TruScreen’s FY2025 Revenue Drops 19%, Loss Widens to NZ$2.2m

Financial Performance and Challenges

TruScreen Group Limited, a medical device company specialising in cervical cancer screening technology, has released its preliminary unaudited results for the year ended 31 March 2025. The company recorded product sales of NZ$1.7 million, down 19% from NZ$2.1 million in the previous year. This decline was primarily attributed to delays in key market rollouts, including Vietnam and Zimbabwe, as well as postponed product registrations in Indonesia and Uzbekistan.

Despite efforts to reduce overheads, TruScreen posted a net loss of NZ$2.2 million, slightly higher than the NZ$2.0 million loss in FY2024. The margin contraction to 30.1% from 32.7% reflected the impact of the delayed programs and a lower research and development tax offset. Additional costs related to regulatory approvals, facility relocation, and increased travel further weighed on the bottom line.

Strategic Market Expansion and Alliances

On the operational front, TruScreen continues to focus on expanding its footprint in emerging markets. China remains the dominant market, accounting for over 85% of global sales, with targeted growth in six key provinces. The company’s distributor in China, Beijing Siweixiangtai Technology Ltd., is actively pursuing expansion into private health sectors and public health insurance reimbursement programs, which are expected to accelerate sales.

In February 2025, TruScreen signed a memorandum of understanding with Hangzhou Dalton Bioscience to form a strategic alliance aimed at broadening its product portfolio with HPV DNA tests and laboratory equipment. This partnership is set to enhance distribution channels, particularly in China and South America.

Notably, TruScreen re-entered the Indian market with the appointment of Renovate Biologicals Pvt Ltd in April 2025, positioning the company in one of the world’s largest and most underserved cervical cancer screening markets. Additionally, a five-year public screening program was launched in Ho Chi Minh City, Vietnam, targeting 260,000 women, while commercial activities commenced in Indonesia following product registration.

Validation and Recognition

TruScreen’s technology continues to gain validation from independent clinical studies and endorsements by global health authorities. The World Health Organization and UNITAID have recognized TruScreen as a leading AI-enabled cervical cancer screening solution suitable for low- and middle-income countries. Recent peer-reviewed studies have demonstrated the device’s superior sensitivity and specificity compared to traditional Pap smears, reinforcing its clinical credibility.

Outlook and Corporate Developments

Looking ahead, TruScreen expects FY2026 revenue to exceed NZ$2.8 million, driven by resumed government screening programs in Zimbabwe, the Vietnam public health initiative, and initial sales in India and Indonesia. The company also anticipates revenue contributions from DaltonBio’s HPV test kits and analyzers. Operational efficiencies and cost-saving measures implemented in FY2025 are expected to support improved financial performance.

Corporate governance saw the appointment of Dr. Cheung as Chair of the Technology Committee, bringing extensive medical device expertise to the board. The company also transitioned its auditor to Hall Chadwick NZ Limited, signaling a renewed focus on financial oversight.