Microba Reports 102% Revenue Growth, MetaXplore Sales Surge 195% in Australia

Robust Financial Growth

Microba Life Sciences Limited (ASX: MAP) has delivered a strong performance in the second quarter of fiscal year 2025, reporting a 102% increase in revenue to $4.43 million compared to the previous corresponding period. Cash receipts also rose impressively by 109% to $3.87 million, underscoring the company’s growing market traction.

CEO Dr Luke Reid highlighted the sustained sales momentum, particularly for the MetaXplore gastrointestinal microbiome test in Australia, which saw a 195% increase in tests sold year-on-year. This growth was supported by a 105% rise in the number of ordering clinicians, reflecting expanding clinical adoption and confidence in Microba’s diagnostic offerings.

Australian Market Leadership

MetaXplore’s performance in Australia remains a cornerstone of Microba’s business, with 2,560 tests sold in Q2 FY25. The company achieved record monthly sales in October and November, defying typical seasonal declines in December. Additionally, the MetaPanel test, targeting gastrointestinal pathogens, reached a milestone of 575 tests sold since its launch, with December marking a record sales month.

These results are underpinned by targeted clinician education, strategic field sales, and product enhancements such as expert summaries and report sharing, which have strengthened the test’s clinical utility and practitioner engagement.

UK Expansion Gains Traction

Microba’s UK operations, through its Invivo Clinical acquisition, are transitioning into a new growth phase. MetaXplore was introduced via an Early Access Program in October 2024, with clinician referral rates mirroring those seen in Australia. This early success has validated plans to expand clinician access and accelerate full market entry in the second half of FY25.

Supplement sales in the UK remain robust, with 32,833 units sold, although test sales experienced a slight decline of 11% compared to the prior year. The company is optimistic about the UK market’s potential as it leverages its established clinical network and the proven efficacy of its diagnostic products.

Therapeutic Pipeline Progress

Beyond diagnostics, Microba continues to advance its therapeutic programs targeting major chronic diseases linked to the gut microbiome. The inflammatory bowel disease (IBD) program is progressing towards Phase 2 clinical trials, while the immuno-oncology program has expanded its clinical data set to over 5,500 patients. Preclinical work in autoimmune diseases and allergy treatments also continues, supported by strategic partnerships and non-dilutive funding opportunities.

Microba’s integration of advanced AI and machine learning technologies underpins its precision live biotherapeutics development, positioning the company at the forefront of next-generation microbiome therapeutics.

Outlook and Market Position

With a market capitalization of approximately $143 million and a cash balance of $17.3 million as of December 31, 2024, Microba is well-positioned to capitalize on the growing global demand for microbiome-based diagnostics and therapeutics. The company’s partnerships with leading pathology providers such as Sonic Healthcare and SYNLAB further enhance its distribution capabilities and clinical reach.

As Microba accelerates its UK market penetration and advances its therapeutic pipeline, investors will be watching closely to see how these developments translate into sustained revenue growth and clinical impact.