Rhythm Biosciences Reports $3.83M Loss, Other Income Up 91%
Rhythm Biosciences has significantly reduced its annual loss by 44%, boosted by a 91% rise in other income, while launching a new wholly owned subsidiary, RHY GeneType Pty Ltd.
- 44% reduction in net loss to $3.83 million
- Other income nearly doubles, up 91% to $3.33 million
- Net tangible assets per share decline to negative 0.10 cents
- Incorporation of new subsidiary RHY GeneType Pty Ltd in December 2024
- Unqualified audit opinion confirms financial statement integrity
Financial Performance Highlights
Rhythm Biosciences Limited has reported a notable improvement in its financial results for the year ended 30 June 2025. The company’s loss after tax narrowed by 44% to $3.83 million, compared to a loss of $6.86 million in the previous year. This reduction in losses was supported by a substantial 91% increase in other income, which rose to $3.33 million from $1.74 million the year prior.
Despite this progress, the company’s net tangible assets per ordinary security slipped into negative territory, falling to minus 0.10 cents from a positive 0.14 cents previously. This suggests that while operational improvements are underway, the balance sheet still reflects challenges that Rhythm Biosciences must address.
Strategic Expansion with New Subsidiary
In a strategic move, Rhythm Biosciences incorporated a new 100% owned subsidiary, RHY GeneType Pty Ltd, in December 2024. While details on the subsidiary’s specific focus remain limited in the preliminary report, this development signals the company’s intent to expand its footprint within the biotechnology sector, potentially diversifying its research and commercial capabilities.
The creation of RHY GeneType Pty Ltd could be a pivotal step in Rhythm’s growth strategy, possibly aimed at accelerating innovation or entering new markets. Investors will be keen to see how this subsidiary contributes to future revenue streams and overall corporate value.
Governance and Outlook
The company’s financial statements have been audited with an unqualified opinion, providing assurance on the accuracy and reliability of the reported figures. No dividends were declared or paid during the year, reflecting Rhythm Biosciences’ focus on reinvestment and financial consolidation.
While the preliminary final report offers a snapshot of improved financial health and strategic initiatives, it leaves open questions about the operational drivers behind the income growth and the roadmap for returning to profitability. The attached annual report is expected to shed further light on these aspects.
Bottom Line?
Rhythm Biosciences’ improved loss metrics and new subsidiary launch set the stage for a critical growth phase, but tangible asset challenges remain.
Questions in the middle?
- What are the strategic objectives and planned activities of RHY GeneType Pty Ltd?
- How sustainable is the recent surge in other income, and what are its main sources?
- What measures will Rhythm Biosciences take to restore positive net tangible assets?
