Universal Biosensors Q1 2025 Sales Up 6% with 32% Surge in Wine Biosensors

Universal Biosensors’ Market Position and Technology

Universal Biosensors (ASX:UBI) continues to solidify its position as a global leader in electrochemical biosensor technology. With over a decade of research and development behind it, the company has developed a portfolio of portable, handheld devices that serve four distinct markets: blood testing, wine testing, veterinary testing, and water testing. Each product leverages the company’s proprietary electrochemical cell technology to deliver rapid, precise, and cost-effective analysis at the point of use.

The company’s flagship products include Xprecia, a blood coagulation analyzer; Sentia, a portable wine chemistry analyzer; Petrackr, a veterinary blood glucose monitor; and Aquascout, a forthcoming water testing device targeting heavy metals. These products are designed to meet critical needs in healthcare, agriculture, environmental monitoring, and food production.

Q1 2025 Sales Performance and Market Dynamics

In the first quarter of 2025, Universal Biosensors reported a 6% increase in total sales compared to the same period last year. This growth was largely driven by a 32% surge in Sentia sales and an impressive 168% jump in Petrackr sales, reflecting strong adoption in the wine and veterinary sectors. However, Xprecia sales declined by 9%, primarily due to the loss of a significant customer in Spain in late 2023, although supply continued through Q3 2024. The Hemostasis Reference Laboratory (HRL), a strategic asset for calibrating blood testing strips, saw a 22% sales decline, highlighting ongoing challenges in external testing services.

Sentia’s unique capability to measure six key analytes throughout the wine production process has positioned it as a disruptive technology with no direct competition. The product is now sold in over 30 countries, with a total addressable market estimated at AUD 221 million annually. Meanwhile, Petrackr’s veterinary focus on diabetic cats and dogs has found traction through new direct-to-consumer channels, including partnerships with Amazon and Chewy.

Addressing Past Challenges and Strategic Initiatives

Universal Biosensors faced several hurdles in 2024, including a major overhaul of its sales and marketing team, distribution strategy setbacks, and regulatory delays, particularly with the FDA approval process for Xprecia in the USA. Many of these issues have been resolved, with middleware connectivity for Xprecia implemented and distribution logistics stabilized. The company is now focusing on accelerating device adoption, enhancing customer engagement, and refining pricing strategies to drive higher usage rates, especially for Sentia.

For Xprecia, the company is positioning itself as a strong challenger to Roche in the blood coagulation testing market, emphasizing its device’s superior performance and value proposition. Efforts include winning new tenders in Europe and strengthening partnerships with distributors such as NDC and Henry Schein in the USA.

Looking Ahead: Aquascout and Growth Prospects

Perhaps the most anticipated development is the upcoming launch of Aquascout, a handheld water testing platform designed to detect heavy metals like lead and copper in water samples. Currently in beta testing, Aquascout is slated for commercial release in Q4 2025. This product targets a substantial market opportunity valued at nearly AUD 2.7 billion annually across utilities, mining, industrial waste, and consumer segments. Its portability, immediate results, and wireless data transfer capabilities promise to revolutionize water quality monitoring.

Universal Biosensors is confident that with its scalable operational capabilities and a talented, recently refreshed sales team, it is well-positioned to capitalize on these opportunities. The company aims to reach cashflow breakeven and profitability in the near term, leveraging its validated products and expanding market penetration.