Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director & Consultant John Hurrell was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jan 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 38% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Revenue is less than US$5m (AU$2.7m revenue, or US$1.8m). Market cap is less than US$100m (AU$49.7m market cap, or US$33.3m). Duyuru • Oct 29
BCAL Diagnostics Limited, Annual General Meeting, Nov 28, 2025 BCAL Diagnostics Limited, Annual General Meeting, Nov 28, 2025. Location: at gadens level 29 8 chifley square, sydney nsw 2000 Australia Duyuru • Oct 21
BCAL Diagnostics Limited announced that it expects to receive AUD 10 million in funding BCAL Diagnostics Limited announced a private placement of Convertible Notes for gross proceeds AUD 10,000,000 on October 20, 2025. The notes have interest rate of 10% per annum and matures on 2 years from the Notes’ issue date. The transaction subject to shareholder approval.
The notes are expected to be issued on November 26, 2025.
On same day, the company announced it has raised AUD 5,000,000 in its first tranche. Reported Earnings • Aug 31
Full year 2025 earnings released: AU$0.02 loss per share (vs AU$0.026 loss in FY 2024) Full year 2025 results: AU$0.02 loss per share. Net loss: AU$7.24m (loss widened 13% from FY 2024). Duyuru • Mar 25
BCAL Diagnostics Limited Announces the Commercial Launch of BREASTEST Plus BCAL Diagnostics Limited announced the commercial launch of BREASTEST plus. This first-in-class blood test is available from 27 March 2025 and will be used alongside standard-of-care imaging in breast cancer screening and diagnostics. The Company is pleased that this launch has been achieved within the previously announced target timeframe of having the test commercially available in Australia by the end of first quarter CY2025. BREASTEST plus has been validated to meet the challenge of high breast density, which affects approximately 50% of Australian women participating in breast cancer screening programs. High breast density masks abnormal lesions on mammography, in many cases making it difficult to diagnose. In line with the Company's stated market entry strategy, BREASTEST plus will provide clinicians with a new, additional tool to help overcome this longstanding challenge. BREASTEST plus will be available at Sydney Breast Clinic from Thursday this week, with a planned roll out to additional select clinical sites, initially in Sydney and Melbourne, to follow. BCAL is focused on ensuring a systematic national rollout, working closely with clinical partners, to ensure Australian women will have access to BREASTEST plus™?. BCAL collaborated with its Clinical Advisory Board of eminent Australian breast surgeons, radiologists and physicians to develop BREASTEST plus™?, ensuring it meets the needs of women with high breast density who are often the most challenging to diagnose via traditional imaging. Breakeven Date Change • Dec 24
Forecast to breakeven in 2026 The analyst covering BCAL Diagnostics expects the company to break even for the first time. New forecast suggests the company will make a profit of AU$3.80m in 2026. Average annual earnings growth of 91% is required to achieve expected profit on schedule. Duyuru • Oct 04
BCAL Diagnostics Limited, Annual General Meeting, Nov 22, 2024 BCAL Diagnostics Limited, Annual General Meeting, Nov 22, 2024. Reported Earnings • Aug 31
Full year 2024 earnings released: AU$0.026 loss per share (vs AU$0.024 loss in FY 2023) Full year 2024 results: AU$0.026 loss per share (further deteriorated from AU$0.024 loss in FY 2023). Revenue: AU$3.10m (up 8.6% from FY 2023). Net loss: AU$6.40m (loss widened 26% from FY 2023). Revenue is forecast to grow 78% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Biotechs industry in Australia. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Duyuru • Jul 25
BCAL Diagnostics Limited has completed a Follow-on Equity Offering in the amount of AUD 10.5 million. BCAL Diagnostics Limited has completed a Follow-on Equity Offering in the amount of AUD 10.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 62,000,000
Price\Range: AUD 0.1
Discount Per Security: AUD 0.006
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 43,000,000
Price\Range: AUD 0.1
Discount Per Security: AUD 0.006
Transaction Features: Subsequent Direct Listing New Risk • May 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$1.5m net loss in 2 years). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Revenue is less than US$5m (AU$3.7m revenue, or US$2.5m). Market cap is less than US$100m (AU$30.3m market cap, or US$20.0m). Board Change • Mar 22
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 4 experienced directors. 2 highly experienced directors. 2 independent directors (3 non-independent directors). Co-Founder & Non-Executive Director Ron Phillips is the most experienced director on the board, commencing their role in 2010. Independent Non-Executive Director Mark Burrows was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Feb 22
First half 2024 earnings released: AU$0.01 loss per share (vs AU$0.012 loss in 1H 2023) First half 2024 results: AU$0.01 loss per share (improved from AU$0.012 loss in 1H 2023). Revenue: AU$1.86m (up 85% from 1H 2023). Net loss: AU$2.41m (loss narrowed 2.6% from 1H 2023). New Risk • Feb 21
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$4.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.7m free cash flow). Shares are highly illiquid. Earnings have declined by 50% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (19% increase in shares outstanding). Revenue is less than US$5m (AU$3.7m revenue, or US$2.4m). Market cap is less than US$100m (AU$22.6m market cap, or US$14.8m). Board Change • Dec 29
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 4 experienced directors. 2 highly experienced directors. Co-Founder & Non-Executive Director Ron Phillips is the most experienced director on the board, commencing their role in 2010. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Duyuru • Nov 27
BCAL Diagnostics Limited has completed a Follow-on Equity Offering in the amount of AUD 2.4 million. BCAL Diagnostics Limited has completed a Follow-on Equity Offering in the amount of AUD 2.4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 23,500,000
Price\Range: AUD 0.1
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 500,000
Price\Range: AUD 0.1
Transaction Features: Subsequent Direct Listing Duyuru • Oct 05
BCAL Diagnostics Limited, Annual General Meeting, Nov 22, 2023 BCAL Diagnostics Limited, Annual General Meeting, Nov 22, 2023, at 10:00 AUS Eastern Standard Time. Agenda: To consider directors election. Reported Earnings • Oct 03
Full year 2023 earnings released: AU$0.024 loss per share (vs AU$0.017 loss in FY 2022) Full year 2023 results: AU$0.024 loss per share (further deteriorated from AU$0.017 loss in FY 2022). Revenue: AU$2.85m (up 297% from FY 2022). Net loss: AU$5.06m (loss widened 50% from FY 2022). Duyuru • Sep 06
Bcal Diagnostics Limited Appoints Shane Ryan as Chief Operating Officer Effective 21 September 2023 BCAL Diagnostics Limited announced the appointment of Mr. Shane Ryan as Chief Operating Officer (COO), effective 21 September 2023. Shane will be responsible for the overall operation and administration of BCAL's clinical affairs, physician relationships, clinical product marketing, promotion, strategy, and business development. Before joining BCAL, Shane was most recently the Global Senior Vice President Strategy & Innovation - Patient Access for GenesisCare. Shane has more than 20 years' experience in the global oncology market and in particular breast cancer. He has an extensive Oncology network and deep understanding of what is critically important to both cancer patients, their treating Oncologist, and the extended multidisciplinary team. His experience covers patient care, research, innovative service delivery models, and commercial aspects of cancer patient management. Shane was also responsible for the introduction of the highly successful precision medicine test for Ductal Carcinoma In-situ (DCISionRT), providing access for Australian women for the first time in addition to this 1500 Nation-wide clinical registry. Shane has also originated other clinical trials and evaluations of predictive and management tools for the management of high-risk breast cancer patients in Australia. Prior to joining GenesisCare, Mr. Ryan spent 10 years with globally recognised Peter MacCallum Cancer Centre where he held Executive positions in Clinical Operations, Services Development and Surgery. New Risk • Sep 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 12% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$6.4m free cash flow). Shares are highly illiquid. Earnings have declined by 48% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (12% increase in shares outstanding). Revenue is less than US$5m (AU$2.9m revenue, or US$1.8m). Market cap is less than US$100m (AU$24.9m market cap, or US$16.0m). Reported Earnings • Aug 31
Full year 2023 earnings released: AU$0.024 loss per share (vs AU$0.017 loss in FY 2022) Full year 2023 results: AU$0.024 loss per share (further deteriorated from AU$0.017 loss in FY 2022). Revenue: AU$2.85m (up 297% from FY 2022). Net loss: AU$5.06m (loss widened 50% from FY 2022). New Risk • Aug 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 51% per year over the past 5 years. Revenue is less than US$1m (AU$1.3m revenue, or US$844k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Market cap is less than US$100m (AU$24.4m market cap, or US$15.7m). Board Change • Aug 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 3 experienced directors. 2 highly experienced directors. Co-Founder & Non-Executive Director Ron Phillips is the most experienced director on the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. New Risk • Jun 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.9m (US$9.84m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 51% per year over the past 5 years. Revenue is less than US$1m (AU$1.3m revenue, or US$872k). Market cap is less than US$10m (AU$14.9m market cap, or US$9.84m). Minor Risk Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Board Change • Jun 29
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 3 experienced directors. 2 highly experienced directors. Co-Founder & Non-Executive Director Ron Phillips is the most experienced director on the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Jun 08
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 3 experienced directors. 2 highly experienced directors. Co-Founder & Non-Executive Director Ron Phillips is the most experienced director on the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 3 experienced directors. 2 highly experienced directors. Co-Founder & Non-Executive Director Ron Phillips is the most experienced director on the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Mar 06
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 3 experienced directors. 2 highly experienced directors. Co-Founder & Non-Executive Director Ron Phillips is the most experienced director on the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Dec 06
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 3 experienced directors. 2 highly experienced directors. Co-Founder & Non-Executive Director Ron Phillips is the most experienced director on the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Aug 11
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 3 experienced directors. 2 highly experienced directors. Co-Founder & Non-Executive Director Ron Phillips is the most experienced director on the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.