Insight Molecular Diagnostics | 10-Q: FY2025 Q2 Revenue Beats Estimate at USD 518 K

Revenue: As of FY2025 Q2, the actual value is USD 518 K, beating the estimate of USD 291.95 K.

EPS: As of FY2025 Q2, the actual value is USD -0.3, missing the estimate of USD -0.23.

EBIT: As of FY2025 Q2, the actual value is USD -9.742 M.

Laboratory Services: Revenue increased to $494,000 for the three months ended June 30, 2025, from $104,000 in the same period in 2024, and to $2,632,000 for the six months ended June 30, 2025, from $258,000 in the same period in 2024.
Laboratory Developed Test Services: No revenue was reported for the three months ended June 30, 2025, consistent with the same period in 2024, and no revenue for the six months ended June 30, 2025, compared to $22,000 in the same period in 2024.
Kitted Products: Revenue was $24,000 for both the three and six months ended June 30, 2025, compared to no revenue in the same periods in 2024.

Net Loss: Increased to $9,742,000 for the three months ended June 30, 2025, from $4,530,000 in the same period in 2024, and to $16,413,000 for the six months ended June 30, 2025, from $13,659,000 in the same period in 2024.
Gross Margin: Improved to $350,000 for the three months ended June 30, 2025, from $50,000 in the same period in 2024, and to $1,675,000 for the six months ended June 30, 2025, from $95,000 in the same period in 2024.
Operating Profit: Loss increased to $9,842,000 for the three months ended June 30, 2025, from a loss of $4,632,000 in the same period in 2024, and to $16,641,000 for the six months ended June 30, 2025, from a loss of $13,899,000 in the same period in 2024.
Operating Margin: Negative due to operational losses.
Operating Costs: Increased to $10,192,000 for the three months ended June 30, 2025, from $4,682,000 in the same period in 2024, and to $18,316,000 for the six months ended June 30, 2025, from $13,994,000 in the same period in 2024.

Operating Cash Flow: Net cash used in operating activities was $12,137,000 for the six months ended June 30, 2025, compared to $9,808,000 for the same period in 2024.
Free Cash Flow: Not explicitly stated, but significant cash was used in operating and investing activities.

Change in Fair Value of Contingent Consideration: Loss of $2,804,000 for the three months ended June 30, 2025, compared to a gain of $1,031,000 in the same period in 2024, and a loss of $3,683,000 for the six months ended June 30, 2025, compared to a loss of $2,281,000 in the same period in 2024.

Transplant Products: Continued development and commercialization of GraftAssureCore, GraftAssureIQ, and GraftAssureDx, with positive coverage decisions and Medicare reimbursement confirmed, boosting reimbursement rates.
Oncology Products: Continued development of DetermaIO, with plans to begin commercialization over the next 9 months.
Non-Core Business
Collaborative Arrangements: Partnership with Bio-Rad for the development and commercialization of RUO and IVD kitted transplant products.
Priority
Regulatory Approvals: Working towards FDA and European Union approvals for kitted tests, and pursuing clinical trials in conjunction with IVD submission in 2025.