Pacific Edge Limited ( (PFGTF) ) has released its Q2 earnings. Here is a breakdown of the information Pacific Edge Limited presented to its investors.
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Pacific Edge Limited is a healthcare company based in New Zealand that specializes in the research, development, and commercialization of diagnostic and prognostic tools for the early detection and management of cancers, focusing primarily on bladder cancer diagnostics.
In its latest earnings report for the six months ended 30 September 2024, Pacific Edge Limited reported a decrease in total revenue and other income to NZD 12.2 million from NZD 16.6 million in the previous year, alongside a reduced net loss before tax of NZD 14.5 million compared to NZD 15.3 million in the prior comparable period.
Key financial metrics showed a decline in operating revenue to NZD 10.9 million, down from NZD 13.1 million in the previous year. The company’s total operating expenses also fell, amounting to NZD 26.7 million from NZD 31.8 million. Despite the decrease in expenses, Pacific Edge continues to face challenges in achieving profitability, as reflected in a comprehensive loss attributable to equity holders of NZD 14.7 million.
Looking forward, Pacific Edge Limited remains focused on mitigating reimbursement risks in the US market, which significantly impacts its revenue. The management is actively engaged in initiatives to validate and commercialize new products while maintaining sufficient liquidity to meet its obligations and ensure business continuity.
