For a couple of reasons I really really wish the best for this...

For a couple of reasons I really really wish the best for this company and its two founding researchers, but ....

Geez the September quarter was yet another limp effort from them. They spend a lot of time in the quarterly report and presentation glossily comparing the September 2024 quarter with the September 2023 quarter and with the second half of fiscal 2024. But where the rubber currently hits the road for Microba is how did they go in the September quarter against the June quarter ... and the answer to that is they flat-lined, selling 1,835 MetaXplore kits in the June quarter and 1,832 kits in the September quarter. Either there is not much of a market in Australia for a product such as MetaXplore or MetaXplore is not effectively addressing that market. Also, no sales figures for MetaPanel. Profoundly underwhelming.

Also not impressed that in the quarterly they added in soon after those woeful sales numbers the factoid that the addressable market for MetaXplore in the US is over US$9.5B. So f'ing what! The company has started selling the kits in the UK, not the US, and nowhere in that report could I find any outline or timeline of them attempting to move into the US market. Talk about a red herring.

But for me the pièce de résistance of their bullshitary is their ridiculous claim that the disappointing sales figure for the September quarter was due to "seasonal softness", as in there were school holidays in Australia in July and September!! Firstly, if the country closes down for any school holidays that happens at the end of the year certainly not the middle of the year and in any case why would a couple of weeks of school holidays impact when people run health checks? It has to be one of the more pathetic efforts that I can recall of a listed company trying to hoodwink the company's owners.

I remain a holder of this stock out of a belief in Profs Tyson and Hugenholtz but I've pretty much given up on the current management. The single sliver of light I see in the quarterly report is the two recent hires they did. Hopefully these two blokes can sort out what is clearly a misfiring product launch.