Pacific Edge's latest financial performance

Pacific Edge (ASX:PEB), a company specializing in bladder cancer diagnostics, has disclosed its financial results for the six months ending 30 September 2024. The company is working to drive growth with its Cxbladder test amidst Medicare uncertainties. The results show a slight decrease in total revenue and an increase in net loss compared to the previous period.

Key takeaways and future plans

Pacific Edge is navigating Medicare uncertainties while focusing on profitable territories and operational efficiencies. The company is awaiting crucial decisions on Medicare coverage for its Cxbladder Triage Plus test, which could influence future revenue streams. Despite current financial challenges, Pacific Edge is optimistic about the broader launch of Triage Plus in 2025. Strategic efforts include enhancing the digital experience through Lumea integration and pursuing international expansion. Ongoing clinical studies aim to support coverage considerations, potentially impacting standard care practices. The company's prudent cash management and focus on non-Medicare revenue streams are pivotal as it looks to renew growth in the US market.

Executive insights on financial outcomes

Operating revenue increased by 1.4% compared to the second half of 2024 to $11.0 million but decreased by 16.3% compared to the first half of 2024. Total revenue decreased by 4.4% compared to the second half of 2024 to $12.2 million. Net loss after tax was $14.5 million, slightly up from the $14.3 million loss in the second half of 2024 but down 4.9% from the first half of 2024. Cash and cash equivalents were reported at $35.9 million, with a cash burn of $14.3 million in the first half of 2025.