• Revenue down 5% to A$6.3 million
• Loss of A$14.2 million, up 111% from prior year
• Raised A$11.5 million in capital through private placement and entitlement offer

Universal Biosensors, Inc. reported its financial results for the year ended December 31, 2024. Revenue was down 5% to A$6.3 million, while the loss for the year amounted to A$14.2 million, up 111% from the prior year loss of A$6.7 million. The company continued to invest in the development of new products and technologies across various industries including oncology, oenology and heavy metals testing. Key developments during the year included the development of a handheld water testing platform called AQUASCOUT, which is expected to be launched in the first half of 2025. The company also raised A$2.5 million through a private placement and A$10.0 million through a fully underwritten entitlement offer, with the total amount raised net of issuance costs being A$11.5 million. In addition, the company received FDA 510(k) and CLIA Waiver approval for its Xprecia Prime coagulation testing device, allowing it to be sold into healthcare professional settings in the U.S.