Daily Roundup

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Cogstate Reports Strong 1H25 Results

Cogstate Ltd (ASX:CGS) is starting the new year on a high note, delivering impressive financial results for the first half of fiscal year 2025. The company reported a 27% surge in Clinical Trials revenue, which now accounts for a whopping 95% of Cogstate's total revenue.

But the good news doesn't stop there. Cogstate also saw its Gross Profit Margin and EBIT Margin remain consistent with the second half of FY24, showcasing the company's ability to drive efficiency gains through smart technology investments. And with a cash balance of $34.2 million at the end of December, up from $30.1 million six months prior, Cogstate is in a strong position to continue funding its growth initiatives.

The company's Alzheimer's business remains a key focus, but Cogstate is also making strides in diversifying its portfolio, with increased sales opportunities across a range of indications and trial phases. Partnerships are also playing a bigger role, accounting for 36% of total sales opportunities in the first half.

Looking ahead, Cogstate is optimistic about the growth potential in its Clinical Trials business, buoyed by the expansion of its offering, improved funding environment for U.S. biotech firms, and the power of its channel partnerships. The Alzheimer's market in particular represents a "generational opportunity" for the company.

Biome Australia Delivers Impressive Q2 Results

Biome Australia Limited (ASX:BIO) is kicking off 2025 on a high note, reporting strong financial results for the second quarter of the fiscal year. The company achieved record quarterly sales revenue of $4.61 million, up an impressive 41% compared to the same period a year ago.

But the good news doesn't stop there. Biome also reported positive EBITDA of $234,000 for Q2, a 92% increase from the previous quarter. And the company maintained a healthy gross margin above 60% throughout the period.

Biome's CEO had this to say: "We're really proud of the progress we've made. Our Vision 27 strategic plan is firing on all cylinders, and we're carefully managing our costs to drive strong growth in both sales revenue and EBITDA."

Indeed, Biome expects to report its first net profit in the upcoming half-year results for H1 FY25. Shareholders will no doubt be eager to see the company reach this important milestone.

Who Dat West Exploration Well Comes Up Dry

Karoon Energy (ASX:KAR) has some mixed news to report from its recent drilling campaign in the Gulf of Mexico. The company's Who Dat West exploration well has reached total depth, but unfortunately, no significant hydrocarbon-bearing intervals were found in the drilled section.

As a result, the well will now be plugged and permanently abandoned. However, the high-quality data acquired during the drilling process will be integrated into the joint venture's assessment of the remaining prospectivity in the area.

The Who Dat West well was the final well in Karoon's 2024 exploration and appraisal campaign, which did result in important discoveries at the Who Dat East and Who Dat South locations. With the drilling now complete, the joint venture partners will turn their attention to evaluating potential development options for those successful wells.

QuickFee Continues Impressive Growth Trajectory

It's been another strong quarter for QuickFee Limited (ASX:QFE), with the fintech company reporting record quarterly revenue of A$6.2 million, up 22% year-over-year.

QuickFee's core Finance product continues to drive growth, but the company is also seeing increasing traction with its Connect platform. The number of firms signed up for Connect jumped 38% quarter-on-quarter to reach 95 at the end of December.

The company is also making headway in expanding beyond its traditional accounting and bookkeeping verticals, gaining ground in areas like legal, government contracting, and executive search.

QuickFee remains on track to deliver FY25 EBTDA in the range of A$1.5 to A$2.5 million, with the second half of the year expected to be stronger. Shareholders will be eager to see the company reach profitability, which it achieved for the first time in Q2.

EMVision Receives $2.12 Million R&D Tax Rebate

And finally, some good news for EMVision Medical Devices (ASX:EMV). The company has received a A$2.12 million cash rebate from the Australian government's R&D Tax Incentive Program for eligible research and development activities conducted during the 2024 financial year.

EMVision noted that some R&D costs were capitalized and are expected to be eligible for rebate in subsequent claims. This additional funding will no doubt provide a welcome boost as the company continues to advance its medical imaging technology.