SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2025

Disclosure of operating segments [abstract]

SEGMENT INFORMATION

3. SEGMENT INFORMATION

The Group comprises two main geographical segments (i) the Americas and (ii) Rest of World. The Group’s geographical segments are determined by the location of the Group’s assets and operations. The Group has also presented a geographical analysis of the segmental data for Ireland as is consistent with the information used by the Board of Directors.

The reportable operating segments derive their revenue primarily from one source (i.e. the market for diagnostic tests for a range of diseases and other medical conditions). In determining the nature of its segmentation, the Group has considered the nature of the products, their risks and rewards, the nature of the production base, the customer base and the nature of the regulatory environment. The Group acquires, manufactures and markets a range of diagnostic products. The Group’s products are sold to a similar customer base and the main body whose regulations the Group’s products must comply with is the Food and Drug Administration (“FDA”) in the US.

The following presents revenue and profit information and certain asset and liability information regarding the Group’s geographical segments.

i) The distribution of revenue by major product group was as follows:

	Six-month period ended
Revenue	June 30,2025 US$‘000		June 30,2024 US$‘000
Clinical laboratory goods		14,404		20,397
Clinical laboratory services		1,953		2,582
Point-of-care products		2,044		7,568
		18,401		30,547

ii) The distribution of segment results by geographical area was as follows:

				Rest of World
	Americas			Ireland			Other			Total
Six-month period ended June 30, 2025	US$‘000			US$‘000			US$‘000			US$‘000
Result before restructuring costs, impairment and unallocated expenses		(324	)		(6,620	)		(103	)		(7,047	)
Restructuring costs		(421	)		(1,980	)		(58	)		(2,459	)
Once off costs		186			-			-			186
Impairment		(28	)		-			-			(28	)
Result after restructuring costs and impairment		(587	)		(8,600	)		(161	)		(9,348	)
Unallocated expenses *											(685	)
Operating loss											(10,033	)
Net financing expense											(4,431	)
Loss before tax											(14,464	)
Income tax expense											(300	)
Loss for the period on continuing operations											(14,764	)
Profit for the period on discontinued operations											-
Loss for the six-month period											(14,764	)

The distribution of segment results by geographical area was as follows:

				Rest of World
	Americas			Ireland			Other			Total
Six-month period ended June 30, 2024	US$‘000			US$‘000			US$‘000			US$‘000
Result before restructuring costs, impairment and unallocated expenses		(1,050	)		(2,268	)		(26	)		(3,344	)
Restructuring costs		(1,303	)		(636	)		-			(1,939	)
Impairment		(446	)		-			-			(446	)
Result after impairment		(2,799	)		(2,904	)		(26	)		(5,729	)
Unallocated expenses *											(1,364	)
Operating loss											(7,093	)
Net financing expense											(3,045	)
Loss before tax											(10,138	)
Income tax credit											64
Loss for the period on continuing operations											(10,074	)
Profit for the period on discontinued operations											-
Loss for the six-month period											(10,074	)

 * Unallocated expenses represent head office general and administration costs of the Group, which cannot be allocated to the results of any specific geographical area.

iii) The distribution of segment assets and liabilities by geographical area was as follows:

			Rest of World
	Americas		Ireland		Other		Total
As at June 30, 2025	US$‘000		US$‘000		US$‘000		US$‘000
Assets and liabilities
Segment assets		34,124		59,968		16		94,108
Unallocated assets:
Income tax assets (current and deferred)								3,977
Cash and cash equivalents and short-term investments								1,546
Total assets as reported in the Statement of Financial Position								99,631
Segment liabilities		94,077		50,016		42		144,135
Unallocated liabilities:
Income tax liabilities (current and deferred)								5,034
Total liabilities as reported in the Statement of Financial Position								149,169

			Rest of World
	Americas		Ireland		Other		Total
As at December 31, 2024	US$‘000		US$‘000		US$‘000		US$‘000
Assets and liabilities
Segment assets		32,798		61,254		-		94,052
Unallocated assets:
Income tax assets (current and deferred)								4,071
Cash and cash equivalents and short-term investments								5,167
Total assets as reported in the Statement of Financial Position								103,290
Segment liabilities		84,863		48,621		62		133,546
Unallocated liabilities:
Income tax liabilities (current and deferred)								4,925
Total liabilities as reported in the Statement of Financial Position								138,471