Microba Life Sciences (MAP) H1 2026 earnings summary

Executive summary

• Achieved record core test sales of 10,258 in H1 FY26, up 113% year-over-year, with annualized run rate surpassing 21,300 tests and on track for 24,000+ for FY26.

• Completed strategic discontinuation of all legacy products, focusing entirely on core growth products.

• Microbiome Explorer now represents 55% of total revenue, up from 20% in the prior period.

• Transitioned therapeutics business to active partnering phase, ceasing further R&D expenditure.

• Major brand consolidation and AI-driven operational efficiencies implemented.

Financial highlights

• H1 FY26 revenue was $7.32 million, down 9% year-over-year due to legacy product discontinuation; core testing revenue grew 123%.

• Statutory loss before income tax was $10.81 million, up from $5.88 million in H1 FY25, driven by non-recurring and non-cash items.

• Underlying loss (excluding non-recurring items) improved 5.8% to $8.73 million from $9.27 million year-over-year.

• Cash and cash equivalents at 31 December 2025 were $11.27 million.

• Staff costs reduced by $2.0 million annually through restructuring.

Outlook and guidance

• Targeting over 24,000 core tests for FY26, with continued acceleration in Australia and UK.

• Clean revenue growth profile expected from Q3 FY26 as legacy product roll-off completes.

• Launch of new Microbiome Explorer SKUs in the UK planned.

• Advancing toward regional break-even in Australia and UK.

• Ongoing AI implementation and operational efficiency gains anticipated.