Genetic Signatures

Genetic Signatures Limited – Annual Report 2021 Directors’ Report DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2021 2 The directors present their report, together with the financial statements, on the company and its controlled entities for the year ended 30 June 2021. This will hereafter be referred to as company, consolidated entity or group. DIRECTORS The following persons were directors of the company during the whole of the financial year and up to the date of this report, unless otherwise stated: Nickolaos Samaras John R Melki Michael A Aicher Anthony J Radford Neil Gunn (appointed 6 April 2021) PRINCIPAL ACTIVITIES The principal activities of the Company during the financial year were the research and commercialisation of identifying individual genetic signatures to aid in the diagnosis of infectious diseases and the sale of associated products into the diagnostic and research marketplaces. There have been no significant changes in these activities during the year. REVIEW OF OPERATIONS Genetic Signatures has had an exceptional year in which Company revenues have grown materially during FY21, largely due to demand for the EasyScreen™ SARS-CoV-2 Detection Kit globally. The Group successfully established itself in Europe and USA with supply agreements signed with new customers in both regions. In the financial year ending 30 June 2021, Genetic Signatures’ revenue was $28,284,000 representing a 151% increase over the previous year. This revenue growth was driven by demand for EasyScreen™ SARS-CoV-2 Detection Kit and has resulted in a quadrupling of instruments in use versus pre-pandemic placements. Encouragingly, the proportion of sales to overseas customers rose to 21% of total sales, up from 10% in FY21, in line with Company strategy to pursue the large regions of Europe and USA that together represent ~75% of all molecular testing. Revenue from operations ($m) Genetic Signatures posted a maiden full year net profit of $1,756,000 compared to a net loss of $2,086,000 in FY20. 10.2 22.2 1.1 6.0 FY18 FY19 FY20 FY21 APAC International 2.8 4.9 28.3 11.3