• Significant growth in revenue and cash receipts on PCP
• Continued strong sales momentum for MetaXplore in Australia
• MetaPanel sales continuing to build across Australia

Microba Life Sciences Limited (ASX: MAP) reported its Q2 FY25 results, highlighting significant growth in revenue and cash receipts compared to the prior corresponding period. The company's Q2 revenue reached $4.43 million, up 102% year-over-year, while cash receipts grew 109% to $3.87 million. The strong performance was driven by continued momentum in the Australian testing business, led by the MetaXplore test. MetaXplore sales in Australia grew 195% year-over-year, with the number of ordering clinicians increasing by 105%. The company also saw record sales for its MetaPanel test in December, with a strong start to Q3 FY25. In the UK, Microba's Invivo Clinical business is transitioning to a new growth phase, with the early access program for MetaXplore delivering clinician referral rates similar to Australia, providing validation to accelerate towards full market access in the second half of FY25. On the therapeutics front, Microba continued to advance its pipeline, with the Inflammatory Bowel Disease program progressing MAP 315 to Phase 2, the Immuno-Oncology program growing its clinical data and sample set to over 5,500 patients, and the Autoimmune program generating pre-clinical data supporting lead activity.

Microba's key areas of focus include continuing momentum in diagnostic sales growth and clinical adoption in Australia, accelerating MetaXplore to full market access in the UK, and progressing the US reimbursement path for MetaPanel. On the therapeutics side, the company will focus on advancing its IBD therapeutic Phase 2 trial and exploring therapeutic asset partnering opportunities.