Universal Biosensors Prepares Capital Raise and Launches New Water Testing Device
Universal Biosensors reports solid growth in its wine testing segment and outlines plans for a capital raise alongside the upcoming AQUASCOUT water testing device launch.
- Plans for capital raise in next quarter with details pending
- Sentia wine testing devices and test strips sales grow by 7-8%
- Xprecia blood testing devices show modest growth; test strips sales decline due to lost tender
- 12 new distribution agreements in 2024 and ongoing tender activity in Europe
- AQUASCOUT handheld water testing device targeting H2 2025 launch
Q1 2025 Business Update
Universal Biosensors (ASX: UBI) has provided a comprehensive update on its operations for the first quarter of 2025, highlighting steady growth in its core biosensor products and outlining strategic plans for capital raising and new product launches. The company is preparing to raise capital within the next quarter, although the exact amount and structure remain to be finalised.
Growth momentum was particularly evident in the Sentia wine testing segment, where device numbers in the market increased by 7% quarter-on-quarter, accompanied by an 8% rise in test strip sales. This performance was driven by a revitalised sales team, improvements in assay technology, and a more focused sales strategy including increased trade show presence.
Mixed Performance in Blood Testing Segment
The Xprecia blood testing devices saw a modest 1% increase in devices deployed, but test strip sales declined by 13% compared to the previous quarter. This drop is attributed to the loss of a customer tender in Spain late last year, although supply continued through Q4 2024. Despite this setback, Universal Biosensors has been actively expanding its footprint with 12 new distribution agreements signed in 2024 and three more so far in 2025. The company is also engaged in multiple tender processes across Europe, with one tender won, ten ongoing, and fourteen upcoming opportunities.
Innovating with AQUASCOUT Water Testing Device
Looking ahead, Universal Biosensors is advancing its AQUASCOUT handheld water testing platform, designed to detect heavy metals such as lead and copper in water samples on-site. This product aims to disrupt traditional laboratory testing by offering immediate, portable, and cost-effective results with comparable accuracy. AQUASCOUT is currently in beta testing and is scheduled for commercial launch in the second half of 2025, targeting water utilities, governments, and industries concerned with environmental and public health compliance.
Financial and Leadership Overview
As of March 31, 2025, Universal Biosensors held AUD 4.9 million in cash with a market capitalisation of approximately AUD 14.9 million. The company’s leadership team includes CEO and Managing Director Peter Mullin, supported by a board with extensive experience in medical technology and investment management. This leadership depth is expected to guide UBI through its upcoming capital raise and product expansion phases.
Overall, Universal Biosensors is positioning itself to leverage its biosensor technology across multiple sectors, balancing steady operational growth with innovation in environmental testing.
Bottom Line?
With a capital raise on the horizon and AQUASCOUT’s launch approaching, Universal Biosensors is poised for a pivotal year ahead.
Questions in the middle?
- What will be the size and terms of the upcoming capital raise?
- How will AQUASCOUT’s market entry impact Universal Biosensors’ revenue streams?
- Can the company recover test strip sales in the blood testing segment amid competitive tender pressures?
