If you look back over the past year, the only news between the...

If you look back over the past year, the only news between the previous NASA competition and this one is "we were only slightly affected by Silicon Valley Bank" and "We've been dropped from an ASX index".

It's worth looking at the fine print on these competitions. A lot of them are multi-phase efforts where you can get a bit of money for a white paper in order to win, say $75K in Phase 1, but you need detailed studies to win $250K in Phase 2 and only Phase 2 winners go on to do "large animal trials" and win up to $625K. With multiple winners this might net out to $6M, but it's quite possible that no-one gets much beyond Phase 1 - and it will take a long time if it happens at all. It's not like you can just say "$6M in contests therefore $600K in revenue in a year".

The good news for holders is that some of the big announcements wouldn't yet have hit the bottom line. The bad news is that maybe they won't.