Microba Life Sciences (MAP) Q3 2026 earnings summary

Executive summary

• Achieved 99% year-on-year growth in core testing revenue and 58% growth in core test volumes for Q3 FY26, reaching an annualized run rate of over 23,000 tests and on track for over 24,000 FY26 core test volume and regional break-even.

• Expanded clinical adoption in Australia and the UK, signing 27 key accounts with an estimated ordering potential of over 19,500 tests per year, and UK adoption outpacing Australia at the same stage post-launch.

• Record Q3 Microbiome Explorer test sales: 4,786 in Australia and 816 in the UK, with strong clinician engagement and account activation.

• Discontinued legacy products to focus on core testing and own-brand supplements, supporting recurring revenue growth.

• Major new product release and Clinical Integration Platform planned for Q1 FY27 and Q4 FY26, respectively, expected to expand addressable market and drive further adoption.

Financial highlights

• Q3 FY26 core testing revenue was $2.1m, up 99% year-on-year; total revenue was $3.36m, down 2% year-on-year.

• Microbiome Explorer sales in Australia reached 4,786 tests (up 58% YoY), and in the UK 816 tests (annualized run rate ~3,000), with 66 ordering clinicians.

• Invivo-branded supplement revenue in the UK was $0.68m, up 7% YoY, with PHGG prebiotic supplement volumes up 161% YoY and over 800 subscribers.

• Cash and equivalents at quarter end were $7.28m; cash receipts for Q3 FY26 were $3.98m, up 11% quarter-on-quarter.

• Deferred revenue for Microbiome Explorer reached $1.55m at 31 March 2026, up 62% year-on-year.

Outlook and guidance

• Targeting over 24,000 core test volumes for FY26, with Q4 expected to be the strongest quarter and regional break-even by year-end.

• Major new diagnostic product and Clinical Integration Platform releases planned for Q1 FY27 and Q4 FY26, respectively, to expand market reach.

• Group EBITDA break-even targeted within three years, assuming continued clinical adoption and market penetration.

• Intensified partnering in therapeutics, leveraging positive clinical trial readouts.