Clever Culture Systems (CC5) Q3 2026 earnings summary

Executive summary

• Progressed partnership with Thermo Fisher, resulting in two customer sales in the quarter, including a conversion from evaluation and a new US site.

• Nine APAS® instrument placements year-to-date, with expectations to at least match FY25's 11 placements and expand the customer base.

• Advanced contracting with two new top-20 global pharmaceutical customers, expected to close in FY26.

• Customer base now includes AstraZeneca, Novo Nordisk, Boehringer Ingelheim, Bristol Myers Squibb, Pfizer, and Thermo Fisher.

• APAS® Independence awarded Professor Wallhäußer 2026 Award for innovation in GMP and pharmaceutical technology.

Financial highlights

• Ended the quarter with AUD 2 million in cash and expects at least AUD 2.6 million in cash inflows over the next two quarters from committed or near-contract instrument sales and R&D tax incentives.

• Total net cash outflows for the quarter were AUD 1.1 million, mainly from operating and investing activities.

• Customer inflows were AUD 1.1 million, while expenditures totaled AUD 2.2 million, impacted by final payments for instrument parts.

• Minimal net cash outflows from financing activities: $54,000 from lease payments.

• Estimated quarters of funding available: 1.82, with expectations of lower outflows in the next quarter.

Outlook and guidance

• Expects to add two additional top 20 pharma customers in the next two months, with further pipeline progression and broader deployments anticipated in FY 2027 and beyond.

• FY26 guidance to at least meet FY25's 11 instrument placements, with a broader customer base.

• Expectation of lower cash outflows in the June 2026 quarter due to completed inventory replenishment.

• No near-term plans to raise capital; operations expected to be funded by existing commitments and R&D tax incentive.

• On track to deliver FY 2026 objectives, with a focus on successful execution and closing out the year strongly.