• Achieved FDA 510(k) and CLIA Waiver approval for Xprecia Prime in the US
• Signed new distribution deals globally for Xprecia, Sentia, and Petrackr products
• Resolving issues with Sentia Free SO2 test strips, restoring sales momentum

Universal Biosensors, a leading developer of handheld, high-performance liquid testing products, presented its FY2024 annual results. The company achieved key milestones, including FDA 510(k) and CLIA Waiver approval for its Xprecia Prime blood testing device in the US, and signed new distribution deals globally for its Xprecia, Sentia, and Petrackr product lines. In the blood testing segment, the company recorded 10% year-on-year revenue growth and expanded its device install base by 127%. In wine testing, the Sentia platform saw 29% growth in test strip revenue, though an issue with the Free SO2 test strips temporarily impacted Q2 sales. The company has since resolved the issue and restored sales momentum. In the veterinary testing segment, the company shifted its focus to direct-to-consumer channels, resulting in a 78% decline in test strip revenue but a 31% increase in device installations. Looking ahead, the company is concentrating on expanding its US presence for Xprecia, driving growth in key markets for Sentia, and optimizing its Petrackr direct-to-consumer strategy. The company is also preparing to launch its new AQUASCOUT environmental testing device, which will be the first in a suite of products focused on heavy metals and impurities in water.

The company expects to maintain its revenue growth trajectory in FY2025, driven by continued expansion of its Xprecia, Sentia, and Petrackr product lines. No specific financial targets were provided.

Universal Biosensors is focused on commercializing its world-class technology and leveraging its existing infrastructure to drive sales and margins. The company is exploring various funding options, including licensing arrangements, distribution deals, strategic investments, and structured financing, to support the launch of its new environmental testing products and further strengthen its financial position.