TruScreen Projects NZ$2.8m Sales in FY26, Up from NZ$1.7m in FY25

TruScreen’s FY25 Performance and FY26 Outlook

TruScreen Group Limited, a dual-listed life sciences company on the ASX and NZX, reported FY25 sales of NZ$1.7 million, down from NZ$2.1 million in FY24. This decline was primarily due to delays in key programs across Zimbabwe, Vietnam, Indonesia, and Uzbekistan, with many of these initiatives now expected to contribute to revenue in FY26.

Looking ahead, TruScreen projects a significant rebound with FY26 sales forecast to exceed NZ$2.8 million, representing a 64% increase year-on-year. This optimistic outlook is underpinned by resumed public screening programs, new market entries, and strategic partnerships that broaden the company’s product offering and geographic reach.

Strategic Market Expansion in Emerging Economies

The company’s growth strategy focuses on emerging markets with limited cervical cancer screening infrastructure, including China, Vietnam, Indonesia, India, Zimbabwe, and Uzbekistan. China remains the cornerstone of TruScreen’s expansion, accounting for over 85% of global sales. The company’s distributor in China, Beijing Siweixiangtai Technology Co Ltd, is targeting six populous provinces with a combined population of nearly 500 million and an addressable market of approximately 124 million women of screening age.

Vietnam has also emerged as a key market, with TruScreen selected to screen 260,000 women over five years in Ho Chi Minh City’s public health program. This initiative aligns with Vietnam’s national goal to increase cervical cancer screening coverage from 25% to 60% among women aged 30 to 54.

In Indonesia, TruScreen has completed product registration and appointed PT Mawar Mitra Medika as its distributor, commencing commercial sales in May 2025. Similarly, the company re-entered the Indian market with the appointment of Renovate Biologicals Pvt Ltd, expanding its presence in one of the world’s largest populations with a critical need for cervical cancer screening.

Innovative Technology and Clinical Validation

TruScreen’s AI-enabled cervical cancer screening device offers real-time results within minutes, a significant advantage over traditional Pap tests that can take days or weeks. The technology uses a handheld device with a disposable Single Use Sensor to detect abnormal cervical cells through opto-electronic signals analyzed by an integrated AI algorithm.

Clinical studies involving over 40,000 women have demonstrated TruScreen’s superior sensitivity and specificity compared to conventional screening methods like Liquid Based Cytology and HPV DNA testing. The company’s technology has received recognition from global health authorities including the World Health Organization and UNITAID, further validating its role in improving cervical cancer screening in resource-limited settings.

Strategic Partnerships and Product Diversification

In February 2025, TruScreen signed a memorandum of understanding with Hangzhou Dalton Bioscience to distribute HPV-related in vitro diagnostic products globally, excluding the US and Canada. This partnership complements TruScreen’s device sales by adding DNA tests and self-sampling products to its portfolio, enhancing its position in women’s health diagnostics.

The company is also targeting government and NGO-funded screening programs in Zimbabwe, Vietnam, Mexico, and Uzbekistan, which are expected to contribute over 20% of total sales in FY26. These programs represent a shift towards recurring revenue through large-scale public health initiatives.

Capital Raising and Shareholder Incentives

Alongside its operational updates, TruScreen announced a placement and share purchase plan to raise capital, with attached unlisted options for eligible investors. These options provide shareholders with the opportunity to subscribe for additional shares at a set exercise price within one year, supporting the company’s growth initiatives and market expansion efforts.