Atomo Diagnostics (AT1) Q2 2026 earnings summary

Executive summary

• Quarterly revenue reached AUD 1.5 million (up 121% QoQ), driven by strong HIV self-test and OEM Pascal sales, with significant orders from Lumos/FebriDx and new international customers.

• HIV self-test demand remained robust in Africa and expanded into Australia, New Zealand, Eastern Europe, and Southeast Asia, supported by a $500k order and government initiatives.

• Exclusive global licensing agreement signed for a novel ALT liver function test, with initial use in drug trials and ongoing evaluation in the US.

• Operational expansion underway, including increased blister production capacity in Sydney to 12-15 million units per annum.

• Net cash from operating activities was positive at A$171,000 for the quarter, with cash and cash equivalents rising to A$3,512,000.

Financial highlights

• Quarterly revenue was AUD 1.5 million, more than doubling the previous quarter, with gross margin steady at 40%.

• Customer receipts totaled AUD 1.17 million, and government grants and R&D rebates contributed over AUD 1 million.

• Cash on hand at quarter end was just over AUD 3.5 million, with no debt.

• Net cash burn from operating activities was less than AUD 1 million for the first half; the quarter was cash positive.

• Operating expenses for the quarter were AUD 1.5 million, tightly controlled to focus on growth.

Outlook and guidance

• Continued growth expected in HIV and OEM Pascal segments, with new products anticipated to come to market.

• Clinical trials for the syphilis test are planned to start within the next 3-6 months, with regulatory submission for the liver test to follow review of clinical data.

• Decision on FebriDx CLIA waiver expected in early 2026, supporting further operational expansion.

• Revenue growth is expected to continue without a corresponding rise in operating expenses.