Vitrafy Life Sciences (VFY) H1 2025 earnings summary

Executive summary

• Achieved positive results from scientific and validation studies, strengthening market position in animal reproduction, blood platelets, and cell & gene therapy.

• Principal activity focused on research, development, and commercialisation of vertically integrated cryopreservation solutions for human and animal health, including devices, software, and services.

• Commenced outbound business development in the USA in January 2025, expanding commercial opportunities and building a robust pipeline.

• Successfully completed a $35 million IPO in November 2024, with strong investor demand, enabling investment in market development, product innovation, and US operational expansion.

• Loss after tax for the half-year was $25.7 million, compared to a $46.7k loss in the prior year.

Financial highlights

• 1H FY2025 sales revenue was $7,704, down 21% year-over-year; interest income rose 292% to $49,805.

• R&D tax incentives decreased 43% YoY to $680,000, reflecting a shift toward commercialization.

• Loss after income tax for the half-year was $25.7m, impacted by $18.9m in non-cash, one-off finance costs related to convertible notes.

• Cash and cash equivalents at period end were $14.45m, with $20m in term deposits.

• Net cash used in operating activities was $4.0m, a 7% improvement YoY.

Outlook and guidance

• Capital raised from the IPO will be used to accelerate development, commercialisation, and US market entry.

• Focused on establishing US presence and personnel, progressing business development, and delivering study/testing milestones in H2 FY25.

• Continued development of VCU2 and LifeChain, with both projects on time and on budget for initial market release in 1H FY26.

• Anticipates growth in animal health (aquaculture and bovine) and human health (blood platelets, CGT) applications.

• US regulatory clearance for the cryopreservation freezer supports North American expansion plans.