Private company

UNIVERSAL BIOSENSORS INC

UNIVERSAL BIOSENSORS INC is an American surgical and medical instruments and apparatus company.1

Last updated Oct 20, 2026.

Overview

  • IndustrySurgical & Medical Instruments & Apparatus1
  • HeadquartersDE1
  • Incorporated inDE2
  • Business address1 Corporate Avenue, Rowville, Victoria, C3 31782
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in AUD, the currency the company reports in.

Key numbers, fiscal 2024

63.7%Gross margin4
-270.1%Operating margin4
-226.6%Net margin4
-43.1%Revenue growth, 20244
-82.0%Return on equity4
-12.7M AUDFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue10¢2.3M AUD
  • Research and development19¢4.2M AUD
  • Selling, general and admin71¢16.0M AUD

Out of 6.3M AUD in revenue.4 The company lost money this year.

Financial statements

Revenue567846.3M AUD in 2024−91% since 2018
020.0M AUD40.0M AUD60.0M AUD80.0M AUD2018: 69.5M AUD69.5M AUD20182019: 6.9M AUD6.9M AUD2019−90%2020: 3.2M AUD3.2M AUD2020−54%2021: 10.2M AUD10.2M AUD2021+217%2022: 9.4M AUD9.4M AUD2022−8%2023: 11.0M AUD11.0M AUD2023+18%2024: 6.3M AUD6.3M AUD2024−43%
Gross profit5967844.0M AUD in 2024−94% since 2018
020.0M AUD40.0M AUD60.0M AUD80.0M AUD2018: 66.9M AUD66.9M AUD20182019: 3.3M AUD3.3M AUD2019−95%2020: 623.1K AUD623.1K AUD2020−81%2021: 2.1M AUD2.1M AUD2021+238%2022: 2.1M AUD2.1M AUD2022+2%2023: 4.3M AUD4.3M AUD2023+100%2024: 4.0M AUD4.0M AUD2024−7%
Operating income596784-17.0M AUD in 2024
-50.0M AUD-25.0M AUD025.0M AUD50.0M AUD2018: 46.4M AUD46.4M AUD20182019: -10.4M AUD-10.4M AUD20192020: -12.6M AUD-12.6M AUD2020+21%2021: -15.0M AUD-15.0M AUD2021+20%2022: -34.9M AUD-34.9M AUD2022+132%2023: -16.7M AUD-16.7M AUD2023−52%2024: -17.0M AUD-17.0M AUD2024+2%
Net income596784-14.2M AUD in 2024
-40.0M AUD-20.0M AUD020.0M AUD40.0M AUD2018: 37.6M AUD37.6M AUD20182019: -4.8M AUD-4.8M AUD20192020: -7.6M AUD-7.6M AUD2020+58%2021: -10.5M AUD-10.5M AUD2021+38%2022: -26.9M AUD-26.9M AUD2022+156%2023: -6.7M AUD-6.7M AUD2023−75%2024: -14.2M AUD-14.2M AUD2024+111%
Fiscal year2018201920202021202220232024
Revenue69.5M AUD56.9M AUD53.2M AUD610.2M AUD79.4M AUD811.0M AUD86.3M AUD4
Cost of revenue2.5M AUD53.6M AUD92.6M AUD63.7M AUD72.4M AUD82.3M AUD42.3M AUD4
Gross profit66.9M AUD53.3M AUD9623.1K AUD62.1M AUD72.1M AUD84.3M AUD44.0M AUD4
Research and development11.6M AUD55.5M AUD95.0M AUD69.3M AUD712.3M AUD85.0M AUD44.2M AUD4
Selling, general and admin5.9M AUD65.6M AUD711.0M AUD815.0M AUD416.0M AUD4
Operating income46.4M AUD5-10.4M AUD9-12.6M AUD6-15.0M AUD7-34.9M AUD8-16.7M AUD4-17.0M AUD4
Interest0 AUD12
Income before tax-10.5M AUD7-29.9M AUD8-6.7M AUD4-14.2M AUD4
Income tax4.4M AUD5-1.3M AUD90 AUD60 AUD7-3.1M AUD80 AUD40 AUD4
Net income37.6M AUD5-4.8M AUD9-7.6M AUD6-10.5M AUD7-26.9M AUD8-6.7M AUD4-14.2M AUD4
Earnings per share-$0.148-$0.038
Earnings per share (diluted)0 AUD/shares5-0 AUD/shares9-0 AUD/shares9
Shares (weighted, basic)177.7M shares7198.7M shares8212.4M shares4270.4M shares4

Compare UNIVERSAL BIOSENSORS INC with another company

Corporate structure

UNIVERSAL BIOSENSORS INC sits at the top of its group. 2 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of UNIVERSAL BIOSENSORS INC

  • Viburnum Funds Pty Ltd Filed SC 13D/A on UNIVERSAL BIOSENSORS INC, latest May 3, 2024 (2 filings since May 31, 2022)
  • Richmond Hill Capital Pty Ltd Filed SC 13G on UNIVERSAL BIOSENSORS INC, latest Jan 17, 2023 (2 filings since Jan 11, 2022)
  • UNIVERSAL BIOSENSORS INC DE
    • Hemostasis Reference Laboratory Inc. Subsidiary · Canada

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What UNIVERSAL BIOSENSORS INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation32.7M AUD4 Dec 31, 202432.3M AUD4 Dec 31, 2023+1.2%
Accumulated depreciation28.2M AUD4 Dec 31, 202427.5M AUD4 Dec 31, 2023+2.9%
Property and equipment, net4.4M AUD4 Dec 31, 20244.8M AUD4 Dec 31, 2023−8.3%
Finance-lease assets39.7K AUD4 Dec 31, 202449.1K AUD4 Dec 31, 2023−19.0%
Operating-lease assets (leased space)2.5M AUD4 Dec 31, 20242.7M AUD4 Dec 31, 2023−7.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents8.5M AUD4 Dec 31, 202410.2M AUD4 Dec 31, 2023−16.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross0 AUD8 Dec 31, 202316.4M AUD8 Dec 31, 2022−100.0%
Accumulated amortization0 AUD8 Dec 31, 20235.4M AUD8 Dec 31, 2022−100.0%
Finite-lived intangibles, net0 AUD8 Dec 31, 20230 AUD8 Dec 31, 2022

Inventory

ItemLatestA year beforeChange
Inventory, total5.6M AUD4 Dec 31, 20244.4M AUD4 Dec 31, 2023+27.6%
Raw materials330.3K AUD4 Dec 31, 2024261.8K AUD4 Dec 31, 2023+26.2%
Work in process611.2K AUD4 Dec 31, 2024274.0K AUD4 Dec 31, 2023+123.1%
Finished goods5.4M AUD4 Dec 31, 20244.1M AUD4 Dec 31, 2023+31.1%

Properties, in its own words

The Company leases approximately 5,000 square meters of office, research and development and manufacturing facilities at 1 Corporate Avenue, Rowville in Melbourne, Australia. The lease for 1 Corporate Avenue will expire on December 31, 2025 with an option to renew the lease for two further terms of five years each.

We manufacture our test strips using custom manufacturing equipment.

The rest of Item 2

Depending on the number of strips required to be manufactured, it may become necessary in the future for us to acquire additional large-scale equipment to satisfy manufacturing demand. If our existing facilities and equipment are fully utilized for the manufacture of test strips for one of our customers or our own products, we will need to secure additional or alternative facilities and establish additional large-scale equipment sufficient to meet future manufacturing requirements.

On June 28, 2021, HRL entered a premises lease to occupy approximately 418 square meters of office and laboratory facilities at 44 Frid Street, Hamilton, Ontario, Canada. The lease commenced in February 2022, with a ten-year contractual period. HRL relocated to the new premises in February 2022. The lease does not include an option to renew the lease for a further term.

Item 2 of the 10-K filed Feb 26, 2025.13

Leadership

Who has led UNIVERSAL BIOSENSORS INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Rick L. Legleiter2017–2019
  2. John Stewart Sharman2020–2025
  3. Peter George Mullin2025–now

Chief financial officer

  1. Salesh Balak2007–2025
  2. Peter George Mullin2025–now
2010201520202025
Board members and other officers (21)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Hemostasis Reference Laboratory Inc. Canada3
  • Universal Biosensors B.V. The Netherlands3
  • Universal Biosensors LLC Delaware, U.S.3
  • Universal Biosensors Pty Ltd. Australia3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Nov 17, 20258-K Change of auditor38
  2. Jul 7, 20258-K Executive or director change39
  3. May 12, 2025New chief executive Peter George Mullin becomes CEO14
  4. May 12, 20258-K Shareholder vote; Regulation FD disclosure40
  5. Apr 1, 20258-K Executive or director change; Regulation FD disclosure41
  6. Jan 15, 20258-K Executive or director change42
  7. Jan 7, 20258-K Executive or director change43
  8. May 30, 20248-K Shareholder vote; Regulation FD disclosure44
  9. Apr 11, 20248-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed45
  10. Mar 29, 20248-K Unregistered sale of shares46
  11. Mar 15, 20248-K Bylaws or fiscal year changed47
  12. Mar 5, 20248-K Entered a material agreement48
  13. May 22, 20238-K Shareholder vote; Regulation FD disclosure49
  14. Jun 8, 2020New chief executive John Stewart Sharman becomes CEO15
  15. Oct 5, 2017New chief executive Rick L. Legleiter becomes CEO16

Filings

87 filings to the SEC since October 2021: 4 annual reports, 12 quarterly reports, 16 major events, 34 insider forms, 4 large holders, 17 other. The latest 20:

  1. Nov 17, 20258-K EDGAR
  2. Nov 17, 202515-12G EDGAR
  3. Aug 4, 202510-Q EDGAR
  4. Jul 7, 20258-K EDGAR
  5. May 27, 2025SD EDGAR
  6. May 12, 20254 EDGAR
  7. May 12, 20258-K EDGAR
  8. May 12, 202510-Q EDGAR
  9. Apr 15, 2025DEF 14A EDGAR
  10. Apr 4, 2025PRE 14A EDGAR
  11. Apr 1, 20258-K EDGAR
  12. Feb 26, 202510-K EDGAR
  13. Feb 11, 20253 EDGAR
  14. Jan 15, 20258-K EDGAR
  15. Jan 7, 20258-K EDGAR
  16. Oct 31, 202410-Q EDGAR
  17. Aug 2, 202410-Q EDGAR
  18. May 30, 20248-K EDGAR
  19. May 28, 20244 EDGAR
  20. May 28, 20244 EDGAR

The 87 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

15 open-market trades by officers, directors and large owners since October 2021: 15 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 27, 2024Coleman Craig E.DirectorBuy1,421,293$0.11$156.3KForm 4
May 1, 2024Coleman Craig E.DirectorBuy29,506,606$0.15$4.4MForm 4
Mar 25, 2024Coleman Craig E.DirectorBuy1,000,000$0.20$200.0KForm 4
Sep 11, 2023Coleman Craig E.DirectorBuy100,000$0.22$22.0KForm 4
Jun 30, 2023Hoey David LDirectorBuy95,983$0.17$16.3KForm 4
Nov 16, 2022Coleman Craig E.DirectorBuy17,848$0.24$4.3KForm 4
Nov 15, 2022Coleman Craig E.DirectorBuy82,152$0.24$19.7KForm 4
Nov 11, 2022Coleman Craig E.DirectorBuy50,000$0.25$12.5KForm 4
Aug 17, 2022DirectorBuy200,000$0.28$56.0KForm 4
Jun 9, 2022Coleman Craig E.DirectorBuy25,000$0.38$9.5KForm 4
May 27, 2022Coleman Craig E.DirectorBuy32,023,617$0.75$24.0MForm 4
May 24, 2022Coleman Craig E.DirectorBuy48,620$0.48$23.3KForm 4
Nov 5, 2021Coleman Craig E.DirectorBuy329,613$0.75$247.2KForm 4
Nov 3, 2021Coleman Craig E.DirectorBuy152,638$0.75$114.5KForm 4
Nov 1, 2021Coleman Craig E.DirectorBuy896,506$0.73$654.4KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024John Sharman$526.8K$617.5K52
2024Salesh Balak$226.3K$250.7K52
2023Chief Executive Officer$515.0K$883.8K52
2023Chief Financial Officer & Company Secretary$294.0K$366.1K52

SEC filer profile

How UNIVERSAL BIOSENSORS INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARUNIVERSAL BIOSENSORS INC1
  • CIK0001279695
  • Employer ID (EIN)98-042407213
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company13
  • Incorporated inDelaware13
  • Fiscal year endsDecember 311
  • Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address1 Corporate Avenue, Rowville, Victoria, C3 31781
  • Phone613-921-90001
  • Shares outstanding298,067,435 as of Aug 4, 202511
  • Public float$17.4M as of Jun 30, 202413
  • On EDGAR sinceFeb 10, 20041
  • Filings472 in all: 4 (184), 8-K (70), 10-Q (55), 3 (30), DEF 14A (20), 10-K (18), SD (12), PRE 14A (11)1
    All 28 form types

    UPLOAD (11), ARS (6), SC 13G (6), SC 13G/A (6), 10-12G/A (5), CORRESP (5), CT ORDER (4), SC 13D (4), 10-Q/A (3), 4/A (3), 5 (3), DEFA14A (3), REGDEX (3), SC 13D/A (3), 8-K/A (2), 10-12G (1), 10-K/A (1), 15-12G (1), 3/A (1), D (1)

  • Latest filingsAnnual report (10-K) Feb 26, 2025
    Quarterly report (10-Q) Aug 4, 2025
    Proxy statement (DEF 14A) Apr 15, 2025
    Latest 8-K (8-K) Nov 17, 2025

Risk factors and legal proceedings

The risks UNIVERSAL BIOSENSORS INC names in Item 1A of its 10-K filed Feb 26, 2025: 33 risks under these headings, as written.13

  • Key Business Risks
  • We may face challenges in marketing and selling our products, and training new customers on the use of our products which could impact our revenues.
  • Our products may not be successful in the marketplace.
  • We may enter into collaborations, licensing arrangements, strategic alliances or partnerships with third parties that may not result in the development of commercially viable products or the generation of significant future revenues or our business would be severely harmed if our key contracts are terminated, or if counterparties to our key contracts do not meet their performance obligations under those contracts.
  • Our recurring losses, negative cash flows and significant accumulated deficit have raised substantial doubt regarding our ability to continue as a going concern.
  • Reduced margins would have a material adverse effect on our business and financial position.
  • The success of our business is dependent upon market factors such as the growth of the point-of-use testing market and our ability to compete effectively within the parts of our product portfolio that are highly competitive.
  • We may face intense competition in point-of-use tests.
  • The loss of a key employee or the inability to recruit and retain high caliber staff to manage future anticipated growth could have a material adverse effect on our business.
  • Operational Risks
  • New product design and development and clinical/validation testing is costly, labor intensive and the outcomes uncertain.
  • We are dependent on our suppliers.
The other 23 risks
  • We face risks manufacturing product or providing services.
  • Our operations may not be profitable, particularly in the near term.
  • Our primary development, testing and manufacturing operations are conducted at a single location. Any disruption at our facility could adversely affect our operations and increase our expenses.
  • Our success is reliant on the accuracy, reliability and proper use of sophisticated information processing systems and management information technology and the interruption in these systems could have a material adverse effect on our business, financial condition and results of operations.
  • The failure of our information systems to function as intended or their penetration by outside parties with the intent to corrupt them or our failure to comply with privacy laws and regulations could result in business disruption, litigation and regulatory action, and loss of revenue, assets or personal or other confidential data.
  • The effects of global climate change or other unexpected events, including global health crises, may disrupt our operations and have a negative impact on our business.
  • Legal and Regulatory Risks
  • If we cannot maintain our intellectual property rights, our ability to make or develop point-of-use tests would be restricted or eliminated, and the value of our technology and diagnostic tests may be adversely affected.
  • Allegedly defective design or the manufacture of allegedly defective products could potentially expose us to substantial costs, write-offs, regulatory actions and reputational damage.
  • Risks associated with regulatory clearance and changes to regulation.
  • Any failure to prevent or mitigate security breaches and improper access to or disclosure of our data or our user data could result in the loss or misuse of such data, which could harm our business and reputation and diminish our competitive position.
  • If we are found to have violated laws concerning the privacy and security of patient health information or other personal information, we could be subject to civil or criminal penalties, which could increase our liabilities and harm our reputation or our business.
  • We may be involved in litigation.
  • Changes in laws may adversely affect our business.
  • We are exposed to risks relating to evaluations of controls required by Section 404 of the Sarbanes-Oxley Act.
  • Our ability to carry forward our Australian tax losses and certain other tax attributes may be impacted.
  • We benefit from government grants and rebates.
  • Investors may be subject to Australian and/or US taxation.
  • Risks Related to the Ownership of Our Shares
  • The price of our shares is highly volatile and could decline significantly.
  • Our securities are not currently traded on any United States public markets and there are currently restrictions on the ability of United States persons to acquire our securities on the ASX.
  • A significant amount of our shares are controlled by individuals or voting blocks, and the interests of such individuals or voting blocks could conflict with those of the other stockholders.
  • Provisions in our charter documents and under Delaware law could make the possibility of our acquisition, which may be beneficial for our stockholders, more difficult and may prevent attempts by our stockholders to replace or remove current management.
  • We may not be able to raise capital or secure credit if and when required.
  • General Risk Factors
  • Adverse economic conditions may harm our business.

Legal proceedings

There are no material pending legal proceedings to which the Company or any of its subsidiaries is a party or of which any of their property is the subject. There are no known contemplated material governmental proceedings pending against the Company.

The opening of Item 3, Legal Proceedings.13

Sources

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