Genetic Signatures Ltd. ( (AU:GSS) ) has shared an update.
Genetic Signatures Ltd. reported a significant 136% increase in sales for the first half of FY25, reaching $8.5 million, driven by strong respiratory sales in Australia. The company improved its gross margin to 59% and reduced its underlying loss by 20% compared to the previous year. Despite a statutory loss of $15.2 million due to a $6.8 million impairment expense, Genetic Signatures secured its first US commercial contract, marking a strategic expansion into the US market. The company has shifted its strategic direction towards developing a more cost-effective and faster-to-market automated solution, ceasing the development of its Next Generation instrument. This new approach is expected to enhance its syndromic infectious disease testing capabilities, leveraging its 3base technology.
More about Genetic Signatures Ltd.
Genetic Signatures Ltd. is a global molecular diagnostics company specializing in the development of innovative diagnostic solutions. The company focuses on providing advanced diagnostic tests using its proprietary 3base technology, particularly in the areas of infectious diseases. With a strong emphasis on automation and efficiency, Genetic Signatures aims to deliver actionable insights for healthcare professionals and patients worldwide.
YTD Price Performance: -20.63%
Average Trading Volume: 95,368
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$113.6M
For an in-depth examination of GSS stock, go to TipRanks’ Stock Analysis page.
Trending Articles:
Questions or Comments about the article? Write to editor@tipranks.com