Atomo Diagnostics (AT1) Q2 2026 earnings summary

Executive summary

• Quarterly revenue reached AUD 1.5 million (up 121% from the previous quarter), driven by strong HIV and OEM Pascal sales, with significant orders for FebriDx and HIV Self-Test in Africa and new international customers secured.

• Operational expansion is underway to meet anticipated demand, including relocation and qualification of the Blister Machine-mk2 in Sydney, increasing annual production capacity to 12-15 million units.

• Strategic partnership and exclusive global licensing with Burnet for novel rapid test assays, including an ALT liver function test, with initial use in drug trials.

• HIV self-test demand remained robust in Africa, with expansion efforts ongoing in Australia, New Zealand, Eastern Europe, Southeast Asia, and new orders from low- and middle-income countries.

• New OEM customers for Pascal were secured, with revenue for the quarter more than doubling the previous quarter.

Financial highlights

• Quarterly revenue reached AUD 1.5 million (up 121% QoQ), with customer receipts totaling up to $2.2 million, including $1.2 million from customers and $1.04 million from grants and tax incentives.

• Cash on hand at quarter end was just over AUD 3.5 million, with no debt.

• Gross margin remained steady at 40% for the quarter.

• Net cash burn from operating activities was less than AUD 1 million for the first half of the year; the quarter was cash positive.

• Losses have continued to reduce quarter on quarter, with revenue growth not matched by increased operating costs.

Outlook and guidance

• Continued growth expected in both HIV and OEM Pascal business segments, with new products anticipated to come to market and ongoing expansion in Australia, Europe, and Asia.

• Clinical trials for the syphilis test are planned to start within the next 3-6 months (Q4 FY26).

• Regulatory submission for the liver test will follow review of clinical data from ongoing drug-induced liver injury trials.

• Decision on FebriDx CLIA waiver expected in early 2026, supporting further operational expansion.

• Revenue growth is expected to continue without a corresponding rise in operating expenses.