Lumos lifts operating cash flow on FebriDx momentum as 1H FY26 loss widens Proactive uses images sourced from Shutterstock

Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) has reported revenue of US$6.12 million for the six months to December 31, 2025 (1H FY26), down slightly from US$6.31 million a year earlier, as the company progressed multiple FebriDx commercial and regulatory milestones in the US.

Product sales rose, led by FebriDx, with sale of goods increasing to US$1.68 million from US$0.84 million in 1H FY25. Lumos said the uplift reflected an additional US$1.39 million in FebriDx revenue, more than offsetting the absence of US$0.65 million in discontinued ViraDx sales recorded in the prior period.

Services income fell to US$4.44 million from US$5.47 million, driven by lower revenue recognised from the Hologic IP agreement as the project timeline extended, with US$1.00 million recognised in 1H FY26 compared with US$2.60 million in 1H FY25.

Despite the softer top line, gross profit was steady at US$4.15 million and gross margin improved to 68% from 67%.

Lumos recorded other income of US$2.46 million, largely tied to BARDA receipts supporting FebriDx CLIA waiver and paediatric trials. Operating expenses rose to US$8 million, up US$1.86 million, reflecting clinical trial costs, early-stage women’s health feasibility work, higher FebriDx sales and marketing spend, and increased employee-related costs.

The company posted an adjusted EBITDA loss of US$1.38 million compared with US$0.94 million in the prior corresponding period and a net loss after tax of US$4.88 million, widening from US$2.80 million. Lumos attributed the larger loss in part to higher finance costs linked to a A$5.0 million loan facility and share-based payments, both non-cash items.

Cash flow improved sharply, with net operating cash inflow of US$0.76 million, an improvement of US$7.08 million on the prior corresponding period, driven by higher customer receipts and improved alignment between BARDA receipts and trial payments. The company also received US$2.75 million in government grant cash during the half.

Commercial and regulatory progress

During the half, Lumos highlighted a 6-year exclusive US distribution agreement with PHASE Scientific for FebriDx, valued at US$317 million, subject to FDA CLIA waiver. The company has received US$3.5 million in payments to date and expects a further US$5.0 million prepaid purchase commitment upon CLIA waiver clearance.

Lumos has submitted FebriDx for FDA CLIA waiver and expects a decision by March 31, 2026. It also secured 100% Medicare reimbursement recognition across all seven US MAC jurisdictions as of November 2025 and commenced a BARDA-funded FebriDx paediatric CLIA-waiver study for children aged 2–12, with US$1.9 million in milestone payments received to date.

View Comments