YDESNasdaqServices-Medical LaboratoriesUS GAAP · USD

YD Bio Ltd

YD Bio Ltd is a U.S.-anchored biotechnology and medical-laboratory services company with operations spanning regulated diagnostics, life science clinical services, and healthcare product commercialization. The company works through an affiliate laboratory and partner-based commercial channels across the United States and Asia, with additional regulated ocular health and consumer health activities.

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Revenue0.6m USD
+16.9 %y/y
Operating profit (EBIT)-5.3m USD
−260.6 %y/y
EBIT margin-883.3%
−596.9 ppy/y
Net income-8.3m USD
−488.8 %y/y
Free cash flow-8.0m USD
−519.4 %y/y

Fiscal year 2025 · change from previous year

Development 2023–2025

-6-4-202m USD2023: 0.35 m USD2023: EBIT -0.01 m USD20232024: 0.51 m USD2024: EBIT -1.5 m USD20242025: 0.60 m USD2025: EBIT -5.3 m USD20250.60-5.3
RevenueOperating profit (EBIT)
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Business

Share of revenue
Oncology diagnostics30 %

Methylation-based cancer testing and related laboratory diagnostics services.

Clinical laboratory services25 %

Sample collection, testing workflows, and lab-based reporting services.

Life science distribution20 %

Compliance-focused distribution of medical and life science products.

Clinical trial support15 %

Supply chain and regulatory liaison services for pharma and biotech partners.

Ocular and consumer healthcare10 %

Commercialization and distribution of regulated eye-health and consumer products.

Products

Reported · share of revenue
47.0%37.4%8.4%FY2025100 %
  • Medical and Related Products47.0 %
  • Drugs37.4 %
  • Beauty Products8.4 %
  • Contact Lenses5.9 %
  • Nutritional Products0.9 %
  • Supplements0.4 %

Source: 20-F FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

YD Bio serves biopharma companies, clinical research participants, and healthcare channel partners that need regulated laboratory, distribution, and commercialization support. Its testing services are used in oncology-related screening and diagnostic workflows, while its life science services are aimed at pharmaceutical and biotechnology customers navigating regulatory and supply-chain requirements. The ocular health and consumer health businesses address commercial healthcare buyers and end-market distribution channels in Asia and the U.S.

Biopharma partners

They buy regulatory liaison, clinical supply chain, and partner support services to move programs through development and compliance steps.

Diagnostic and clinical testing customers

They use oncology testing services and lab workflows for screening and clinical decision support.

Healthcare commercialization partners

They source ocular health and related regulated health products for distribution and commercialization.

Consumer health distribution channels

They purchase consumer health products through commercial distribution platforms in Asia.

Strategy

YD Bio is focused on standardizing its service offerings, scaling operations, and formalizing partnership agreements to expand recurring business. Its model relies on partner-led execution across diagnostics, supply chain services, and regulated commercialization, which can widen reach without fully internalizing every function. The company also appears to be building a broader healthcare platform that links diagnostics, clinical services, and commercial product distribution.

Standardize service offeringsShort term

A more repeatable service model supports scale and easier partner onboarding.

Formalize partnershipsShort term

Contracted partner relationships help create recurring revenue and operational visibility.

Scale U.S. diagnostics coverageMedium term

Broader coverage increases addressable market and utilization of lab workflows.

Expand integrated healthcare platformMedium term

Combining diagnostics, services, and commercialization broadens the business base.

Geography

2025

YD Bio is headquartered in Taiwan, operates as a U.S.-anchored public company, and runs business activities in both the United States and Asia. Its oncology testing coverage currently spans 44 U.S. states plus Washington, D.C. and Guam, while other commercialization and distribution activities extend into Asian markets. Geography matters because the business depends on local laboratory rules, import/export controls, and partner execution across multiple regulated markets.

Taiwan94 %
United States5.9 %

Share of the revenue the company reports by geography.

Risks

YD Bio depends on regulated markets, outside suppliers, and partner execution, so regulatory delays or supply interruptions can affect operations quickly. The company also faces typical biotechnology commercialization risk because it has not yet completed clinical trials or secured broad product approvals. As a cross-border healthcare business, it is exposed to changes in U.S. and foreign import, export, and medical-device rules.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Regulatory approval risk1Supplier concentration2Commercialization uncertainty3Cross-border regulatory complexity4Partner execution risk5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Regulatory approval riskImpact: HighLikelihood: High

    Products and services are subject to extensive U.S. and foreign health regulations, and the company notes it has not completed clinical trials or secured product approvals.

    Exposure: Diagnostics and product commercialization

  2. Supplier concentrationImpact: HighLikelihood: High

    Two suppliers represented a large share of purchases, creating potential disruption if either source is interrupted.

    Exposure: Medical products and services procurement

  3. Commercialization uncertaintyImpact: HighLikelihood: Medium

    Biotechnology offerings may fail to reach market or achieve marketable product status.

    Exposure: Pipeline and product launches

  4. Cross-border regulatory complexityImpact: MediumLikelihood: High

    U.S. and foreign rules govern export, import, and distribution of medical products and cancer early-detection services.

    Exposure: United States and Asia operations

  5. Partner execution riskImpact: MediumLikelihood: Medium

    A partner-led model depends on external parties to deliver, scale, and support client relationships.

    Exposure: Clinical services and commercialization partnerships

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Accounting

Judgemental items
Warrant liability fair value

Public and private placement warrants are classified as liabilities and remeasured each period, creating non-cash earnings volatility.

Impact: Fair value changes flow through the statement of operations

Reverse recapitalization

The merger is accounted for as a recapitalization, not a conventional acquisition, which affects comparability and balance-sheet presentation.

Impact: No purchase accounting goodwill from the transaction

Use of estimates

Revenue, liabilities, and disclosures rely on management assumptions in an early-stage regulated business.

Impact: Can materially change reported period results

Emerging growth company accounting

The company can defer certain new accounting standards, which may affect timing and comparability of adoption.

Impact: Differences versus larger peers in disclosure and timing

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Last updated: 28/09/2026