• Quarterly sales of $3.8 million, up 190% year-over-year
• Receipt of $5.1 million from R&D tax incentive
• US sales cycles longer than expected but progressing positively

Genetic Signatures Ltd reported quarterly sales of $3.8 million, an increase of 190% on the prior corresponding period, driven by strong respiratory testing rates in Australia as well as implementation of the EasyScreen Enteric Detection Kits for infection control in the UK. Receipts from customers for the quarter were $3.3 million, a 60.3% increase on the prior corresponding period. The company received $5.1 million under the Australian Research and Development Tax Incentive. Net operating cash outflow was $0.3 million for the quarter. The company's focus has been on driving the sales cycle in the US for the EasyScreen Gastrointestinal Parasite Detection Kit, with instruments installed and test validation completed at several US customer sites. While the sales cycles are progressing, procurement activities are underway as hospitals and laboratories could only initiate procurement once the EasyScreen Respiratory Pathogen Detection Kit received FDA clearance. Genetic Signatures remains confident that these laboratories and hospitals are likely to commence regular purchasing of the Detection Kits for ongoing, routine commercial testing. The company's R&D efforts have focused on improving workflow to increase automation and decrease hands-on time, as well as longer-term projects to improve sample processing and assays to further increase sensitivity and performance of the 3base technology. The company completed its planned Board renewal during the quarter. As of 31 December 2024, Genetic Signatures held a cash balance of $40.8 million.

The company remains focused on expanding its market presence, particularly in the US following FDA clearance, which is a key pillar of its growth strategy. The strong cash position of $40.8 million enables continued support of the team and activities to achieve this success, as well as continuing to innovate in assay development, workflow enhancements and software.