Pacific Edge (PEB) H2 2026 earnings summary

Executive summary

• FY 2026 operating revenue was $11.5 million, down 47.4% year-over-year due to Medicare non-coverage and US product transition, resulting in a net loss after tax of $35.8 million.

• Cash burn reduced to $2.4 million per month in H2 FY 2026, with $7.8 million cash at year-end.

• $25.4 million capital raise completed post-year end, with a $6 million retail offer underway to strengthen the balance sheet.

• Draft Medicare coverage for Triage and Triage Plus marks a major inflection point, enabling claim-by-claim reimbursement and improved commercial prospects.

• Strategic focus on commercial execution, leveraging clinical evidence and EMR integrations to drive adoption and expand APAC presence.

Financial highlights

• Operating revenue fell to $11.5 million from $21.8 million year-over-year, with global test volumes down 16.3% to 24,190 and commercial tests down 23.8% to 18,783.

• Net loss after tax increased to $35.8 million, with 2H26 net loss at $16.7 million, lower than 1H26's $19.1 million.

• Operating expenses reduced by 9.5% year-over-year, with sales and marketing down 13.2%.

• Net cash at year-end was $7.8 million, bolstered by the subsequent capital raise.

• Cash receipts from customers dropped 38.7% year-over-year to $13.2 million.

Outlook and guidance

• Final Medicare coverage for Triage and Triage Plus expected by end of 2026, reducing reimbursement uncertainty.

• Focus on scaling higher-margin Triage Plus at $1,328 per test and leveraging new clinical evidence for guideline inclusion.

• Claim-by-claim reimbursement for Triage and Triage Plus expected to accelerate revenue as Medicare and commercial payers adopt coverage.

• APAC operations trending toward profitability, with further improvement targeted from product mix and pricing.

• Ongoing investment in product innovation, simplification, and international expansion through kit-based IVDs.