Atomo Diagnostics Surges 121% Revenue, Expands Global Test Portfolio
Atomo Diagnostics reported a robust 121% quarter-on-quarter revenue increase to $1.5 million, driven by new orders for its FebriDx Pascal and HIV Self-Test products. The company also secured a global licensing deal for a novel liver function test and expanded manufacturing capacity to support growing demand.
- Revenue jumps 121% QoQ to $1.5 million
- Secures $500k HIV Self-Test order for Africa funded by Global Fund
- Exclusive global license signed for novel liver function test targeting drug-induced liver injury
- Operational expansion with increased blister production capacity in Sydney
- New international customers in UK and Canada for Pascal cassette
Strong Revenue Growth Signals Momentum
Atomo Diagnostics (ASX, AT1) has delivered a striking 121% increase in quarterly revenue, reaching $1.5 million in Q2 FY26. This surge reflects heightened demand for its flagship FebriDx Pascal rapid test platform and HIV Self-Test products, underscoring the company’s growing footprint in global health diagnostics. Customer receipts hit $1.17 million, complemented by $1.04 million in grants and tax incentives, leaving Atomo with a healthy cash balance of $3.51 million and no debt.
Strategic Licensing and Product Pipeline Expansion
In a significant development, Atomo secured an exclusive global licensing agreement for a novel liver function test designed to detect drug-induced liver injury through ALT measurement. This test, currently under evaluation by a major multinational pharmaceutical company in a US clinical trial, leverages Atomo’s Pascal cassette technology proven for point-of-care and home use. The deal positions Atomo at the forefront of liver injury monitoring, with potential applications spanning clinical trials, hepatitis treatment monitoring, and screening for fatty and alcoholic liver diseases affecting billions worldwide.
Broadening International Customer Base
Atomo’s commercial reach is expanding with new customers in the UK and Canada. The UK partner has placed an initial order for 20,000 Pascal cassettes to support validation and registration, with a supply agreement expected in Q3 FY26. Meanwhile, the Canadian customer has completed paid development work and is poised to place a commercial order shortly. These partnerships highlight growing international recognition of Pascal’s usability and reliability, particularly following positive US CLIA waiver study results.
Operational Enhancements to Support Growth
Operationally, Atomo has relocated its key Blister Machine-mk2 to a Sydney-based facility under direct company control, significantly boosting blister production capacity to approximately 12 million units annually. This move is expected to reduce costs and lead times, supporting scale-up for FebriDx and new customer orders. The company continues to maintain tight control over operating expenses, focusing investment on strategic growth opportunities.
Looking Ahead, Syphilis Test Trials and Market Expansion
Looking forward, Atomo is preparing to commence clinical trials for its active syphilis test in Q4 FY26. This test addresses a $1.4 billion market with a unique ability to distinguish active infections from prior treated cases, boasting superior specificity. Additionally, Atomo is bolstering its HIV Self-Test business with renewed Australian government funding and a dedicated commercial resource to drive growth in Australia, Europe, and Asia. The company’s strategic positioning in infectious disease self-testing aligns with rising public health priorities and post-pandemic market dynamics.
Bottom Line?
With robust revenue growth and strategic product expansions, Atomo is poised to deepen its impact on global diagnostics markets, next up, regulatory milestones and clinical trial outcomes will be key to watch.
Questions in the middle?
- When will the FebriDx CLIA waiver decision be finalized, and how will it impact US market access?
- What are the anticipated timelines and outcomes for the syphilis test clinical trials starting in Q4 FY26?
- How will Atomo scale production and distribution to meet growing international demand without compromising margins?
