Atomo Diagnostics (AT1) Q3 2025 earnings summary

Executive summary

• Secured first large order for vending machine program funded by the federal government and launched in New Zealand via Chemist Warehouse partnership, including a $230k order for HIV Self-Tests in Australia.

• Entered exclusive commercialization agreement for a novel active syphilis test and restructured partnership with Lumos Diagnostics, including an amended supply agreement for Pascal cassettes with potential committed revenues up to US$3.4m.

• Board renewal with two new directors bringing significant industry experience.

Financial highlights

• Q3 FY25 unaudited revenue: $1.02m; year-to-date revenue and grant income for first three quarters: ~$3.1m, up 27% year-over-year.

• Q3 cash receipts: $828k from customers, $485k CRC-P grant payment; quarter ended with $1.97m cash on hand and no debt.

• Operating costs for Q3 YTD: $5.2m, down 8% from prior year period; over AUD 2 million reduction over two years, with further reductions planned.

• Gross margin improved to mid-40% from historical 40%, targeting high 50% to low 60% at scale.

• Net cash used in operating activities for Q3: $(901)k; net cash used in investing: $(2)k; net cash used in financing: $(50)k.

Outlook and guidance

• Expect continued orders from federally funded public health channels through 2026 and plans to expand HIV test sales channels domestically and internationally.

• Focus on leveraging self-testing for PrEP management and securing additional distribution partners in Europe.

• Ongoing development and commercialization of active syphilis test, with clinical trials and product registrations planned in the US.

• Targeting OEM growth and CLIA waiver for U.S. market expansion, especially for Lumos's FebriDx test.

• Anticipate further growth in New Zealand and through expanded pharmacy access in Australia.