Lumos Diagnostics has released its Quarterly Report & 4C for the period ending 30 June 2024.
Key Highlights from the Fourth Quarter include:
- Positive cash flow for the quarter of US$3.1 million, with the cash balance as at 30 June 2024 of US$6.5 million.
- Unaudited revenue of US$4.3 million for the quarter, up 8% compared to the prior quarter (Q3 FY24 - US$4.0 million).
- Unaudited revenue of US$11.1 million for FY24, up 6% compared to the prior FY23 year of US$10.5 million.
- The Services business grew strongly through the quarter, with revenue up 21% on Q3.
- Cash receipts of US$7.4 million for the quarter (Q3 FY24 US$6.7 million), including US$5.0 million non-refundable payment from Hologic under the IP Agreement.
- Key “Phase 1 Milestone” of the Hologic fFN Development Agreement achieved and the US$0.4 million milestone payment received.
- Post reporting date, Lumos expanded its FebriDx distribution agreements with Henry Schein in Australia, New Zealand and Belgium.
Lumos CEO, Doug Ward noted:
“It was pleasing to see our efforts rewarded in the second half of FY24, with the momentum continuing to build. The Hologic Agreement, announced in January 2024, helped position Lumos on a solid footing. Supported by positive cashflow generation in the final two quarters of the year, our balance sheet finished in great shape with US$6.5 million cash in the bank. I am very optimistic about the future outlook for Lumos and look forward to providing further positive updates to the market over the course of the year.”
