Genetic Signatures Posts $15.9M Revenue, Cuts Underlying Loss by 28%
Genetic Signatures reported a 63% revenue increase to $15.9 million in FY25, alongside a 28% reduction in underlying losses and a strategic shift in its automated diagnostics platform development.
- 63% revenue growth to $15.9 million driven by Australian respiratory sales
- Underlying loss reduced by 28% to $12.7 million despite $7 million impairment
- First US commercial contract secured post FDA clearance
- Strategic partnerships with Tecan Group and Repado to develop automated platform
- Leadership renewal and operational restructuring to support growth
Robust Revenue Growth Amid Operational Transformation
Genetic Signatures (ASX, GSS) delivered a transformative FY25, posting a 63% jump in revenue to $15.9 million. This growth was primarily fuelled by strong respiratory-related sales in Australia, where the company successfully scaled testing workflows to meet heightened demand during the winter season. International sales, notably in the UK and Ireland, contributed 9.2% of revenue, reflecting positive momentum in the EMEA region.
Despite reporting a statutory loss of $20.1 million, which included a $7 million impairment charge mainly related to discontinuing its Next Generation instrument development, the company improved its underlying loss by 28% to $12.7 million. This improvement underscores disciplined cost management and a sharpened focus on core business operations.
Strategic Shift in Automated Platform Development
In a significant strategic pivot, Genetic Signatures halted in-house development of its Next Generation instrument after reassessing market trends and customer needs. Instead, it forged partnerships with Tecan Group and Repado Ltd to customise existing liquid handling platforms and develop advanced control software. This approach promises a faster, lower-cost, and lower-risk path to market, with the integrated hardware-software solution expected within 24 months and an investment of $4–5 million.
The company is concurrently conducting a market assessment to define a high-impact infectious disease menu leveraging its proprietary 3base® technology, aiming for a strong launch in key global markets. Meanwhile, efforts continue to optimise current workflows and enhance automation for existing products.
Expanding Footprint in the US and EMEA
Genetic Signatures marked a milestone by securing its first US commercial contract for the EasyScreen™ Gastrointestinal Parasite Detection Kit, which received FDA clearance in June 2024. This kit offers broad pathogen coverage and is expected to generate revenue starting FY26. The US commercial team underwent leadership changes to sharpen its market approach, with CEO Allison Rossiter taking an active role in key opportunities.
In the EMEA region, the company streamlined operations to focus on high-impact geographies, resulting in 40% year-on-year growth. Adoption by multiple NHS Hospital Trusts in the UK has been particularly impactful, supporting infection control and preventing costly hospital ward closures.
Strengthened Financial Position and Leadership Renewal
Genetic Signatures ended FY25 with a solid cash position of $30.9 million and zero debt, providing a strong foundation for future growth. The company also completed a planned board renewal, appointing Caroline Waldron as Chair and adding two new non-executive directors, while Allison Rossiter stepped in as CEO in September 2024. These leadership changes align with the company’s refreshed mission to place patients at the centre of its innovation efforts.
Bottom Line?
With a clear strategic focus and strengthened financial footing, Genetic Signatures is poised to accelerate its global expansion and technological innovation.
Questions in the middle?
- How quickly will the new automated platform reach commercialisation and impact revenue?
- What is the growth outlook for the US market following the first commercial contract?
- How will the company balance investment in innovation with disciplined cost management going forward?
