Avacta Group Plc (OTCPK:AVCTF) Q2 2024 Earnings Conference Call September 30, 2024 6:00 AM ET
Company Participants
Christina Coughlin – Chief Executive Officer
Conference Call Participants
Operator
Good morning and welcome to the Avacta Group Plc Investor presentation. Throughout this recorded meeting, investors will be in listen-only mode. Questions can be submitted at any time via the Q&A tab situated on the right-hand corner of your screen. Just simply type in your question and press end.
Due to the number of attendees on today’s meeting, the company may not be in a position to answer every question received during the meeting itself, however, the company can review all questions submitted today and will publish responses where appropriate to do so.
Before we begin, we’d like to submit the following poll. I’d now like to hand you over to Christina Coughlin, CEO. Good morning.
Christina Coughlin
Good morning, Mark. Thank you for hosting and looking forward to the conversation.
My name is Christina Coughlin and I am the CEO of Avacta. We are here today to present our interim results for the period ending 30 of June 2024, and we are here as well for the business update.
We’re going to start with the interim financial results for the Avacta Group. Key messages in the financial results published this morning is that the performance of the group was in line with board expectations. We have increased revenue and gross profit of the diagnostics division as we signaled earlier this year. The diagnostics division has achieved an adjusted EBITDA of $0.1 million, increasing from a loss of $0.4 million in the first-half of 2023. This change has been driven by first growth in revenue, as well as savings associated with the closure of the Wetherby laboratory facilities and a move of these R&D activities to the Corus laboratories.
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