Atomo Diagnostics (AT1) Q4 2024 earnings summary

Executive summary

• Sold approximately 400,000 HIV self-test units in Q4 FY 2024, with strong demand from Viatris, Global Health, and the Australian market, and over 520,000 units ordered in the last six months by Viatris for global markets.

• Expanded European market reach through Newfoundland, now selling in major UK retailers Tesco and Boots, and secured product registrations in Colombia, Switzerland, and Eastern Europe.

• Revenue for Q4 was AUD 1.64 million (unaudited), with FY 2024 revenue totaling just over AUD 4.09 million, a 61% increase over FY 2023, alongside reduced business costs.

• Ended the quarter debt-free with AUD 3.69 million cash on hand as of June 30.

• Australian Federal Government committed to two years of funding for HIV self-test procurement, supporting multiple public health programs.

Financial highlights

• Q4 unaudited revenue: AUD 1.64 million; FY 2024 unaudited revenue: AUD 4.09 million, up 61% year-over-year.

• Q4 FY24 operating costs were AUD 1.4 million, a 38% reduction from Q4 FY23.

• Cash receipts for the quarter: just over AUD 1.08 million.

• Cash on hand at June 30: AUD 3.69 million, with no debt.

• Net cash used in operating activities for the quarter was $(1.49) million.

Outlook and guidance

• Expect continued revenue growth into FY 2025, driven by government-funded HIV programs, expansion in pharmacy and OEM channels, and budgeting AUD 1.3 million in revenue over the next two years from the NAPWHA HIV Self-Test mail-out program.

• Anticipate scaling of vending machine and pharmacy programs in Australia, and further European market expansion, including new launches in New Zealand and Eastern Europe.

• New OEM contracts and development deals expected, with more clarity after upcoming US conferences.

• Focused on expanding public health-funded opportunities in Europe and the US.