The company has recorded zero revenue across the last ten quarters, with anomalous net income volatility evidenced by a $220.9K profit in 2026Q2 despite no commercial sales.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - |
| Cost of Goods Sold | 2.85K | 10.71K | 0 | 11.89K | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - |
| Gross Profit | -2.85K | -10.71K | 0 | -11.89K | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | 100% | - | - | - |
| Operating Expenses | 589.53K | 83.4K | 2.54M | 3.07M | 2.37M | 1.84M |
| OpEx % of Revenue | - | - | - | - | - | - |
| Selling, General & Admin | 573.11K | 55.06K | 1.26M | 1.32M | 624.77K | 44.47K |
| SG&A % of Revenue | - | - | - | - | - | - |
| Research & Development | 257.27K | 28.34K | 880.19K | 1.38M | 1.62M | 1.73M |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | -240.84K | 1 | 399.6K | 365.23K | 130.07K | 57.85K |
| Operating Income | -592.38K | -94.11K | -2.54M | -3.07M | -2.37M | -1.84M |
| Operating Margin % | - | - | - | - | - | - |
| Operating Income Growth % | - | 96.3% | 17.25% | -29.35% | -29.26% | - |
| EBITDA | -541.54K | -83.4K | -2.14M | -2.71M | -2.24M | -1.78M |
| EBITDA Margin % | - | - | - | - | - | - |
| EBITDA Growth % | 59.61% | 96.11% | 20.84% | -20.57% | -26.15% | - |
| D&A (Non-Cash Add-back) | 50.84K | 10.71K | 399.6K | 365.23K | 130.07K | 57.85K |
| EBIT | -592.38K | -94.11K | -2.54M | -3.07M | -2.37M | -1.84M |
| Net Interest Income | 1.05K | 776 | 53.49K | 21.4K | 243 | 28 |
| Interest Income | 1.05K | 776 | 53.49K | 21.4K | 243 | 28 |
| Interest Expense | 4 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 392.9K | -7.41K | -240.71K | -661.55K | -1.65M | -218 |
| Pretax Income | -199.48K | -101.52K | -2.78M | -3.73M | -4.03M | -1.84M |
| Pretax Margin % | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -204.12K | -101.52K | -2.78M | -3.73M | -4.03M | -1.84M |
| Net Margin % | - | - | - | - | - | - |
| Net Income Growth % | 91.79% | 96.35% | 25.46% | 7.32% | -119.24% | - |
| Net Income (Continuing) | -199.48K | -101.52K | -2.78M | -3.73M | -4.03M | -1.84M |
| Discontinued Operations | -4.65K | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.16 | -0.16 | -0.13 | -0.11 | -0.03 | -0.08 |
| EPS Growth % | 256.86% | -23.08% | -18.18% | -241.61% | 62.07% | - |
| EPS (Basic) | - | -0.16 | -0.13 | -0.11 | -0.03 | -0.08 |
| Diluted Shares Outstanding | 1.28M | 20.53M | 21.64M | 125M | 125M | 21.64M |
| Basic Shares Outstanding | 1.28M | 20.53M | 21.64M | 125M | 125M | 21.64M |
| Dividend Payout Ratio | - | - | - | - | - | - |
Pre-revenue clinical execution risk
As indicated by the provided financial data, Advanced Biomed Inc. has recorded zero revenue across the last ten quarters, underscoring its status as a pre-commercial entity that remains entirely dependent on R&D milestones rather than market-driven sales to validate its core microfluidic diagnostic technology platform.
The lack of top-line growth suggests that the company has yet to achieve the necessary regulatory approvals or clinical adoption required to transition from a research-focused organization to a commercial enterprise. Investors should monitor the progress of the A+LCGuard screening tool, as the current trajectory implies that revenue generation is contingent upon binary clinical outcomes rather than organic market expansion.
Based on the reported income statements, the company consistently incurs significant R&D and SG&A expenses, with quarterly R&D spending peaking at $313.5K in 2024Q3, reflecting a cost structure heavily weighted toward clinical trial preparation and the operational overhead of its diagnostic clinic network.
The volatility in quarterly R&D and SG&A expenditures suggests an inconsistent approach to capital deployment, which may be tied to the timing of regulatory filings or clinic expansion phases. This high fixed-cost base, absent any offsetting revenue, places significant pressure on the company's liquidity and necessitates a disciplined approach to expense management to preserve its cash runway.
According to the financial statements, the company reported a net income of $220.9K in 2026Q2 despite zero revenue, a figure that appears disconnected from operational performance and warrants further investigation into potential non-operating items or accounting adjustments that may be inflating the bottom line.
The presence of positive net income in a quarter devoid of revenue is highly unusual for a pre-commercial diagnostic firm and suggests the influence of non-recurring items or accounting anomalies. Analysts should scrutinize these figures to determine if they represent sustainable financial health or merely temporary accounting artifacts that mask the underlying cash-burning nature of the business.
While the company maintains a substantial cash position of $2.9 billion, the decision to vertically integrate into clinic operations in China, as noted in recent filings, introduces significant regulatory and geopolitical risks that could undermine the long-term value of its proprietary microfluidic intellectual property.
Short-sellers may focus on the disconnect between the massive cash balance and the lack of commercial revenue, questioning whether the capital is being deployed efficiently or if it is subject to restrictive capital controls. The reliance on a clinic-based model in a complex regulatory environment like China may prove to be a strategic misstep if it diverts resources away from the core high-margin biochip technology.
Quick answers to the most common questions about buying ADVB stock.
For fiscal year 2025, Advanced Biomed Inc. Common Stock (ADVB) reported total revenue of $0.0M.
Advanced Biomed Inc. Common Stock (ADVB) reported a net loss of $0.1M for the fiscal year ending 2025.