Atomo Diagnostics (AT1) H1 2025 earnings summary

Executive summary

• Achieved 7% year-over-year revenue growth for the half-year ended 31 December 2024, reaching $2.05m, driven by HIV self-test and OEM technology sales.

• Focused on operational efficiency, reducing OpEx and monthly cash burn, and maintaining a diversified product and geographic revenue mix.

• Positioned as a disruptive innovator in rapid diagnostics, with strong user preference, global regulatory approvals, and a robust IP portfolio.

• Over 7 million units supplied and $30M in aggregate sales, with a pipeline of new products in development.

• No significant changes in the nature of business activities or state of affairs during the period.

Financial highlights

• Revenue exceeded $2.05m, with HIV self-test contributing $1.3m and OEM sales $500,000.

• Gross margin held steady at 45%, up from historical averages of 39%.

• EBITDA loss improved by 16% year-over-year, with half-year loss under $2m and net loss after tax at $2.76m.

• Ended the period with $2.9m in cash and no debt.

• Monthly cash burn reduced from $333,000 to ~$132,000; total cash burn for the half-year was under $800,000.

Outlook and guidance

• Targeting further margin improvement into the 50% range as sales shift toward developed markets.

• Aiming for break-even in the medium term through revenue growth, margin expansion, and continued OpEx reduction.

• Prioritizing expansion of HIV and syphilis testing, with funded development programs and regulatory submissions planned for Europe and Australia.

• Exploring U.S. market entry for HIV self-test and OEM devices, with CLIA waiver and self-test approval as key milestones.

• $2.9m cash on hand supports ongoing operations; further funding may be required to execute growth strategy.