testing of human samples, confirming real-world performance at detection limits of approximately 10 ng/ml. Our current development efforts are aimed at improving assay robustness and optimizing disk design so that the entire analysis can be completed within a single disposable cartridge.

 

We are initiating beta testing of the SpinDetect™ oral-fluid analyzer focused on delta-9-THC detection using a prototype reader, with final component optimization underway under a signed beta-testing agreement. The initial commercial product is expected to measure delta-9-THC—the primary psychoactive compound in cannabis—followed by a multi-drug panel release. We anticipate a commercial launch in 2026, with subsequent expansion into additional drug panels and sample types, including blood and breath. Development of a combined LX9 breathalyzer + THC SpinDx unit will follow as a next-generation roadside marijuana breath testing system. Continued progress toward these milestones will depend on securing additional financing.

 

“Prototype SpinDetect™ analyzers are now traveling to trade shows for customer demonstrations,” said Dr. Wayne Willkomm, Lifeloc’s President and CEO. “We are encouraged by early engagement and interest as we move closer to market introduction. Rapid oral-fluid drug testing represents our most immediate and scalable growth opportunity, and we believe SpinDetect™ can meet this need effectively. Beyond oral-fluid applications, this platform offers a powerful foundation for testing other sample types and analytes.”

 

 
 

As SpinDetect™ advances toward commercialization, we are also exploring broader applications of our microfluidic technology. The same “lab-on-a-disk” system used to detect drugs of abuse can be adapted to identify other biological or chemical targets—such as food or water contaminants, neonatal or veterinary drug residues, or environmental toxins. This versatility positions Lifeloc to extend the platform into adjacent markets in public health, food safety, and environmental testing. While additional research, licensing, and regulatory clearances will be required, the scalability and analytical precision of the SpinDetect™ platform provide a solid foundation for sustained growth across multiple high-impact sectors.

 

Lifeloc Technologies shares began trading on the OTCID July 1, 2025 in alignment with the evolving structure of the OTC Markets. OTCID replaced the OTC Pink Current Market for fully reporting companies. The new OTCID standards may create greater market confidence than the OTC Pink and allow a more transparent and liquid marketplace for our shareholders.

 

A close-up of a printer

AI-generated content may be incorrect. 

 

About Lifeloc Technologies

 

Lifeloc Technologies, Inc. (OTC: LCTC) is a trusted U.S. manufacturer of evidential breath alcohol testers and related training and supplies for Workplace, Law Enforcement, Corrections and International customers. Lifeloc stock trades over-the-counter under the symbol LCTC. We are a fully reporting Company with our SEC filings available on our web site, www.lifeloc.com/investor.

 

Forward Looking Statements

 

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve substantial risks and uncertainties that may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements expressed or implied in this press release, including statements about our strategies, performance, expectations about new and existing products, market demand, economic conditions, acceptance of new and existing products, technologies and opportunities, market size and growth, and return on investments in products and market, are based on information available to us on the date of this document, and we assume no obligation to update such forward-looking statements. Investors are strongly encouraged to review the section titled “Risk Factors” in our SEC filings.

 

Phoenix® and Easycal® are registered trademarks of Lifeloc Technologies, Inc.

 

SpinDetect™ is a trademark of Lifeloc Technologies, Inc.

 

SpinDx™ is a trademark of Sandia Corporation.

 

Amy Evans 
Lifeloc Technologies, Inc. 
http://www.lifeloc.com 
(303) 431-9500

 

 
 

 

LIFELOC TECHNOLOGIES, INC.

Condensed Balance Sheets (Unaudited)

       
ASSETS      
   September 30, 2025   December 31, 2024
CURRENT ASSETS:          
Cash and cash equivalents  $685,097   $1,243,746 
Accounts receivable, net   864,456    732,541 
Inventories, net   2,862,158    2,996,397 
Federal and state income taxes receivable   55,831    80,560 
Prepaid expenses and other   142,628    40,045 
      Total current assets   4,610,170    5,093,289 
           
PROPERTY, PLANT AND EQUIPMENT:          
Land   317,932    317,932 
Building   1,928,795    1,928,795 
Real-time Alcohol Detection And Recognition equipment and software   569,448    569,448 
Production equipment, software and space modifications   1,366,539    1,349,839 
Training courses   432,375    432,375 
Office equipment, software and space modifications   254,333    254,333 
Sales and marketing equipment and space modifications   231,818    226,356 
Research and development equipment, software and space modifications   805,012    787,664 
Research and development equipment, software and space modifications not in service   438,653    128,007 
Less accumulated depreciation   (3,932,832)   (3,613,452)
     Total property and equipment, net   2,412,073    2,381,297 
           
OTHER ASSETS:          
Patents, net   73,008    78,723 
Deposits and other   46,820    12,261 
Deferred income taxes   1,159,199    1,159,199 
     Total other assets   1,279,027    1,250,183 
           
     Total assets  $8,301,270   $8,724,769 
           
LIABILITIES AND STOCKHOLDERS' EQUITY          
CURRENT LIABILITIES:          
Accounts payable  $384,969   $251,627 
Term loan payable, current portion   54,431    53,195 
Subordinated debentures payable, current portion   19,084    —   
Customer and tenant deposits   17,929    43,814 
Accrued expenses   328,734    293,981 
Deferred revenue, current portion   56,214    54,458 
Product warranty reserve   46,500    46,500 
      Total current liabilities   907,861    743,575 
           
TERM LOAN PAYABLE, net of current portion and
debt issuance costs
 
 
 
 
 
1,072,297
 
 
 
 
 
 
 
1,119,152
 
 
           
SUBORDINATED DEBENTURES PAYABLE, net of current portion and
debt issuance costs
 
 
 
 
 
690,116
 
 
 
 
 
 
 
630,000
 
 
           
DEFERRED REVENUE, net of current portion   6,583    6,165 
      Total liabilities   2,676,857    2,498,892 
           
           
COMMITMENTS AND CONTINGENCIES (Note 6)        
           
STOCKHOLDERS' EQUITY:          
Common stock, no par value; 50,000,000 shares authorized, 2,752,616
  shares outstanding (2,664,116 outstanding at December 31, 2024)
 
 
 
 
 
5,934,314
 
 
 
 
 
 
 
5,586,014
 
 
Retained earnings (accumulated deficit)   (309,901)   639,863 
      Total stockholders' equity   5,624,413    6,225,877 
           
      Total liabilities and stockholders' equity  $8,301,270   $8,724,769 

 

 
 

 

LIFELOC TECHNOLOGIES, INC.

Condensed Statements of Income (Loss) (Unaudited)

           
   Three Months Ended September 30,
REVENUES:  2025  2024
Product sales  $2,241,331   $2,075,994 
Royalties   16,117    3,016 
Rental income   —      8,316 
Total   2,257,448    2,087,326 
           
COST OF SALES   1,350,755    1,175,374 
           
GROSS PROFIT   906,693    911,952 
           
OPERATING EXPENSES:          
Research, development, and sustaining engineering   458,747    521,107 
Sales and marketing   341,567    329,716 
General and administrative   340,705    269,450 
Total   1,141,019    1,120,273 
           
OPERATING (LOSS)   (234,326)   (208,321)
           
OTHER INCOME (EXPENSE):          
Interest income   7,840    9,525 
Interest expense   (36,953)   (10,019)
Total   (29,113)   (494)
           
NET (LOSS) BEFORE PROVISION FOR TAXES   (263,439)   (208,815)
           
BENEFIT FROM FEDERAL AND STATE INCOME TAXES   —      50,488 
           
NET (LOSS)  $(263,439)  $(158,327)
           
NET (LOSS) PER SHARE, BASIC  $(0.10)  $(0.06)
           
NET (LOSS) PER SHARE, DILUTED  $(0.10)  $(0.06)
           
WEIGHTED AVERAGE SHARES, BASIC   2,752,616    2,611,616 
           
WEIGHTED AVERAGE SHARES, DILUTED   2,752,616    2,611,616 

  

 
 

LIFELOC TECHNOLOGIES, INC.

Condensed Statements of Income (Loss) (Unaudited)

           
   Nine Months Ended September 30,
REVENUES:  2025  2024
Product sales  $6,695,638   $6,580,861 
Royalties   41,588    22,776 
Rental income   16,632    24,462 
Total   6,753,858    6,628,099 
           
COST OF SALES   4,014,000    3,887,244 
           
GROSS PROFIT   2,739,858    2,740,855 
           
OPERATING EXPENSES:          
Research and development   1,551,689    1,738,982 
Sales and marketing   1,015,651    1,040,099 
General and administrative   1,065,657    947,384 
Total   3,632,997    3,726,465 
           
OPERATING (LOSS)   (893,139)   (985,610)
           
OTHER INCOME (EXPENSE):          
Interest income   31,128    35,874 
Interest expense   (87,753)   (30,226)
Total   (56,625)   5,648 
           
NET (LOSS) BEFORE PROVISION FOR TAXES   (949,764)   (979,962)
           
BENEFIT FROM FEDERAL AND STATE INCOME TAXES   —      239,841 
           
NET (LOSS)  $(949,764)  $(740,121)
           
NET (LOSS) PER SHARE, BASIC  $(0.35)  $(0.30)
           
NET (LOSS) PER SHARE, DILUTED  $(0.35)  $(0.30)
           
WEIGHTED AVERAGE SHARES, BASIC   2,733,490    2,506,999 
           
WEIGHTED AVERAGE SHARES, DILUTED   2,733,490    2,506,999 

 

 
 

 LIFELOC TECHNOLOGIES, INC.
Condensed Statements of Changes in Stockholders' Equity (Unaudited)
 

             
   Common Stock Shares  Common Stock Amount  Retained Earnings (Accumulated Deficit)  Total
Balance, December 31, 2023   2,454,116   $4,668,014   $1,692,811   $6,360,825 
Net (loss)   —      —      (581,794)   (581,794)
Ending balance, June 30, 2024   2,454,116    4,668,014    1,111,017    5,779,031 
Issuance of common stock for cash,
  net of issuance costs
 
 
 
 
 
210,000
 
 
 
 
 
 
 
798,000
 
 
 
 
 
 
 
—  
 
 
 
 
 
 
 
798,000
 
 
Net (loss)   —      —      (158,327)   (158,327
Ending balance, September 30, 2024   2,664,116   $5,466,014   $952,690   $6,418,704 
                     
Balance, December 31, 2024   2,664,116   $5,586,014   $639,863   $6,225,877 
Issuance of shares from option exercise   88,500    336,300    —      336,300 
Warrants issued with subordinated
  debenture
 
 
 
 
 
—  
 
 
 
 
 
 
 
12,000
 
 
 
 
 
 
 
—  
 
 
 
 
 
 
 
12,000
 
 
Net (loss)   —      —      (686,325)   (686,325)
Ending balance, June 30, 2025   2,752,616    5,934,314    (46,462)   5,887,852 
Net (loss)   —      —      (263,439)   (263,439)
Ending balance, September 30, 2025   2,752,616   $5,934,314   $(309,901)  $5,624,413 

 

 
 

LIFELOC TECHNOLOGIES, INC.

Condensed Statements of Cash Flows (Unaudited)

           
   Nine Months Ended September 30,
CASH FLOWS FROM OPERATING ACTIVITIES:  2025  2024
Net (loss)   (949,764)   (740,121)
Adjustments to reconcile net income (loss) to net cash
 (used in) operating activities-
          
 Depreciation and amortization   325,095    193,096 
 Provision for doubtful accounts, net change   1,500    1,000 
 Provision for inventory obsolescence, net change       52,500 
 Deferred taxes, net change       (239,841)
 Amortization of debt issuance costs   11,937      
Changes in operating assets and liabilities-          
 Accounts receivable   (133,415)   199,687 
 Inventories   134,239    (187,866)
 Federal and state income taxes receivable   24,729    (60,420)
 Prepaid expenses and other   (102,583)   16,918 
 Deposits and other   (34,559)   98,896 
 Accounts payable   133,342    (73,703)
 Income taxes payable       (44,952)
 Customer and tenant deposits   (25,885)   (166,779)
 Accrued expenses   34,753    (58,379)
 Deferred revenue   2,174    (25,936)
          Net cash (used in) operating activities   (578,437)   (1,035,900)
CASH FLOWS (USED IN) INVESTING ACTIVITIES:          
Purchases of property and equipment   (39,510)   (477,623)
Purchases of research and development equipment, software and
space modifications not in service
 
 
 
 
 
(310,646
 
)
 
 
 
 
 
(147,615
 
)
Patent filing cost   —     (21,708)
           Net cash (used in) investing activities   (350,156)   (646,946)
           
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:          
Principal payments made on term loan   (41,356)   (40,154)
Proceeds from issuance of 210,000 shares of common stock
at $3.80 per share
 
 
 
 
 
 
 
 
 
 
 
 
798,000
 
 
Proceeds from issuance of subordinated debenture   75,000     
Proceeds from Issuance of shares from option exercise   336,300     
           Net cash provided from financing activities   369,944    757,846 
           
NET (DECREASE) IN CASH   (558,649)   (925,000)
           
CASH, BEGINNING OF PERIOD   1,243,746    1,766,621 
           
CASH, END OF PERIOD   685,097    841,621 
           
SUPPLEMENTAL INFORMATION:          
Cash paid for interest   75,816    27,048 
           
Cash paid for income tax       60,420 
           
Income tax refund received   24,729     
           
Non-cash financing and investing activities: warrants issued with subordinated debenture   12,000