Atomo Diagnostics (AT1) H1 2026 earnings summary

Executive summary

• Revenue for H1 FY26 reached $2.18 million, up 6% year-over-year, with EBITDA loss reduced by 57% to under $1 million and net loss after tax narrowed to $1.66 million, reflecting improved financial efficiency and cost management.

• Cash on hand at period end was $3.5 million, with no debt, supported by strong receipts from customers, grants, and a capital raise.

• Share price doubled since the start of FY 2026, supported by increased market engagement and trading volumes.

• Significant operational expansion underway to support OEM Pascal business and diagnostic test products, including increased production capacity and cost reduction initiatives.

Financial highlights

• Gross margin declined to 37–39% due to a higher share of lower-margin product mix and absence of high-margin license fees from the prior year.

• Product sales: $1.04 million from HIV tests, $988,000 from OEM technology, and $152,000 from development and other fees.

• Other income, including R&D rebates and grants, doubled to $1.11 million.

• Monthly cash burn averaged under $170,000, slightly up from the prior period due to investment in pipeline opportunities.

• Total cash receipts for H1 FY26 were $4.5 million, including $2 million from product sales and $1.3 million from a capital raise.

Outlook and guidance

• Confident trajectory for the remainder of the year, with strong order book and growing demand for the Pascal platform, especially for FebriDx pending US FDA CLIA waiver decision.

• Focus remains on driving revenue growth, restoring margin strength, and maintaining cost discipline.

• Operational capacity expansion underway to support anticipated demand and improve gross margins over the next 6–18 months.

• Pathway to profitability demonstrated by revenue growth and reduced losses.