Microba Life Sciences (MAP) Q3 2025 earnings summary

Executive summary

• Achieved strong growth in diagnostic test sales and clinical adoption in Australia and the UK, with MetaXplore/MetaExplore and MetaPanel driving momentum and replacing legacy products.

• Announced landmark clinical study results for MetaPanel in inflammatory bowel disease, leading to major partnerships with leading gastroenterology clinics and integration into routine care.

• Transitioned therapeutics business to a capital-light, partnering-focused, and revenue-driven model, targeting non-dilutive funding for clinical trials and focusing on live biotherapeutics and next-generation probiotics.

• Completed transfer/divestment of non-core research services, focusing future revenue on diagnostics and supplements.

Financial highlights

• Q3 FY25 unaudited revenue was $3.43m, down 14% vs PCP, reflecting the transition away from research services; core Personal Testing and Supplements revenue grew 3.5% YoY to $3.3m.

• Over 3,200 MetaExplore/MetaXplore tests sold in Australia in Q3, up 201% YoY; ordering clinicians in Australia grew 130% YoY to around 700.

• MetaPanel Australia Q3 sales up 1,827% YoY; UK MetaXplore sales up 1,018% YoY, now 39% of UK GI test sales.

• Cash and equivalents at 31 March 2025 totaled $12.41m.

Outlook and guidance

• FY25 full-year revenue guidance is $15.25m–$16.25m, representing 26%–34% growth over FY24.

• Full market access for MetaXplore in the UK expected by end of June 2025; US entry planned with initial hires before end of 2025, focusing on a cash-pay model and future reimbursement.

• Focus on accelerating diagnostic sales in Australia and UK, and advancing US market entry and reimbursement.