Pacific Edge APAC Operations Advance Towards Profit
14/07/2026 09:00 NZST, GENERALP
PACIFIC EDGE APAC OPERATIONS ADVANCE TOWARDS PROFIT
DUNEDIN, New Zealand – Cancer diagnostics company Pacific Edge (NZX/ASX: PEB) today announces its APAC business is advancing towards profitability on a direct-cost basis supported by an increase in commercial test volumes and the increasing adoption of the company’s next generation test Cxbladder Triage Plus.
The strong improvement in the regional operation is detailed in the company’s Q1 27 update released today that showed APAC commercial tests rising 12.9% in Q1 27 to 1,158 tests from 1,026 tests in Q4 26.
APAC (unaudited) cash burn reduced to $0.17 million for the quarter, representing an improvement of approximately 9% on Q4 FY26 and approximately 15% on Q1 FY26, reflecting disciplined cost management, improved pricing, and a growing contribution from commercial testing.
APAC revenue of $2.0m contributed 19% of operating revenue in the second half of FY26, up from 8% in FY25. Cxbladder Triage Plus is a better performing test that is also priced higher, improving revenue, margin and margin percentage per test. The combination of volume growth and increasing percentage of Triage Plus tests in the product mix is expected to further improve revenue expectations.
Total laboratory throughput (TLT) was 5,116 for Q1 27 down 8.3% on the 5,582 recorded for Q4 26, with the extent of the fall largely due to an 82% reduction in clinical trials and investigator-initiated trial volumes to 115 in Q1 27 from 642 in Q4 26.
US commercial tests in Q1 27 were down a modest 2.4% to 3,295 from 3,375 in Q4 26 with the fall reflecting continuing attrition in the sales team to 5.0 from 7.7 FTEs in Q4 26 in line with the company’s cash preservation initiatives in place ahead of the release of the draft Medicare policy. The company is now focused on selective investments to drive commercial execution in the US.
Pacific Edge Chief Executive Officer Dr Peter Meintjes said: “The quarterly performance of the Asia Pacific operations has demonstrated key results that we aim to replicate in the USA. Transition to Triage Plus and a focus on the strategic selling of clinical pathways to institutions has led to several quarters of consistent growth in commercial testing volume, revenue, margin and margin percentage. We are delighted with this progress and are seeking to maintain this momentum for multiple forward-looking quarters.
“In the US, Novitas’s draft Local Coverage Determination published on May 14 ‘Urine-based Biomarkers in Patients with Microhematuria’, has created the opportunity for similar success. With selective investments in our commercial and digital teams, we are seeking to target integrated delivery networks (IDNs) such as academic centers and hospital systems with clinical pathways for Triage Plus, and re-focus our account executives on intermediate risk microhematuria patients where our value proposition is clearer, and our commercial strategy can be rebuilt around reimbursable use.”
In addition to the improving performance of the APAC region, test volumes, and the change to the US sales strategy, the Q1 27 investor update also details:
• Pacific Edge’s request that Novitas expand coverage to a broader range of patients presenting with hematuria. Pacific Edge spoke to the request at an Open Meeting on 18 June 2026 to hear public submissions on the draft LCD
• Updates on the company’s clinical evidence programme to entrench the company’s tests in guidelines and medical policy
Pacific Edge has updated its non-confidential Investor Presentation to ensure consistency with the points highlighted in this release and the Quarterly Shareholder Update.
The company looks forward to providing a further update to investors at its Annual Shareholder Meeting in Auckland on Thursday 20 August 2026 at 2pm.
Released for and on behalf of Pacific Edge by Grant Gibson Chief Financial Officer
For more information:
Investors:
Dr Peter Meintjes
Chief Executive
Pacific Edge
P: +64 22 032 1263
Media:
Richard Inder
The Project
P: +64 21 645 643
OVERVIEW
Pacific Edge: www.pacificedgedx.com
Pacific Edge Limited (NZX/ ASX: PEB) is a global cancer diagnostics company leading the way in the development and commercialization of bladder cancer diagnostic and prognostic tests for patients presenting with hematuria or surveillance of recurrent disease. Headquartered in Dunedin, New Zealand, the company provides its suite of Cxbladder tests globally through its wholly owned, and CLIA certified, laboratories in New Zealand and the USA.
Cxbladder: www.cxbladder.com
Cxbladder is a suite of non-invasive genomic urine tests optimized for the risk stratification of urothelial cancer in patients presenting with hematuria and those being monitored for recurrent disease. The tests help improve the overall patient experience, while prioritizing time and clinical resources to optimize practice workflow and improve efficiency.
Supported by over 20 years of research, Cxbladder’s evidence portfolio extends to more than twenty-five peer reviewed publications, and Cxbladder Triage is now included in the American Urological Association’s Microhematuria Guideline. To drive increased adoption and improved patient health outcomes, Cxbladder is the focal point of numerous ongoing and planned studies designed to generate further clinical utility evidence.
Cxbladder is available in the US, Australasia, and Israel and in markets throughout Asia and South America. In the US, the test has been used by over 5,000 urologists who have ordered more than 130,000 tests. In New Zealand, Cxbladder is accessible to around 70% of the population via public healthcare and all residents have the option of buying the test online.