Universal Biosensors, Inc.

ASX:UBI

Universal Biosensors, Inc.

ASX:UBI
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$0.014 (0%)
Last close price
#507
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3
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Forum Topics UBI UBI Financials

Pinned straw:
laoshi
Added 2 years ago

Admittedly these financials are a lag to the last announcement of the first $1M month but at $1.6M total for the quarter and a burn of $5.15M albeit including $1.8M non recurring and $1.2M on inventory the revenue was below expectation and the SP took a hit down around 20%. No detail on progress of various products.

The Company spent $1.8m during the period on non-recurring capital items and product development, including costs relating to the FDA application for Xprecia Prime. The Company also spent $1.2m on inventory relating to new products launched in markets around the world.

Sales for H2 2023 were up 55% on H1 2023

PinchOfSalt
Added 2 years ago

There could be some adverse timings in a single quarter. Perhaps there were some lumpy sales receipts in the prior quarter with suppliers getting paid in this quarter.

Nevertheless, last time I looked, UBI needed about $2.7M / qtr to break even and this is trending in the wrong direction.

At the last qtr burn rate they are out of cash in two quarters. If we add back the one-offs, they've got 3 quarters to make good, ie end of calendar 2024 else need a CR. That's why the SP tumbled. They can't afford another bad quarter and the chance of a really good one seems remote.

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