Universal Biosensors, Inc. (ASX: $UBI) Q1 2024 Financial Report

Universal Biosensors, Inc. (UBI) (ASX: $UBI) has filed its Form 10-Q with the United States Securities and Exchange Commission for the quarterly period ended March 31, 2024. The report provides a comprehensive overview of the company's financial statements, including consolidated condensed balance sheets, statements of comprehensive income/(loss), changes in stockholders' equity, and cash flows.

Executive Commentary on Q1 2024 Financial Performance

The comprehensive information provided in the Form 10-Q offers investors and stakeholders valuable insights into UBI's financial performance and position for the first quarter of 2024.

Summary of UBI's Q1 2024 Financial Report

Universal Biosensors, Inc. (UBI) (ASX: $UBI) raised A$2.50 million through a placement and is set to raise A$10.00 million through a fully underwritten entitlement offer. The FDA approved the sale of Xprecia Prime into healthcare professional settings, leading to a 13% increase in total revenue in Q1 2024 compared to 2023. UBI's net loss after tax improved by A$0.35 million in Q1 2024 compared to Q1 2023. The company's financial statements and related disclosures are prepared in conformity with U.S. generally accepted accounting principles. UBI believes it has sufficient cash and cash equivalents to fund its operations for at least the next twelve months from the date of issuance.