I am looking forward to the next quarterly.Last quarter we had...

I am looking forward to the next quarterly.

Last quarter we had $1.8 mil in microbiome testing revenues ( which was below my expectations).
Cannacord are expecting $6.5 mil for the 23 FY. I expect this to be conservative.

Dr Luke Reid has made it clear that it will take 6 to 9 months from when a distribution agreement is signed before we start to see meaningful revenue rolling in. For e.g Genova Diagnostics ( started 30 June 2022) has 15,000 health providers on its books. Genova have invested $2 mil in a lab specifically for gut microbiome testing services where they collect the stools and send the info back to Brisbane for the algo to do its thing (analysis) and Microba charges A$90 for this service (95% gross profit margin). Luke mentioned in a webinar early last year that over time he expects 2 tests / month per health provider. Thats $2.7 mil per month from the one distribution deal. Since then we have had other distribution deals announced including Sonic and more distribution deals to come.

Checking the Genova website, the gut test is the first test promoted.

My revenue expectations for FY 24 are over $20 mil p.a.
Its my understanding that $20 mil p.a. puts Microba in a cashflow positive position excluding the costs of the therapeutic side of the business.

Towards the end of this year after a successful IBD Phase 1 trial (starts June quarter ) there is an expectation that Microba will enter in a licensing deal valued at US500 mil to $2 bil with a minumum $30 mil upfront.

There are other threrapeutic partnerships drug partnerships also happening/ in the pipeline.
Also Ginko.

The Sonic cap raise is a brilliant deal and potentially will be the last cap raise for Microba and a great deal for Sonic.