Genetic Signatures Posts $15.9M Revenue, $20.1M Loss Amid Leadership and Strategy Shift

Financial Performance and Market Momentum

Genetic Signatures Limited has delivered a notable 62.8% increase in revenues for the financial year ended 30 June 2025, reaching $15.9 million. This growth was primarily fuelled by robust sales of respiratory diagnostic kits in Australia and a 40% revenue increase in the EMEA region, particularly the UK, where NHS trusts have adopted the company's enteric test kits to support infection control.

Despite this commercial momentum, the company recorded a net loss after tax of $20.1 million, a 12.6% increase from the previous year. The loss reflects ongoing investments in strategic transformation, including an impairment charge of nearly $7 million related to the discontinuation of the Next Generation Instrument development.

Strategic and Operational Transformation

The year marked a significant pivot in Genetic Signatures’ strategy. Under the leadership of newly appointed CEO Allison Rossiter, the company streamlined its product portfolio to focus on core areas with the greatest market potential and patient impact. A key strategic shift was the decision to cease internal development of a proprietary automated instrument, opting instead to collaborate with established industry leaders Tecan Group and Repado to deliver a scalable, fully automated sample-to-answer diagnostic platform.

This three-way partnership leverages Tecan’s liquid handling automation, Repado’s compliant IVD software, and Genetic Signatures’ proprietary 3base® assay technology. The integrated platform aims to enhance laboratory efficiency and compliance, with initial systems targeted for select global reference laboratories within 24 months.

Commercial Progress and Market Outlook

The EasyScreen™ Gastrointestinal Parasite Detection Kit, which secured FDA clearance in June 2024, represents a cornerstone of the company’s US growth strategy. While initial commercial traction has been slower than anticipated, the signing of the first commercial agreement and completion of customer validation signal positive momentum heading into FY26. The US team has been restructured with new leadership to sharpen the go-to-market approach.

Meanwhile, Australia continues to deliver strong revenue, supported by high demand for respiratory pathogen testing amid ongoing viral outbreaks. The EMEA region’s focused approach has yielded growth, with efforts underway to expand distribution partnerships in key markets.

Leadership and Governance Renewal

FY25 saw a refresh of Genetic Signatures’ leadership and board composition. Caroline Waldron took over as Chair, succeeding a long-serving predecessor, while two new independent directors joined the board, bringing fresh perspectives. CEO Allison Rossiter’s appointment in September 2024 has been pivotal in driving the company’s strategic realignment and operational discipline.

The company also updated its mission and values, emphasizing patient-centric innovation and a culture of boldness, collaboration, and ownership, reflecting its renewed strategic focus.

Financial Position and Risk Management

Genetic Signatures remains in a solid financial position with $30.9 million in cash and term deposits and no debt. The company reported operating cash outflows of $12.3 million, reflecting investments in inventory and development programs. Key risks highlighted include competitive pressures, regulatory compliance challenges, supply chain dependencies, and the need to successfully commercialize new products and platforms.

Looking ahead, the company aims to accelerate US commercialization of the EasyScreen™ kit, expand its EMEA footprint, and complete development of its automated diagnostic platform, positioning itself for sustainable growth.