Universal Biosensors update on sales forecast and key developments

Universal Biosensors, Inc. (ASX:$UBI) is anticipating a significant milestone as it forecasts sales orders in December to exceed $1,000,000, marking its largest revenue month ever. The company has secured its largest order for Xprecia Prime devices from India, with 520 devices scheduled for delivery in December. Additionally, UBI has submitted its comprehensive response to the FDA's 'Request for Additional Information' and anticipates an FDA decision regarding the approval of Xprecia Prime for sale in the USA during Q1 2024.

Executive commentary on sales forecast and market performance

Mr John Sharman, CEO of UBI, expressed optimism about the company's performance, stating, 'December is forecast to be UBI's biggest revenue month ever and is the first time we expect to record $1,000,000 from selling our products directly to customers (excluding Siemens). Six of UBI's new products have been in the market for approximately 6 months, and sales growth during H2 2023 has been strong compared with H1 2023. We now have 11 revenue generating products in the market and we are starting to build sales momentum.'

Summary of Universal Biosensors update and future outlook

Universal Biosensors (UBI) is poised to achieve a significant sales milestone with the forecast of sales orders exceeding $1,000,000 in December, representing the company's largest revenue month to date. The receipt of the largest order for Xprecia Prime devices from India further underscores UBI's market expansion. Moreover, the submission of a comprehensive response to the FDA's query positions UBI for a potential FDA decision on the approval of Xprecia Prime for sale in the USA during Q1 2024. With a strong sales growth in the second half of 2023 and 11 revenue generating products in the market, UBI is optimistic about building sales momentum and capitalizing on its market opportunities. The company's focus on developing biosensors in large markets aligns with its ambition to generate ongoing revenue streams, reflecting a positive outlook for its corporate strategy and future performance.