• Momentum building with $20M in new contracts awarded in H1FY25
• Significant shift to higher margin Advanced Therapies sales
• Recommissioned facilities to support expected sales growth
• Strong balance sheet following capital raise and new loan facility

IDT Australia reported a strong first half of the 2025 financial year, with revenue jumping 83% year-over-year to $10.5M - the highest level since the company's strategic transformation program over two years ago. The standout performer was the Advanced Therapies pillar, which saw a 1,116% increase in revenue to $3.9M on typically higher margins compared to the company's other verticals. IDT also saw a 658% increase in reimbursement revenue, which underpins future Advanced Therapies revenues linked to existing contracts. The company was successful in winning approximately $20M in new contracts during H1FY25, including $12.9M in Q2. The majority of these new contracts are for drugs entering initial testing phases, providing IDT with the opportunity to secure follow-on work and larger orders as these programs progress towards commercialization. IDT's focus on higher value, complex products like mRNA and ADCs, as well as its expertise in mental health treatments, are driving the company's growth. The company has also been successful in recommissioning facilities to support the expected sales growth, with two more facilities underway in FY25. IDT's strong balance sheet, bolstered by a $6.5M capital raise and a $20M asset-based loan facility, positions the company well to capitalize on the growing demand for its services.

IDT expects to post significantly stronger full year results in FY25, driven by the $20M in new contracts awarded in H1FY25 and the potential for further contract wins in H2FY25 following $17.8M in proposals submitted in Q2FY25. The company is on track to be operating cash flow positive in the near-term.

IDT is well-positioned for continued growth, with multiple tailwinds including Australia's global attractiveness for clinical trials, growing demand for advanced therapies like mRNA and ADCs, and the company's unique world-leading facilities and expertise. The increasing levels of repeat business as clients' assets progress from early-stage to commercialization also provide a strong foundation for future growth.