• Total unaudited quarterly revenue nearly doubles vs. pcp to $5.3 million
• First half unaudited revenue expected to increase 82% over pcp to $10.5 million
• Growth largely driven by significant increase in the Advanced Therapies business

IDT Australia Limited (ASX: IDT) has reported a significant increase in unaudited quarterly revenue for the three months ended 31 December 2024 (Q2FY25). Preliminary unaudited revenue for the quarter increased by 97.7% to $5.3 million over the previous corresponding period (pcp), marking the third consecutive record high for quarterly revenue since IDT embarked on its strategic transformation program over two years ago. IDT's unaudited total revenue for the first half of financial year 2025 is expected to increase 82% over the pcp to $10.5 million. The growth has been largely driven by a significant increase in the Advanced Therapies business, which saw unaudited revenue in the quarter of $2.5 million compared to $136 thousand in the pcp, a 1,765% increase. The Specialty Orals business saw a 26.4% decline in unaudited revenue to $523 thousand, while the Active Pharmaceutical Ingredient (API) Manufacturing business declined 83.7% to $264 thousand. IDT secured $12.9 million in new contracts for the quarter, mainly from returning customers and US-based customers, and submitted 20 customer proposals valued at $17.8 million. The strong pipeline and IDT's track record in securing contracts support expectations that FY25 full-year results will comfortably surpass that of the prior year.

IDT expects its first half FY25 unaudited revenue to increase 82% over the previous corresponding period to $10.5 million.

IDT's strong pipeline of new contracts and proposals, as well as its track record in securing contracts, support expectations that the company's FY25 full-year results will comfortably surpass that of the prior year.