Latest news with #PacificEdge
Yahoo
9 hours ago
- Business
- Yahoo
Pacific Edge Ltd (PFGTF) (FY 2025) Earnings Call Highlights: Navigating Revenue Challenges and ...
Operating Revenue: $21.8 million for FY25, down 8.6% from the prior year. Cash and Cash Equivalents: $22.6 million as of March 31, 2025. Average Sales Price (ASP): Increased to $594 from $584 in the previous year. Operating Expenses: Down 7.3% year-over-year. Research Costs: Increased by 21% year-over-year. Sales and Marketing Costs: Reduced by 31% year-over-year. Non-Medicare Revenues: Represent 57% of US volumes. Tests Per Sales FTE: Increased, indicating improved efficiency. Cash Burn: Largely flat half-on-half. Capital Raise: Announced $20 million on ASX and NZX platforms. Warning! GuruFocus has detected 7 Warning Signs with PFGTF. Release Date: May 29, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Pacific Edge Ltd (PFGTF) has achieved inclusion in the AUA's microhematuria guideline, marking a significant strategic milestone for the company. Non-Medicare revenues have increased and now represent 57% of US volumes, indicating a successful diversification of revenue sources. The company has established a higher draft CMS pricing for Triage Plus at $1,018 per test, which is an improvement over the previous $760 per test. Pacific Edge Ltd (PFGTF) has a strong relationship with Kaiser Permanente, contributing to growth in US commercial volumes. The company is focused on innovation and product development, including the development of IVD kits for international markets. There has been an 11% reduction in the number of global tests operated, impacting operating revenue. The company faces challenges with Medicare coverage, including an adverse Local Coverage Determination that has affected revenue. Operating revenue for the financial year '25 was down 8.6% compared to the prior year. The reduction in the US sales force has impacted revenue, with a significant reduction in sales and marketing costs by 31% year-on-year. There is uncertainty regarding the timeline for Medicare recoverage, which could impact future financial performance. Q: Could you quantify the impact on US commercial test volumes post coverage loss? Was it down 20% or more? A: Peter Meintjes, Chief Executive Officer: We haven't published that figure, but we estimate the reduction to be less than 20%. Q: With 40% of revenue coming from Medicare, should we expect a decline due to the payer mix shift? A: Peter Meintjes, Chief Executive Officer: We anticipate a greater percentage of commercially insured or private payers in our mix going forward, especially for Triage, which skews younger than the Medicare population. Q: Can you provide an update on the cost base and how it might change? A: Peter Meintjes, Chief Executive Officer: The cost base is expected to remain about the same. We will continue to look for ways to reduce unnecessary costs, but you can model it as being roughly the same. Q: Is there still room for growth with Kaiser, particularly in Southern California? A: Peter Meintjes, Chief Executive Officer: Yes, there is room to grow. We have seen steady growth since the EMR integration, and there are still doctors not using it on all their patients. The finance department at Kaiser is recognizing savings, which is a positive sign. Q: How are urologists responding to the guideline inclusion of Triage, and what are the ordering patterns post-announcement? A: Peter Meintjes, Chief Executive Officer: Feedback has been overwhelmingly positive, especially from new users and existing Detect users transitioning to Triage. The guideline inclusion has been well-received, and we expect to grow volume soon. Q: How should we think about research costs in FY26 and beyond? A: Peter Meintjes, Chief Executive Officer: We don't foresee an increase in research costs. We have a series of trials planned, but we expect costs to remain stable. Q: If CMS coverage is achieved, is the current capital raise sufficient to reach breakeven? A: Peter Meintjes, Chief Executive Officer: It depends on how quickly we achieve recoverage and other variables like the success of our commercial payer strategy and sales force efficiency. If recoverage is quick, the chances of having sufficient capital increase. Q: Will the clinical guidelines impact the legal liability for users of Cxbladder? A: Peter Meintjes, Chief Executive Officer: The inclusion in guidelines reduces legal exposure for physicians using Cxbladder, as it aligns with recommended practices. However, stronger language in future guidelines could further mitigate liability. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
a day ago
- Business
- Yahoo
Pacific Edge Full Year 2025 Earnings: Revenues Beat Expectations, EPS Lags
Revenue: NZ$24.7m (down 2.2% from FY 2024). Net loss: NZ$29.9m (loss widened by 1.4% from FY 2024). NZ$0.037 loss per share (further deteriorated from NZ$0.036 loss in FY 2024). AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 11%. Looking ahead, revenue is expected to decline by 25% p.a. on average during the next 2 years, while revenues in the Biotechs industry in Oceania are expected to grow by 8.6%. Performance of the market in New Zealand. The company's share price is broadly unchanged from a week ago. Be aware that Pacific Edge is showing 3 warning signs in our investment analysis and 1 of those doesn't sit too well with us... Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Scoop
2 days ago
- Business
- Scoop
Pacific Edge Reports Resilient Performance In FY25
Press Release – Pacific Edge Pacific Edge also announces a NZ$20 million equity raising to capitalize on recent clinical and commercial milestones, grow in non-Medicare channels and regain Medicare coverage. The details of the capital raising are covered in a separate announcement … AUDITED FINANCIAL RESULTS FOR THE YEAR TO 31 MARCH 2025 30 May 2025 Pacific Edge today reports a resilient financial result for the year to the end of March 2025. Improvements in the performance of the sales force, operating efficiencies and cash collection gains over the financial year have positioned the company well as it works towards regaining Medicare coverage of its tests. Pacific Edge today also announces a NZ$20 million equity raising to capitalize on recent clinical and commercial milestones, grow in non-Medicare channels and regain Medicare coverage. The details of the capital raising are covered in a separate announcement to the NZX and ASX today. FY25 FINANCIAL PERFORMANCE2 Operating revenue down 8.6% on FY 24 to $21.8 million, reflecting Medicare uncertainty. Total revenue is down 16% on FY 24 to $24.6 million Total laboratory throughput3 (TLT) of Cxbladder tests fell 11.5% on FY 24 to 28,894; commercial tests fell 9.9% on FY 24 to 26,42 tests Tests/Sales FTE in the US for Q4 25 were reported at 405.6, up 6.4% on Q4 24; ASP4 for all commercial tests in the US increases to US$594 in FY 25 vs US$584 in FY 24 as operating efficiencies and cash collection gains continue to improve Strong performance from the Southern California Permanente Medical Group, increased APAC volume and sustained sales force efficiencies reduce the impact of Medicare uncertainty and the reduced sales team reach Net loss after tax +1.4% on FY 24 to $29.9 million, 2H 25 net loss +6.4% on 1H 25 led by increased expenditure on clinical research, Triage Plus commercialization and legal fees Cash, cash equivalents and short-term deposits of $22.6 million at the end of FY25; cash burn of $13.4 million in 2H 25 down 6.7% on 1H 25 FY 25 STRATEGIC PERFORMANCE Cxbladder Triage included in the American Urological Association (AUA) guidelines with a 'Grade A' evidence rating, the only biomarker to achieve this status Triage Plus achieves a draft Medicare price of US$1,018.44, a significant premium to the current US$760 per test; full scale commercial launch is now contingent on re-coverage Medicare coverage discontinued following Genetic Tests for Oncology (Specific Tests) (L39365) becoming effective after balance date (24 April 2025); Pacific Edge is now focused on regaining coverage for Triage and Monitor and obtaining coverage and launch of new products Triage Plus and Monitor Plus Commercial team focused on profitable territories, non-Medicare revenue streams and selling the clinical and economic value of Cxbladder; Cxbladder Detect discontinued FY25 Climate Disclosures released in compliance with NZCS NOTE: PEB HAS RELEASED THIS UPDATE TO THE NZX AND ASX AS PER LISTING RULES [1] 1 PEB has released the information contained in this update to the NZX and ASX as it regards it to be material, as defined in the NZX Listing Rules and Section 231 of the FMC Act. 2 All comparisons are to the same period of the prior financial year unless otherwise stated. 3 Total Laboratory Throughput (TLT) includes commercial, pre-commercial and clinical studies testing. 4 ASP: US Average Sales Price (US Operating Revenue in USD / US Commercial Test Volumes)
Scoop
2 days ago
- Business
- Scoop
Pacific Edge Reports Resilient Performance In FY25
AUDITED FINANCIAL RESULTS FOR THE YEAR TO 31 MARCH 2025 30 May 2025 Pacific Edge today reports a resilient financial result for the year to the end of March 2025. Improvements in the performance of the sales force, operating efficiencies and cash collection gains over the financial year have positioned the company well as it works towards regaining Medicare coverage of its tests. Pacific Edge today also announces a NZ$20 million equity raising to capitalize on recent clinical and commercial milestones, grow in non-Medicare channels and regain Medicare coverage. The details of the capital raising are covered in a separate announcement to the NZX and ASX today. FY25 FINANCIAL PERFORMANCE2 Operating revenue down 8.6% on FY 24 to $21.8 million, reflecting Medicare uncertainty. Total revenue is down 16% on FY 24 to $24.6 million Total laboratory throughput3 (TLT) of Cxbladder tests fell 11.5% on FY 24 to 28,894; commercial tests fell 9.9% on FY 24 to 26,42 tests Tests/Sales FTE in the US for Q4 25 were reported at 405.6, up 6.4% on Q4 24; ASP4 for all commercial tests in the US increases to US$594 in FY 25 vs US$584 in FY 24 as operating efficiencies and cash collection gains continue to improve Strong performance from the Southern California Permanente Medical Group, increased APAC volume and sustained sales force efficiencies reduce the impact of Medicare uncertainty and the reduced sales team reach Net loss after tax +1.4% on FY 24 to $29.9 million, 2H 25 net loss +6.4% on 1H 25 led by increased expenditure on clinical research, Triage Plus commercialization and legal fees Cash, cash equivalents and short-term deposits of $22.6 million at the end of FY25; cash burn of $13.4 million in 2H 25 down 6.7% on 1H 25 FY 25 STRATEGIC PERFORMANCE Cxbladder Triage included in the American Urological Association (AUA) guidelines with a 'Grade A' evidence rating, the only biomarker to achieve this status Triage Plus achieves a draft Medicare price of US$1,018.44, a significant premium to the current US$760 per test; full scale commercial launch is now contingent on re-coverage Medicare coverage discontinued following Genetic Tests for Oncology (Specific Tests) (L39365) becoming effective after balance date (24 April 2025); Pacific Edge is now focused on regaining coverage for Triage and Monitor and obtaining coverage and launch of new products Triage Plus and Monitor Plus Commercial team focused on profitable territories, non-Medicare revenue streams and selling the clinical and economic value of Cxbladder; Cxbladder Detect discontinued FY25 Climate Disclosures released in compliance with NZCS NOTE: PEB HAS RELEASED THIS UPDATE TO THE NZX AND ASX AS PER LISTING RULES [1] 1 PEB has released the information contained in this update to the NZX and ASX as it regards it to be material, as defined in the NZX Listing Rules and Section 231 of the FMC Act. 2 All comparisons are to the same period of the prior financial year unless otherwise stated. 3 Total Laboratory Throughput (TLT) includes commercial, pre-commercial and clinical studies testing. 4 ASP: US Average Sales Price (US Operating Revenue in USD / US Commercial Test Volumes)
Otago Daily Times
3 days ago
- Business
- Otago Daily Times
‘Resilient' Pacific Edge announces capital raise
Cancer diagnostics company Pacific Edge has announced a $20 million capital raise in tandem with what it describes as a "resilient" full-year financial result. In a statement yesterday, the listed company said the equity raising was about ensuring it had the cash reserves to capitalise on recent clinical and commercial milestones, grow in non-Medicare channels and regain Medicare coverage of its tests. Total revenue was down 16% to $24.6 million while an after tax net loss of $29.9 million was up 1.4%. Total laboratory throughput of Cxbladder tests fell 11.5% on FY24 to 28,894 while commercial tests fell 9.9%. Medicare coverage discontinued in April and Pacific Edge was now focused on regaining coverage for its Triage and Monitor products and obtaining coverage and launch of new products Triage Plus and Monitor Plus. Chairman Chris Gallaher said while the adverse determination was a significant disappointment, it should not overshadow the major strategic progress made over the past year. Cxbladder Triage was included in the American Urological Association's new microhematuria guideline with a grade-A evidence rating, the only biomarker to receive that level of endorsement. With the US Centers for Medicare & Medicaid Services (CMS) announcing a draft price of US$1,018.44 for Cxbladder Triage Plus — a significant premium over the current US$760 price for Pacific Edge's existing tests — the company was positioned for "a rapid acceleration of revenue growth" in the United States once Medicare coverage was achieved, Mr Gallaher said. While confident it would regain coverage for Triage, the company said there were no guarantees as to the timing or outcome of the re-coverage process — it could be delayed or not achieved at all. Chief executive Dr Peter Meintjes said the AUA guideline cemented Pacific Edge's position as the market leader in non-invasive bladder cancer diagnostics. In combination with evidence not considered during the finalisation of the determination, the guideline put the company in a strong position to regain Medicare coverage for Cxbladder Triage. The capital raise comprised a placement of $NZ15 million of new ordinary shares to be offered to selected investors and an offer of $NZ5 million of new shares to retail investors, by way of a share-purchase plan. The share issue was priced at $NZ0.10 per share. Mr Gallaher said the new capital would support the company and its operations for over 12 months, giving Pacific Edge the ability to grow testing volume as it worked to regain coverage through planned Medicare reconsideration requests and challenging the non-coverage of Cxbladder Triage through the Medicare appeals process. All of Pacific Edge's directors and senior management intended to participate in the equity raising.
