The Company also released details regarding its results for the quarter ended March 31, 2025: Revenue was $7.6m which was in line with the Company’s previously issued guidance. Gross profit was $1.9m. Operating loss was $6.5m before net financing expense of $2.3m. The Company expects a significant quarter-on-quarter increase in revenue to a range of approximately $11 million to approximately $12 million in Q2, 2025 as manufacturing under the Company’s revised operational structure, including outsourced & offshored manufacturing, ramps up and normalised demand for rapid HIV tests returned in the latter part of the quarter. The Company expects a further significant quarter-on-quarter increase in revenue in Q3, 2025 as the Company resumes manufacture and supply of its flagship rapid HIV test, TrinScreen HIV, underpinned by its recently announced World Health Organisation approval of its offshored and outsourced manufacturing.
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