Earnings release
Page 1
ASX Announcement October 29, 2026 Quarterly Activity Report Q1 FY27 Atomo expands and solidifies product pipeline and posts solid revenue growth • Atomo signs agreement for Generation 4 HIV product development program with Innovation Scientific, adding to Atomo’s proprietary product pipeline1 • Atomo and Upfront Diagnostics announce partnership2 for rapid brain disease test • Atomo’s Active Syphilis successfully completes technology transfer to manufacturing as preparation s progress for clinical trials to begin in the new calendar year • Atomo achieved s olid revenue growth of 140% over Q1 2026 with revenue of $1.63 million • FebriDx® orders were strong in the quarter, achieving $680k with 314% year over year growth • Cash receipts were $2.51m, comprising $2.40m from customers, and $84k received from the CRC-P Active Syphilis grant, and cash on hand at quarter-end of $2.67m SYDNEY Australia, 29 October 2026 – Atomo Diagnostics Limited (ASX: AT1) ( Atomo) is pleased to release its Appendix 4C and quarterly activity report for the three months ended 30 September 2026 (Q1 FY27).
Page 2
Advancing Atomo’s Own Proprietary Product Pipeline NEW Generation 4 HIV test with Innovation Scientific Atomo is expanding its proprietary rapid -testing portfolio, leveraging its Galileo cassette platform, and pursuing a partnership model to accelerate product development while creating a new revenue stream. After the close yesterday, Atomo and Innovation Scientific signed a Memorandum of Understanding (MOU) to develop a Generation 4 HIV rapid test1. Under the MOU, Innovation Scientific will advance the development work, analytical studies, c linical studies, and regulatory preparation for the new assay. Atomo will manufacture and supply its Galileo sub-assembly cassettes to Innovation Scientific, who will add their proprietary Gen 4 assay strip and buffer, and deliver a final packaged product. By the end of 3Q27, the Parties expect to negotiate global license, development and supply agreements detailing the specific commercial and financial terms. Fourth-generation HIV tests are designed to detect both HIV-1/2 antibodies and the HIV-1 p24 antigen. The addition of p24 antigen detection can enable earlier identification of infections compared with antibody -only third -generation tests, depending on the test's performance, specimen type and stage of infection. Gen 4 rapid tests use lateral -flow technology to detect these biomarkers in a blood sample, delivering results at the point of care without conventional laboratory equipment. The Gen 4 HIV test will expand Atomo’s global franchise in HIV testing, strategically complementing Atomo's existing Gen 3 HIV and Active Syphilis portfolio, broadening its offering across HIV screening, earlier infection detection and sexually transmitted infection (STI) testing. Together, the expanded portfolio is intended to strengthen Atomo’s position with healthcare providers, self -test markets, professional markets, public -health programs, and distribution partners seeking integrated HIV/STI screening solutions in decentrali sed testing locations. If the program moves forward as expected, Atomo hopes to commercially launch product in 18-24 months. Active Syphilis Test successfully transferred to manufacturing in preparation of upcoming clinical trials Atomo’s Active Syphilis Test is a 15 -minute lateral flow test designed for home -based and professional healthcare prac titioner-guided self-testing for the diagnos is of active cases of syphilis and addresse s a key gap in current testing by detecting infectious syphilis and
Page 3
distinguishing infectious cases from previously treated cases. In early clinical testing, Active Syphilis Test achieved 100% sensitivity against the active syphilis samples by clinical history (condition present). The test showed 99% specificity against never-infected patients and 93% specificity against previously treated cases with clinical history. The program is on schedule as Atomo is now preparing to engage with key regulators including the Australian TGA, the US FDA , and BSI for Europe as Atomo has completed transfer activities for test strip manufacturing from Burnet Institute in Melbourne to Cape Town to support production builds for clinical trials expected to commence early next year. Atomo is targeting commercial launch within 18–24 months as the program progresses toward its next milestones. OEM Supply Business Announcing Upfront Diagnostic’s rapid brain disease test Atomo Diagnostics and Upfront Diagnostics are announcing a partnership2 for LVTwo, Upfront's next -generation rapid brain disease test. LVTwo detects brain disease using a proprietary panel of blood biomarkers and is designed to be used before a patient reaches the hospital, enabling faster triage and treatment. Atomo will suppl y a key component of the LVTwo test and has already supplied 9000 sub-assemblies supporting Upfront's development and validation activities. Solid growth of FebriDx® in the quarter The Lumos Diagnostics OEM partnership provided strong revenue growth of 314% year over year as Lumos completes inventory stock for this upcoming flu season. Pascal has demonstrated outstanding performance in US clinical studies for FebriDx®’s US CLIA waiver program, delivering greater than 99% concordance between trained and untrained users across the studies. Financials Total revenue (unaudited) was $1,628k for Q1 FY27, comprising $630k of HIV test sales (39% growth) and $ 938k Lumos and other OEM (469% growth). The quarter was positively impacted by the earlier closure of revenue originally expected in Q2 FY27.
Page 4
Gross Profit was $424k (unaudited), with lower gross margin due to product mix (more LMIC HIV business and little development revenue). Operating costs for Q1 FY2 7 were $ 1.9m (unaudited) reflecting a continuing focus on managing costs in the business . This is further offset with CRC-P income recognised for Active Syphilis development of ~$150k. As a result, EBITDA was negative $1.3m in the quarter (unaudited). Cash receipts during the quarter were $2.51m, comprising of $2.4m receipts from customers, and $84k from a milestone payment received from the CRC -P Active Syphilis grant. Atomo finished the quarter debt-free, with cash on hand at quarter-end of $2.67m. Dr. Walker’s interim CEO agreement was extended for an additional 6 months covering the period through 19 August 2027 at the same terms as previously announced.3 In accordance with ASX Listing Rule 4.7C.3, Atomo advises that an amount of $157k was paid during the quarter to Atomo Directors in salaries and director’s fees. 1Atomo 29 Oct 2026 Atomo Signs Agreement with Innovation Scientific to Develop a Generation 4 HIV Assay . 2Atomo 26 Feb 2026 H1FY26 Results Presentation; 28 Jan 2026 Quarterly Activities/Appendix 4C Cash Flow Report. 3Atomo ASX announcement 18 Aug 2026 Managing Director and CEO Transition. We encourage you to utilise our Investor Hub for any enquiries regarding this announcement. This platform offers an opportunity to submit questions and share comments. To access Atomo’s Investor Hub please scan the QR code or visit https://investors.atomodiagnostics.com/auth/signup
Page 5
For more information, please contact For Media questions, please contact: Cheri Walker, PhD George Hazim Atomo Diagnostics Director cheri.walker@atomodiagnostics.com Media and Public Affairs Australia Phone: +61 2 9099 4750 georgehazim@mediaaffairs.com.au Phone: +61417516262 This announcement was authorised by the Board of Directors. About Atomo Atomo is an Australian medical device company supplying unique, integrated rapid diagnostic test (RDT) devices to the global diagnostic market. Atomo’s patented devices simplify testing procedures and enhance usability for professional users and untrained self-testers. The Company has agreements in place for tests targeting infectious diseases including HIV, Syphilis, viral vs bacterial differentiation and pregnancy. See more at www.atomodiagnostics.com. Forward looking statements This announcement may contain forward-looking statements which may be identified by words such as “believes”, “considers”, “could”, “estimates”, “expects”, “intends”, “may”, and other similar words that involve risks and uncertainties. Such statements are not guarantees of future performance a nd involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of Atomo or its Directors and management and could cause Atomo’s actual results and circumstances to differ materially from the results and circumstances expressed or anticipated in these statements. The Directors cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.
Page 6
Rule 4.7B Name of Entity Atomo Diagnostics Limited ABN Quarter Ended ("current quarter") 30 September 2026 Consolidated statement of cash flows Current Quarter Year to date (3 months) A$'000 A$'000 1. Cash flows from operating activities 1.1 Receipts from customers 2,401 2,401 1.2 Payments for (a) research and development ( 141) ( 141) (b) product manufacturing and operating costs ( 1,751) ( 1,751) (c) advertising and marketing ( 29) ( 29) (d) leased assets - - (e) staff costs ( 982) ( 982) (f) administration and corporate costs ( 533) ( 533) 1.3 Dividends received (see note 3) - - 1.4 Interest received 23 23 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives 84 84 1.8 Other (provide details if material) 1.9 Net cash from / (used in) operating activities ( 929) ( 929) 2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities - - (b) businesses - - (c) property, plant and equipment ( 17) ( 17) (d) investments - - (e) intellectual property 0 0 (f) other non-current assets - Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B 37 142 925 684 ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 1
Page 7
Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B Consolidated statement of cash flows Current Quarter Year to date (3 months) A$'000 A$'000 2.2 Proceeds from disposal of: (a) entities - - (b) businesses - - (c) property, plant and equipment - - (d) investments - - (e) intellectual property - - (f) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (provide details if material) - - 2.6 Net cash from / (used in) investing activities ( 17) ( 17) 3. Cash flows from financing activities 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) - - 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - 3.4 Transaction costs related to issues of equity securities or convertible debt securities - - 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings ( 69) ( 69) 3.7 Transaction costs related to loans and borrowings - 3.8 Dividends paid - 3.9 Other (provide details if material) - 3.10 Net cash from / (used in) financing activities ( 69) ( 69) 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 3,709 3,709 4.2 Net cash from / (used in) operating activities (item 1.9 above) ( 929) ( 929) 4.3 Net cash from / (used in) investing activities (item 2.6 above) ( 17) ( 17) ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 2
Page 8
Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B Consolidated statement of cash flows Current Quarter Year to date (3 months) A$'000 A$'000 4.4 Net cash from / (used in) financing activities (item 3.10 above) ( 69) ( 69) 4.5 Effect of movement in exchange rates on cash held ( 25) ( 25) 4.6 Cash and cash equivalents at end of period 2,669 2,669 5. Reconciliation of cash and cash Current Quarter Previous Quarter equivalents A$'000 A$'000 at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts 5.1 Bank balances 2,669 3,709 5.2 Term deposits - - 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 2,669 3,709 6. Payments to related parties of the entity and their Current Quarter associates A$'000 6.1 157 6.2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. Aggregate amount of payments to related parties and their associates included in item 2 Aggregate amount of payments to related parties and their associates included in item 1 ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 3
Page 9
Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B 7. Financing facilities Total facility Amount drawn at Note: the term "facility" includes all forms of financing amount at quarter quarter arrangements available to the entity. end end Add notes as necessary for an understanding of the A$'000 A$'000 sources of finance available to the entity 7.1 Loan facilities - - 7.2 Credit standby arrangement - - 7.3 Other (please specify) - - 7.4 Total financing facilities - - 7.5 Unused financing facilities available at quarter end - 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. 8. Estimated cash available for future operating activities A$'000 8.1 Net cash from / (used in) operating activities (Item 1.9) ( 929) 8.2 Cash and cash equivalents at quarter end (Item 4.6) 2,669 8.3 Unused finance facilities available at quarter end (Item 7.5) - 8.4 Total available funding (Item 8.2 + Item 8.3) 2,669 8.5 Estimated quarters of funding available (item 8.4 divided by 2.90 item 8.1) 8.6 If Item 8.5 is less than 2 quarters, please provide answers to the following questions: 1. Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: Not applicable. 2. Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: Not applicable. 3. Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: Not applicable. ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 4
Page 10
Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: 29 October 2026 (Name of body or officer authorising release see note 4) Notes 1. 2. 3. 4. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. Authorised by: ..........The Board This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee] ”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 5