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Microba Life Sciences Limited (ASX:MAP)

ALERT: Price-sensitive ASX Announcement for MAP
Current share price for MAP : $0.039 -0.005 (-11.36%)+
Announcement
Release
20 Oct 2026 9:35AM
Price at Release
$0.044
Full Release
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Summary
Microba Life Sciences Limited’s Q1 FY27 Quarterly Activities Report and Appendix 4C for the quarter ended 30 September 2026 reported record core testing revenue of $2.57 million, up 31% on the prior corresponding period, with core test volume rising 32% to 6,527 and Australian Microbiome Explorer tests up 44% to 5,589, while total revenue was $3.44 million, down 4% due to the exit of legacy and distributed products; after quarter end, Microba launched GI Navigator in Australia and the United Kingdom on 7 October 2026 as a full microbiome and gut test for complex gastrointestinal symptoms, with more than 150 early access orders and over 400 practitioners on the waitlist, and also released Microbiome Explorer 3.0; UK diagnostic volumes were softer, Invivo own-brand supplement revenue grew 6% to $0.70 million, and the company began an advisory process for a potential sale of the Invivo Supplements business; Microba said it had reduced annualised cash operating costs by about $5 million versus FY26 and planned a further $3 million reduction, while the Appendix 4C showed customer receipts of $4.271 million, net operating cash outflow of $3.801 million, investing outflow of $0.729 million, financing inflow of $0.466 million, closing cash of $3.866 million and estimated funding of 1.02 quarters, alongside details of a post-quarter $2.025 million placement, existing secured equipment and R&D loan facilities, and management’s expectation that operations would continue supported by cost reductions, funding initiatives and ongoing growth in core testing revenue.
Key Points
  • Quarter ended 30 September 2026 and announcement dated 20 October 2026.
  • GI Navigator was launched on 7 October 2026 in Australia and the United Kingdom as a full microbiome and gut test for complex gastrointestinal symptoms.
  • More than 150 GI Navigator early access tests were ordered and over 400 practitioners joined the waitlist.
  • Record core test volume was 6,527, up 32% versus the prior corresponding period and 3% quarter on quarter.
  • Record core testing revenue was $2.57 million, up 31% versus the prior corresponding period.
  • Total revenue was $3.44 million, down 4% versus the prior corresponding period and down 16% quarter on quarter.
  • Australian Microbiome Explorer tests sold were 5,589, up 44% versus the prior corresponding period.
  • Ordering clinicians in Australia increased 15% to 963 and tests per clinician rose 25% to 5.8.
  • New Australian Microbiome Explorer pricing took effect on 1 September 2026, with list prices increased across Essentials, Extended and Comprehensive products.
  • United Kingdom Microbiome Explorer tests sold were 725, down 7% versus the prior corresponding period.
  • Microbiome Explorer 3.0 was rolled out in September with a one-page report, Species in Marker and additional evidence-graded interventions.
  • Invivo own-brand supplement revenue was $0.70 million, up 6% versus the prior corresponding period.
  • Microba is commencing an advisory process for a potential sale of the Invivo Supplements business.
  • Cash receipts from customers were $4.271 million in the quarter.
  • Net cash used in operating activities was $3.801 million.
  • Net cash used in investing activities was $0.729 million, including intellectual property payments of $0.725 million.
  • Net cash from financing activities was $0.466 million.
  • Cash and cash equivalents at 30 September 2026 were $3.866 million.
  • Estimated funding available was 1.02 quarters under Appendix 4C.
  • Annualised cash operating costs were reduced by about $5 million compared with FY26, with a further $3 million of annualised reductions planned.
  • After quarter end, Microba received firm commitments for a $2.025 million placement at $0.04 per share.
  • On 25 September 2026, Geoff Cockerill was appointed Interim Chief Executive Officer.
  • Microba and Genetic Signatures announced a proposed merger on 22 September 2026.
  • Payments to related parties and associates totalled $106,464, comprising director fees and consulting fees.
  • Financing facilities totalled $2.734 million, consisting of an equipment loan and an R&D loan facility.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.