Atomo Diagnostics released there Quarterly Activity Report Q2 FY22:

Highlights include:

• Increase in RAT test sales: Omicron variant, led to increasing demand for COVID-19 rapid antigen tests
• Cash receipts: quarterly cash receipts of $7.3m, H1 cash receipts in total $9.5m (PCP H1 FY21 of $5.8m).
• Revenue: Quarterly revenue from customers of $4.6m (full year FY21 was $6.7m)
• Debt free with $13.7m cash on hand

In addition, a further announcement was released stating the company has received approval to sell COVID-19 rapid antigen tests to NZ. This includes NZ District Health Board hospitals, Government agencies, the healthcare workforce, New Zealand-based businesses and pharmacies.

They have also announced 5 October 2021 that it had renegotiated its supply agreement with US manufacturer Access Bio providing the right, but not the obligation, for Atomo to purchase at a fixed price per unit up to 20 million COVID-19 rapid antigen tests (Atomo branded) during CY22 for sale in Australia and New Zealand.

Disc: not held

I need to do more research, I am not sure yet how potentially 20m rapid antigen tests translate into revenue/earning for FY22.

NOTE: Current market cap is $120m

07-May-2020:  Atomo receives additional order for COVID-19 test devices

Atomo receives additional order for COVID-19 test devices - Takes total COVID-19 test orders to 1.369 million 

Australian rapid blood test company Atomo Diagnostics Limited (ASX: AT1) is pleased to announce that it has received an additional unscheduled purchase order from French diagnostics company, NG Biotech, SAS (NG Biotech) to supply a further 422,000 integrated blood test devices for the rapid blood based testing of antibodies produced in response to COVID-19.  
 
The additional order for the period through to 31 July 2020, follows earlier purchase orders totaling 947,200 devices, received between late March and mid-April. It takes the total number of devices ordered by NG Biotech over the last six weeks to 1.369 million.  
 
Atomo Co-Founder and Managing Director John Kelly said, “We are excited about continuing to scale up our supply to NG Biotech as it starts to rollout the COVID-19 rapid test in France. We remain in active discussions with NG Biotech regarding the potential expansion of our COVID-19 partnership across other territories and intended uses.”  
 
The NG Biotech rapid test is CE Marked for professional use for COVID-19 testing in Europe.

Results are obtained from a drop of blood in 15 minutes and indicate if the person has antibodies in their blood as a result of having been infected with the virus.  
 
“Discussions with two US-based companies in relation to commercialisation of COVID-19 tests (subject to FDA approval) are progressing positively and we continue to have discussions related to the supply of COVID-19 tests to the Australian market,” Mr Kelly said. 
 
Atomo's planned expansion of its production capacity in order to meet the anticipated ongoing demand for its rapid test devices is making substantial progress, with the first phase of additional capacity scheduled to come online in July this year and further capacity increases due during the second half of 2020. 

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