Genetic Signatures reported a stable half-year revenue of $8.7 million for 1H FY26, with improved net losses and growing international customer engagement, particularly in the US and UK markets.
- Revenue steady at $8.7 million, driven by Australian respiratory testing and international markets
- Net loss improved to $6.4 million, aided by cost discipline and R&D tax incentives
- New US contracted customers onboarded, with a third expected to start testing soon
- Ongoing NHS trust collaborations in the UK support infection control with GI test kits
- Leadership changes include appointment of Maria Halasz as CEO and interim Managing Director Anne Lockwood
Stable Revenue Amid Seasonal Demand
Genetic Signatures has delivered a steady financial performance for the first half of fiscal 2026, reporting revenue of $8.7 million, broadly in line with the previous corresponding period. This consistency was largely underpinned by robust respiratory testing demand in Australia during the winter months, complemented by contributions from the EMEA region and the United States.
Improved Profitability Despite Rising Costs
Gross profit declined slightly to $4.8 million, reflecting a margin dip to 55.7% from 58.8% a year earlier, primarily due to increased costs of consumables and raw materials for respiratory test kits. However, the company’s focus on cost discipline and an uptick in other income; mainly from the Research and Development Tax Incentive program; helped reduce the net loss to $6.4 million, down from $8.4 million in 1H FY25.
Expanding Footprint in US and UK Markets
Genetic Signatures is making tangible progress in its international expansion strategy. In the US, the company onboarded a second contracted customer during the half, with a third poised to commence testing imminently. These early deployments are serving as reference sites, demonstrating clinical and operational value that could drive further sales growth.
Meanwhile, in the UK, ongoing collaborations with multiple NHS trusts are advancing the use of the company’s gastrointestinal viral, bacterial, and parasite test kits in hospital settings. These engagements not only support infection control and outbreak prevention but also generate valuable clinical data to bolster future market penetration across the EMEA region.
Innovation and Leadership Transition
On the innovation front, Genetic Signatures continues development of a new instrument and software platform in partnership with Tecan Group and Repado. This next-generation system aims to enhance workflow optimisation and laboratory analytics, with an expanded syndromic testing menu informed by extensive market feedback.
Leadership changes are also underway, with Maria Halasz appointed as CEO effective March 2026, bringing extensive life sciences commercialisation experience. Anne Lockwood has been named interim Managing Director to ensure continuity during this transition, while Dr Susanne Pedersen joins as Chief Technology Officer, adding deep expertise in molecular diagnostics.
Outlook and Strategic Review
The company remains focused on strengthening its domestic base while accelerating global growth, particularly in the US market where customer uptake is gaining momentum. Concurrently, the Board has initiated a strategic review aimed at maximising shareholder value, signalling a period of potential transformation ahead.
Bottom Line?
Genetic Signatures’ steady progress and leadership renewal set the stage for a pivotal year of global expansion and strategic refinement.
Questions in the middle?
- How will the new CEO’s leadership influence the pace of international growth?
- What impact will the strategic review have on the company’s operational focus and capital allocation?
- When can investors expect commercial launch and revenue contribution from the new instrument and software platform?