Been having a look at numbers and conducting a little bit of research whilst locked down. Numbers below may be slightly off yet more than happy to be proven wrong. Numbers also match up with previous quarterlies so figure it can’t be too far off. All in my opinion as well.
Firstly, I heard first, and then read, that the average cost of a covid test is around the $10 mark. Based on assumption and previous figures, I am guessing that roughly 45-50% of nsw tests are running through Sydpath and viral swabs being tested on GSS equipment. As our workplace is currently requesting evidence of tests being conducted as we are regional, the numbers also match up with evidence of tests submitted by workers prior to returning to work (see attachment). Only other ones I have seen are “Laverty Pathology”.
Quarter 1 last year 1.84million tests conducted in NSW and GSS had $10.5 million in revenue with 15% of that from overseas. Therefore $8.925 million from Australia which would represent just under half of all tests conducted in NSW during that period at around the $10mark per test.
Quarter 2, 1.36million tests conducted in NSW, quarterly revenue of $8.2 million, with 24% of revenue from outside Australia. Therefore $6.23million in revenue from Australia. Again based on numbers of $10per test, just under 50% of tests conducted in NSW. Checking percentages on both of those quarters numbers suggests they are 95% correct.
Based on those numbers alone, and last quarters numbers, would expect revenue of around $7.2 - $7.4 million from Australia, and then additional revenue from US, and from UK where numbers and tests spiking again. Not record breaking numbers, but enough to ensure a profit for the quarter.
Now here is where it gets interesting. Current quarter of 17days, NSW has had 922000 tests conducted, which suggests revenue of around $4.3million so far based on percentages used above. If testing numbers drop slightly, say to 50000 per day for next two weeks of lockdown, and then after that to 20000 per day for remainder of quarter ( And I believe that to be low as can’t see this disappearing in two weeks), then this quarters testing numbers should be around 2.84 million, way more than any previous quarter. Revenue on that, around $13.5 million from Australia alone not withstanding additional revenue from other testing kits, and overseas revenue where hopefully new customers may be signed up. This quarter could be a record breaker.
Apologies if numbers above confusing, I can do the numbers in my head very quickly, yet not able to explain as clearly sometimes. Also above based on some research into costs, yet number of tests / samples conducted by Sydpath all based on my opinion only and previous quarters. Also more than happy for additional information to be provided or stand corrected if I’m way off the mark.
Cheers
(20min delay)