10-Q - UNIVERSAL BIOSENSORS INC (0001279695) (Filer)
Fri, Aug 2, 1:32 PM (88 days ago)
Universal Biosensors, Inc. reported a net loss of A$7.23 million for the six months ended June 30, 2024, an improvement from the A$2.39 million loss in the same period last year. Total revenue increased by 19% year-over-year to A$3.10 million, driven by a 23% rise in product sales and a 76% increase in service revenue. Gross profit rose by 11% to A$2.05 million. Operating costs decreased by 4%, with a notable 37% reduction in R&D expenses. Cash and cash equivalents stood at A$16.68 million, bolstered by a A$10 million fully underwritten entitlement offer. The company's financial position remains stable, with a working capital of A$20.99 million and a current ratio of 5.65.