Okay, well, on behalf of the Clever Culture Systems Board, I'm pleased to welcome you to the company's 2025 annual general meeting. My name is Rebecca Wilson, and I am Chair of the Board. I would like to start by acknowledging and paying respects to the traditional custodians of this land. I am here in Adelaide, the traditional country of the Kaurna people of the Adelaide Plains, and I pay my respects to elders past and present. I note that the time specified in the notice of meeting has arrived. The Company Secretary advises me there are more than three members present in person or by proxy attending today's meeting, and so I declare that there is a quorum present and the meeting is open.
Now that the meeting has started, can I please ask that you check your mobile phones and make sure they are switched off and put in silent mode, please? When you registered for today's meeting, you should have received either a blue, pink, or white attendee card. If you have not received a card, then please go to the registration desk at the rear of the meeting room and speak to Computershare. Only those holding blue voting cards are entitled to vote. Only those holding blue or pink attendee cards are entitled to speak at today's meeting. Consistent with the ASX corporate governance principles, I'm exercising my right to request a poll be conducted on all resolutions. Your blue voting card will be used for voting by poll. Poll procedures will be outlined at the conclusion of the final item of business.
I'd also like to welcome Travis Rickard from HLB Mann Judd, our auditors, and I'll put your hand up, Travis. Thank you. Gemma Koski from Computershare, our registry, and I'd also now like to introduce our board. On my left, your right, Mr. Brent Barnes, Chief Executive Officer and Managing Director, Mr. Daniel Hill, non-executive director, and Mr. Ian Wisenberg, non-executive director, and our company secretary, Mr. Ray Ridge. After my chair's address, Brent will deliver a company presentation providing an overview of the year and events moving forward. The notice of meeting was prepared in accordance with the company's constitution and the Corporations Act and made available to members on the 14th of October, 2025. If there is no objection, I will take the notice of meeting as having been read.
I advise that no notice of any other item of business for today's meeting have been received and therefore declare that only the matters for our meeting today that can be dealt with are those that are set out in the notice of meeting. The minutes of the last year's annual general meeting are available from the company secretary if you wish to read them. Okay, I'll now turn to my address. It's with pleasure to provide my chair's address, which has been lodged with the ASX this morning. Good morning, everyone, and welcome. It's wonderful to see familiar faces who have supported our company for many years and, pleasingly, many new ones who see the opportunity for our future. Thank you for making the time to be here and for being such an important part of our Clever Culture Systems story.
Financial year 25 has been a defining year for our company, a year that reflects our progress, our resilience, and our promise. For the last few years, we've been rebuilding, evolving, and adapting our technology, creating new opportunities, and providing our value proposition in the highly regulated world of pharmaceutical microbiology. This year, those foundations began to pay off commercially. We delivered profitability, positive cash flows, and strengthened the balance sheet, all while expanding our presence with some of the world's largest pharmaceutical companies. Our APAS Independence technology continues to lead the field as the world's only FDA-cleared AI system for automated culture plate reading. It delivers certainty, speed, and data integrity, three things that are critical in the manufacturing of pharmaceutical products. Importantly, this unique capability is resonating across the global pharmaceutical manufacturing community, and we don't take this distinction lightly.
It represents years of rigorous development and testing and positions us uniquely, especially as regulators continue to tighten requirements to ensure safe and effective drugs are supplied to patients globally. Over the past few years, we've made major commercial gains. We've secured multi-instrument orders from AstraZeneca and Bristol Myers Squibb, with Pfizer undertaking an active evaluation program. Pleasingly, this last quarter, we've secured new contracts with Novo Nordisk and Boehringer Ingelheim, adding to our growing global customer base and two important leaders in sterile drug manufacturing, bringing our total number of major pharmaceutical companies now using APAS Independence to six. Our sales pipeline now exceeds 150 APAS Independence instruments, representing over AUD 75 million in potential upfront sales revenue. And I just went a little bit too far ahead then. I knew that was going to happen. And sales revenue and up to AUD 15 million in annual recurring revenues.
Crucially, the environment we're operating in is expanding rapidly. We estimate the total addressable market for APAS Independence is valued at around $2.8 billion, with overarching tailwinds driven by stricter regulatory oversight, the rise of complex biologics manufacturing, and industry-wide movement towards automation that reduces manual workflows and improves digital traceability. These are powerful structural forces, forces that play directly to our strengths. In financial year 25, we advanced our next innovation step, the launch of an APAS Analysis Module for 55-millimeter contact plates, which we are going to demonstrate later. This represents an important expansion of the APAS platform, allowing automation of both settle and contact plates in the one system, increasing the efficiency and economics for our customers while deepening recurring revenue potential for the business. Financially, we've strengthened the company's position considerably.
In addition to the growing revenues, I'm pleased to share that 99% of our outstanding options were exercised by the close-off date of Friday, the 15th of November, just this last Friday, contributing a further AUD 1.1 million since the end of September, which is after repaying in full our loan from the South Australian government, and I'd like to take the opportunity to thank the South Australian Financing Authority team for their partnership and flexibility in supporting us over the years. This strong uptake reflects clear shareholder confidence. These resources have allowed us to reduce debt, enhance our cash position, and improve flexibility for future investment, but I also want to take a moment to reflect not just on progress, but on the journey that has brought us here. We recognize that many shareholders have stood by us during prior challenging years.
Two years ago, the company executed a complete strategy reset aligned with the pivot to entering the pharmaceutical microbiology market. This was a difficult time for all shareholders who were faced with the decision to reinvest in the revised strategy or walk away. Your loyalty, patience, and belief have been essential. The board is heavily invested alongside all shareholders, and the shared commitment has made this turnaround possible. We know that we are only just at the starting line. In financial year 25 has been our foundational year where we've proved the product proposition and established traction. From here, the opportunity is significant, but it is how we execute that will define our success, and that focus is on disciplined, high-quality execution, which will underpin everything we are planning as we enter the next phase of growth.
Following today's meeting, we'll hold a shareholder event, an opportunity to take you deeper into our business, our technology, our market, and the opportunities in front of us. We want our future to be transparent, where our shareholders can gain a clearer understanding of how we're positioning ourselves to capitalize on the growing growth in pharmaceutical automation. Tomorrow, the board will reconvene for our next strategy day. Our conversation will center on both execution excellence and planning for scale. I also wanted to take this opportunity to express my personal thanks to our CEO, Brent Barnes, for his leadership during this important period of transition, and to the entire management team and staff for their commitment and energy. Finally, I extend my appreciation to my fellow directors for their guidance, insight, and unwavering support throughout the past year.
Their contributions continue to shape a culture of discipline and ambition across the company, and back to you, our shareholders. Truly, thank you. We value your continued trust in the company and our direction. We are building Clever Culture Systems to be the global standard in environmental monitoring automation. That ambition requires us to move with both urgency and discipline, and I believe we've struck that balance well this year, and I'm confident in our ability to maintain it as we scale. Thank you for being here today and for being part of the Clever Culture journey. Okay, we will now conduct the ordinary business of this annual general meeting.
The first item of business is to receive and consider the annual financial report of the company for the financial year ended 30th of June 2025, together with the declaration of the director's report, the remuneration report, and the auditor's report. The accounts and reports were approved and signed by the directors, and in accordance with the Corporations Act, are received and tabled at this meeting. We are not required to formally adopt these documents. However, I invite you to ask any questions relating to the accounts and the reports. Mr. Travis Rickard from our auditors, HLB Mann Judd, is in attendance and is available to assist with any questions in relation to the conduct of their audit.
I ask that any member who wishes to speak first identify themselves, state whether the question is to the board or auditor, and confine themselves to the subject matter of this item of business. The meeting is now open for discussion on the accounts and reports. Any questions? If there are no further questions, I will move on to the next item on this agenda, which is the Chief Executive Officer's company presentation. I invite Brent to present information about this and the future outlook. Over to you, Brent.
Great. Thanks, Becca. Excuse me, I'm not going to stand up. We've got a microphone for those joining online, so we don't have a podium. I'm just going to talk sitting down. Thanks for joining, everyone. Really appreciate the effort that people have made to come here to our office.
Hopefully, you've kind of had scheduled the next kind of couple of hours to spend some time with us for the shareholder open day as well, following the formalities of the AGM. Following the AGM, just in terms of some housekeeping, we will have some food and drinks, and then we'll kind of start around 12:30 P.M. for the shareholder open day. Look forward to that. Also, just wanted to acknowledge those who traveled from interstate. It's always great to have the local Adelaide people in attendance who probably get a bit more bias of time able to come into the office. Those who've kind of traveled from interstate really appreciate the effort that you've made to do that. Going to the first slide. Ray, look, as Bec said in her address, it's been really a fantastic year for the company.
And so really, a lot of the information here, there's nothing new that I'll be describing, but at least give me an opportunity to kind of verbalize some of the great achievements for the companies throughout FY25 and moving initially into FY26. But I think it does start with the customers. And we've got them listed up there. Haven't got the logos on the page. We weren't able to get approval from all of those companies, but we are able to mention who they are and what they've been doing. And later on, Jack's going to talk about what customers mean to us and some of the work that our customers have recently done around presenting their experiences using APAS Independence in a real-world setting. So he'll get into the details there.
But really, the advocacy that we have from really what is the largest or amongst the largest pharmaceutical companies in the world has been very, very pleasing. And as Bec mentioned, we're just at the starting line. We're only just getting started here. And when you think about some of the technology development that we've only launched with the contact plates back in September, which is the other 50% of the workflow, well, that's only kind of just been released. And obviously, we launched in March of last year the settle plate. So from that product portfolio perspective and those suite of tests that make up the vast majority of environmental monitoring, we've now got a single instrumentation platform that automates both of those high-volume tests. And so when you walk around the facility today, we've got some plates.
I encourage you to have a look and visually kind of get an idea of what the difference is between a settle plate and a contact plate, the different sizes, thinking about how we've had to upgrade some of the hardware. And obviously, part of our core capability is this algorithm development where we have trained an algorithm with really high accuracy to be able to identify colonies on plates. And so look, part of all of that commercialization execution, if you like, has driven to really the first year of a commercial or a sales turnaround. We've announced a profit in FY25. Cash flow breakeven, or better, is the kind of outlook that we're giving to shareholders. And it has primarily been driven through product sales.
So we stand here today or sit here today in a really strong position from a financial perspective, great support from existing shareholders who exercise those options. I think there are about two million options only that did not get exercised for whatever reason, but vast majority obviously doing that over 99%. So really appreciative to those funds. And as Bec mentioned, the South Australian Financing Authority has been a really important part of our financial recap a couple of years ago when we set the new strategy where we raised capital and really reset the outlook for this business. So we've been really successful, I think, overall in delivering on that revised strategy over the last two years.
I thought I'd just recap on what the problem is that we're trying to solve because I think that's important just to ground ourselves and why our customers are interested in our technology. And to really summarize here, this is all about risk mitigation. Give the example of Novo Nordisk. They have a blockbuster drug, Ozempic. They can't make enough Ozempic globally. It was only early this year in the U.S. that it came off a short supply. It's still on the Australian TGA list as a short supply of drugs. So you think about the case of Novo Nordisk that invested all the money into their R&D, all the money in their global manufacturing facilities. What they want to do is just manufacture that drug with the lowest risk possible to make sure that they're supplying to patients.
Really, that's what it's all about for the value proposition that we bring through our APAS technology. What we're doing is that we're improving traceability, we're improving quality, and we're also doing it more efficiently. I think they're the really important drivers that resonate with our customers. We always talk to our customers around those three pillars. I think that's really important when we think about the regulatory context because the manufacturing of pharmaceutical drugs in a sterile environment is highly regulated. You don't change, or our customers don't change manufacturing of these drugs in any way without a risk assessment, without being really clear on why they're making those changes and having a full documentation trail to demonstrate to the regulators why those changes are beneficial and ultimately about why those changes are protecting the patient. The regulators don't care about efficiency.
The regulators care about patient safety. And so it's with that lens that we're very much kind of on the same side of the fence with our customers understanding the value proposition from our development teams that happen here in this building around making sure we're developing, we're validating, and we're doing it with that lens around protecting patients. Next slide, can you, Ray? And I mentioned the contact plate. It was a really important launch. And so we first embarked on the settle plate as part of our pivot. And the reason we did that is because when you think about the instrument that we had, there were zero hardware changes. From the clinical days, you still had a 90-millimeter culture plate. And so what we needed to do is to train a new algorithm for the settle plate.
This is plates in the atmosphere just settles onto the plate. And so there were zero hardware changes, but we had to train an algorithm in a different way. It had different characteristics, the way that bacteria grows on that type of plate. And we had different performance measures and goals that we had to demonstrate through that process. And so that's where we started. And obviously, we started having AstraZeneca as a cornerstone partner of ours, funding part of that pivot and funding part of that R&D development. So that was an important, I guess, capability to launch, but it wasn't a complete solution. So we always knew that, but it was just part of getting something out into the market and moving on to the next. And so it was a very important capability to be able to finalize being contact plates.
And actually, the likes of Novo Nordisk, Boehringer, we announced recently as well, they paused. So they said, "Look, we're not going to take on and do an evaluation or buy an instrument until you have the full solution covered." AstraZeneca went through a fairly aggressive rollout of obviously buying a number of instruments upfront, but we had a year and a bit of trust developed there. They knew that we would come out and develop the contact plates and do that in the way that we've done it. But these newer customers, again, very risk-averse, and they want to make sure that they're going ahead with the technology that covers these tests. So that was really, really important. And that capability did unlock those two big names that I just mentioned.
From a pipeline perspective, we don't talk a huge amount of this, and there's a couple of reasons we don't. The first is from a competitive standpoint, and so one of the challenges about being listed, as you'd appreciate, is we have to disclose all these things to the market, and that can be good, and it can be not so great, but having said that, what we've developed today and what you'll be able to see demonstrations of is a platform technology that is a high-throughput instrument that automates culture plate reading and reporting, and really, the core IP here is an imaging station, and you'll look kind of over here when we kind of take you through what the black box looks like. That's where our core IP lies, and it's the imaging and then the image analysis and the way that we develop these algorithms.
And so those two kind of capabilities are very much intertwined. And we've released this high-throughput instrument around that. And we will be successful. We've already got a number of installed base. We've got customers who like the high-throughput instrument. And that will continue to be a commercialization outlook that we'll focus on. But we've had feedback from customers to say, "Wouldn't be great if you could do more tests." So we've targeted on the biggest volume, right? So environmental monitoring is where the vast majority of these culture plates are used. So we've tackled that one first because it's the biggest total addressable market. And we've had feedback to say, "Well, wouldn't it be great if you could do some other type of tests, some bioburden testing, some water testing, some sterility testing?" There's a number of other tests that happen on a culture plate that provide automation.
These are some examples of tests that customers have said, "It would be really good if you did this." It's not necessary. It's not going to block the environmental monitoring part, but it obviously broadens the range of tests that are already capable to be run on the one platform, which is hugely advantageous. So that's on the AI side. So that's the software side. And what that allows us to do is to, I guess, protect and potentially grow that recurring revenue part of our business, that software part of our business without needing to go and do any more hardware upgrades. So that's exciting. And then the other one, which we've kind of got up on the screen there, is a diagram of a smaller version of the instrument. And so I mentioned that the core IP is around this imaging platform.
The idea here is that we reuse the core IP, but rather than it being a high-throughput instrument, we have a small-throughput instrument. We see that as an opportunity to even further broaden the market size, the market opportunity, and allow us to have APAS as the new standard for environmental monitoring, as Bec mentioned. Every company will tell you how great their board is, so I'll do the same. We're all really experienced. I think probably apart from that, and obviously, the board's really keen to talk to everyone in the informal session. I think one of the other key differentiators, perhaps, is just the strong backing by the board in terms of being shareholders.
And so, part of the pivot that we had at the end of 2023 was the board of management really getting behind that, being on the same side of the fence as shareholders. And I think really what it signals is we believe in the outlook. We believe in the pivot. That was a couple of years ago, and we still believe in it today and on a go-forward basis. So kind of wrapping up in terms of the final slide here is what to expect from here and going forward. Well, expect a little bit of the same. We've done a really good job of getting some of the largest pharmaceutical customers in the world using our technology. And if we categorize and think about FY25, we sold 11 instruments, but 9 out of those 11 were AstraZeneca, 2 to Bristol Myers Squibb.
So that's a great narrative, but it's not sustainable. And so I've said to many people in this room, is that measure us in FY26, think about us expanding those customers. So we're going from having two customers, one at which really generated 85% of our sales, to having four, five, six, seven customers where you've got multiple instruments across a group that could equally have 10 plus instruments installed in the same way AstraZeneca has. So FY26 is an exciting year for us to expand the number of customers using our technology, using our instrument. And that really, we believe, sets the future up for what is the expand part of that land and expand strategy that the company has stated for some time. So that's the end of my presentation. Do we have questions? Was that part of the?
Holding them to the end.
We're holding them to the end. Thanks, Bec.
Yeah. I think what that does, Brent, though, is provide a really good introduction to the session we're going to have immediately after this and go into some further detail. So we'll now commence the formal business of the meeting, which requires us to deal with four resolutions. I will move each motion, the wording of the proposed resolution, and the proxy voting results will be shown on the screen before moving to the next item of business. I'll read the resolution in full and then speak to the motion. The proxy figures provided on the screen may change if a shareholder who submitted a proxy has attended the meeting today and revoked their proxy. The poll will be conducted on all resolutions at the conclusion of the final item of business using your blue voting cards.
So moving on to the first resolution. Resolution one relates to the adoption of the company's remuneration report. I move the motion to consider, and if thought fit, pass the following resolution as a non-binding ordinary resolution under section 250R(2) of the Corporations Act 2001, that the remuneration report for the year ended 30th of June 2025 be adopted. Are there any questions or comments from shareholders? Okay. The status of eligible proxy votes is shown on the screen. Please be aware that a voting exclusion is set out in the notice of meeting applies to this resolution. Please note that I intend to vote undirected proxy votes available to the chair of the meeting in favor of the resolution. I now put the motion to a vote by poll to be conducted following the final item of business.
As I have an interest in the next resolution, I will temporarily hand the chair role to Mr. Brent Barnes for resolution two.
Thanks, Bec. We'll move on to the second resolution. Resolution two relates to the reelection of Rebecca Wilson as a director. I move the motion for shareholders to consider and, if thought fit, pass the following resolution as an ordinary resolution. That Rebecca Wilson, who retires in accordance with clause 20.2 of the company's constitution and being eligible to stand for reelection as a director of the company, be reelected as a director of the company. Are there any questions or comments? The status of eligible proxy votes are shown on the screen. Please note that I intend to vote undirected proxy votes available to the chairman of the meeting in favor of this resolution.
I now put the motion to a vote by poll to be conducted following the final item of business. And handing it back over to you now, Bec.
Thank you. And off script, I just wanted to say thank you for that show of support, hopefully at 99%. It's pretty safe in there at the moment. But I have really appreciated the support of Brent and his team, my directors, but many of you who reach out to me throughout the year and are really appreciated and look forward to continuing that relationship. So let's look at resolution three, which relates to the proposed issue of 3,545,581 CCS shares to the company's CEO and Managing Director, Mr. Barnes, in lieu of an annual bonus of AUD 91,476, otherwise payable in cash.
This represents 88% of the maximum annual bonus for the year ended 30th of June 2025, being a period in which the company executed a successful pivot to the pharmaceutical industry. The election of Mr. Barnes to receive CCS shares in lieu of a cash payment represents a commitment to further invest in the company and assist the management of the company's available cash. The number of CCS shares proposed to be issued in lieu of the cash bonus were determined using a price of AUD 0.0258 per share based on the volume-weighted average price of CCS shares for the month of July 2025. I move the motion for shareholders to consider and, if thought fit, pass the following resolution as an ordinary resolution.
That the issue of 3,545,581 shares by the company to Brent Barnes as described in the explanatory notes is approved for all purposes, including for the purpose of ASX Listing Rules 10.11. Are there any questions or comments from shareholders? The status of eligible proxy votes are shown on the screen. Please be aware that a voting exclusion is set out in the notice of meeting applies to this resolution. Please note that I intend to vote undirected proxy votes unavailable to the chair of the meeting in favor of this resolution. I now put the motion to a vote by poll to be conducted following the final item of business. And finally, we move to the fourth resolution. Resolution four relates to the approval of a 10% placement facility.
I move the motion for shareholders to consider and, if thought fit, pass the following resolution as a special resolution. That the issue of equity securities comprising up to 10% of the issued capital of the company at the time of the issue, calculated in accordance with the formula prescribed in Listing Rule 7.1a.2, and on the terms and conditions described in the explanatory notes, is approved for all purposes, including for the purpose of ASX Listing Rule 7.1a. Are there any questions or comments? The status of eligible proxy votes is shown on the screen. Please be aware that a voting exclusion, as set out in the notice of meeting, applies to this resolution. Please note that I intend to vote all undirected proxy votes available to me in favor of this resolution. I now put the motion to a vote by poll.
As this is the last item of business, we will now conduct the poll on all resolutions. I now appoint Ms. Gemma Koski of Computershare Investor Services Limited to be returning officer and to conduct the poll. Gemma has the power to co-opt as her agents members of her staff and staff of the company. Firstly, if there is any persons present who believe they are entitled to vote but have not yet registered to vote, could you please raise your hand for assistance? The persons entitled to vote on this poll are all shareholders, representatives, attorneys of shareholders, and proxy holders who hold blue admission cards. On the reverse of your blue admission card is your voting paper and instructions. Shareholders also need to mark a box beside the resolution to indicate how you wish to cast your votes. Please ensure you print your name where indicated.
When you have finished filling in your voting paper, please lodge it in a ballot box, which will be circulated to ensure your votes are counted. If you are a proxy holder, you should refer to the summary of proxy votes form attached to your voting paper for further information, and if you require any assistance, please raise your hand or pause now and request you to complete the paperwork, and if you do have any questions or need assistance, please raise your hand. Has anyone required any additional time? Yeah. Right. I had to ask for a pen as well. I'm not advanced. I had that pre-organized. Okay. Just looking to Computershare if we've got all collected. Fantastic. Thank you. I now declare the poll closed and formally charge Gemma as returning officer to count the votes.
After the votes have been counted, the results of the poll will be released to the ASX and will be displayed on the company's website. There being no further questions, ladies and gentlemen, I declare the annual general meeting of Clever Culture Systems closed. I'd like to thank you for your attendance today. Look forward to you staying on. And with the meeting closed, I'm happy to open up for questions for Brent on his CEO presentation. So thank you for coming. Thanks, Bec. Lusia?
Yep. Just want to congratulate Brent and the team on fantastic results. Just brilliant to see you coming to the meeting. Well done, guys. Yeah. Thanks,
Luscia. And I think anyone who's been involved in the company for some time knows that Lusia was the founder of LBT, which was our former name.
And so it's great to have her still involved in the business as a shareholder and following us and giving us so much support. So thanks for that. I think I was going to say something. I saw your little enigma behind you too. Yeah. When do you start on the small machine?
Yeah. Good question, Bryce. Look, I think what we've done some work initially on it. I think what's important for the company is to manage it in a way where we're kind of being fiscally responsible at the same time. And so when we think about how our commercial outlook looks like with respect to sales, when we think about potential partnerships that might come about, when we think about potential funding opportunities, I say more broadly speaking, those funding opportunities need to be kind of thought through.
Until those are thought through, I'd say that the other element is that the company is quite sensitive of dilution. And so we're kind of thinking about all shareholders as it relates to all of those things. So we haven't got the full funding, if you like, or the funding clarity today to kick off this project in earnest. We have made steps internally with our current cost base to be able to kind of move forward in kind of a staged and considered way. So the company hasn't announced a firm date. I can't tell you exactly when that would be right now other than giving some guidance around some of those kind of funding considerations that the company is cautious of.
Relation to that, would the cost of the analysis models be discounted for the smaller machine, or would they be aligned with the larger?
Look, we're still working through those details. I mean, I think once we get closer to having a product, we haven't really kind of formalized even the R&D for it yet. So I just think we're too early to kind of give any guidance around what it would look like. But I think we charge $50,000 for those two modules for Independence. I don't think it's going to be $50,000, but I can't tell you what it's going to be. We still need to do some work around that. Okay. Question behind you. I get you.
I think I might have asked this last year, but from what I can tell, the reason I'm going on is being a bit of a spoiled person, testing and production. What about its use within testing in cleaning pipeline situations, testing swabs and testing what's going on in the air issues? Is that future?
Yes. Yeah, so actually, that's where the company started its focus, actually, in this infectious disease space where you've got swabs for MRSA or for urine screening as another example, and so that's where we started. And we've sold a number of products we use routinely for that purpose. But what we found is that the kind of market traction, if you like, was slower than we expected. And we didn't see that was going to change. But we still have customers, about 14 instruments currently installed globally that are doing exactly that.
They're screening for MRSA, screening for urine, and providing automation and benefits to customers all around the world.
Yeah, and I think it's a good reminder. We've got still Thermo Fisher Scientific as our partner in that clinical market, and we have had sales in the financial year '25. So whilst we are very focused on executing very proactively the pharmaceutical environmental monitoring, there certainly are still opportunities in clinical, and we continue to support those. As reputation grows, those customers who probably have raised some really good, very jumping track, these are going to be considered in the future. Customers that infectious disease. Yeah. We certainly hope so, and yeah, I think it's a good assumption. Sorry. Sorry. One behind you first.
Yeah. Scott, that's Brent. Isabel, we went through the growth that we went through a similar pitching new technology to this market.
Have you had any of your potential customers have a look at this and then say, "Thanks, but no thanks"?
Yeah. No, not so much. We've had, again, the universe for us and the focus is biologics manufacturing, and so I know GroPep, and you think of it when I say manufacturing of drugs, that's a very broad kind of spectrum, so we're in the biologics, which is a big market, by the way. But we're not focused on tablets. Out of that, that's not what we do. That's not where our focus is, so in the biologics space, every customer that we've spoken to thinks it's a fantastic idea, and what we've found is it's typically around an internal process of when have they got the resources to identify the adoption of the technology. So no one's rejected the technology.
No one's tried it and then said, "No, this isn't for us for whatever reason." So far, all of our customers are very interested. But like I mentioned, you've got this highly regulated process, and those customers are not going to change the process until they're ready. And so that's probably the key factor about how we look to move forward on those opportunities. Touch on this with Ian last year about possibly having a supply issue. How many did you actually make a week? Instruments. Ready on it? Yeah. So that manufacturing side. So first thing is we manufacture the order. So we get good visibility of what's coming, and our customers don't expect to receive it a week later. So we get a bit of a timeline to deliver. We can manufacture currently two a month, and we could easily change that to three a month.
Beyond that, we would look at other manufacturing options, and we have also, I would say, as you'd expect, looked at kind of a point where we might even bring it in-house. I know Planet Innovation in the US could also make machines over there.
Yes. They have a facility over there. Yeah. I think we have a close relationship with Planet Innovation, really sort of transparent with them in terms of as we continue to see the momentum in the business. We're having these conversations with them all the time. Make good inputs. I worked for a company where we were doing surveying in the American community, but the Americans don't like new contacts. American employees are new employees. So the company had to set up an office in Broxley in the US. Have you got a similar office in America to a Kingston?
You can appear to be an American company when you're trying to do those contracts.
Yes. I think, as Beck mentioned, so Planet Innovation has got a facility in Irvine, which is in California, just outside of kind of LA or San Diego, and so we've got an instrument there, and we use that as a demonstration facility, a training hub. We bring customers there. We have an outsourced service organization that we kind of have training there. So it's quite an impressive facility. It's a nice facade, if you like, to have. We don't pay rent. There's no cost considered there, but we've got two U.S. employees, one based in California. The other based out of Boston, and so we've got a U.S. presence, and it hasn't been and the more installed base we get, the better it is, so people go visit Bristol Myers Squibb.
And so there are, and AstraZeneca now got a couple of locations, so it's a positive momentum shift. We've got local presence and get around it that way.
Brent, I'd just like to clarify or maybe just add to one thing that you mentioned earlier, just around the smaller instrument and how we might fund, just to make sure everyone's really clear in the room. I'd hate anyone to walk away and think we're about to raise money to do it. No, I think for us as a board, we've really got to balance the momentum in this business, delivering on the opportunity right now, but lifting our eyes to what's going to continue to drive the scale of this business.
We've got to look at non-dilutive options for raising additional money so that we can maintain our sort of leadership in that sort of first wave and having such a great customer base. But we're also incredibly respectful of the scrip of this company, so all of you. And again, particularly those that were diluted a lot with our sort of reset capital raise. So we respect that for any decision we make, we'll truly be looking at all of those factors of how do we ensure that we continue our market leadership, continue to look at opportunities to scale this business in the medium to longer term, but respecting the scrip of the existing holders. And so it is a balance, but that's exactly the way that we're viewing it. So speed and doing it in the very best way to build shareholder wealth over time.
So perhaps with that, there's going to be lots of opportunities to ask other questions. We might just take a really quick break. We'd like you to join us for a light lunch. And then we're going to, in sort of the next sort of 10 to 15 minutes, get started on the next part of today's session, which is the shareholder day and really starting to get under the hood a little bit more on the Clever Culture story. So thanks again, everyone, for attending. Look forward to continuing the conversation. Thank you.