Historical setup
What HY23 said to watch
From Cash down to $1.7m as $1.2m HY operating burn continues
No forward revenue or earnings target is provided in the release. The FY22 shape is not a clean seasonality guide: HY22 carried 44.4% of FY22 revenue but only 16% of FY22 NPAT, and that asymmetry sits in the FY22 impairment booked in the second half rather than a recurring 2H business pattern. On revenue alone, an annualised run-rate of approximately $1.5m sits below FY22 product revenue of $1.7m, so matching last year would require a stronger second half.
Management commentary cites China lockdown disruption and continued expansion in private health-check channels but provides no quantified outlook against which this half can be judged.