Half Year 2024 Atomo Diagnostics Ltd Earnings Call Transcript
Key Points
- Total revenue increased by 41% year-over-year.
- Core business revenue, excluding COVID-related sales, doubled from just under $1 million to $2 million.
- Normalized gross margins improved from 39% to 45%, indicating better profitability.
- Operating expenses have decreased, contributing to a leaner business model.
- EBITDA loss reduced by half, showing significant improvement in financial performance.
- Revenue growth in core business has been relatively flat when excluding COVID-related sales.
- Despite improvements, the company is still operating at a loss.
- The company remains reliant on securing new contracts and partnerships to drive future growth.
- There is uncertainty around the timing of regulatory approvals for new products, such as the blood-based pregnancy test.
- The company faces challenges in expanding into new markets, such as the U.S., which requires significant investment and regulatory hurdles.
Good afternoon, everyone, and welcome to the Atomo Diagnostics Half Year FY '24 results presentation. We -- as you will have seen, we put on our results earlier this morning, and we wanted to obviously take this opportunity to run through the supporting presentation and give investors a sense of not only the half year results, but our plans moving forward as well as an opportunity to ask questions. I will just share a screen to get the presentation started. And I'm joined here today by Suzy Elhlou, who's our Financial Manager and Finance Manager, and she'll be running through the numbers. I'm going to share the screen, and we'll get started. Thank you. Okay. So for anyone new to Atomo, a bit of background, we're headquartered in Australia, but have operations overseas and as well as our operations being based overseas. The bulk of our customer base and revenue is also generated in international markets. Our solutions are best-in-class diagnostic platforms and finished products, and really improv usability but
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