Hello everybody. I'm very pleased to share an update of our progress following close of the quarter ended 31st December 2024. Now for anyone new to Microba, after the quarterly update I will do a brief recap and deep dive on the business. So if you're new, hold on till the end for that. I'm going to quickly move past our standard disclaimer here and let me start by taking you through the strong numbers from the quarter. We delivered AUD 4.43 million in revenue which is up 102% year on year, and AUD 3.87 million in cash receipts for the quarter which is up 109% year on year. And for the half we delivered AUD 8.08 million in revenue which is up 147% year on year.
They're the headline numbers, and importantly we saw underpinning that strong continued sales momentum for MetaXplore in Australia with test sales up 195% year on year, driven by ordering clinician numbers up 105% year on year and pleasingly orders per clinician also strongly up, giving us an annualized run rate of over 10,200 tests up 195% year on year. October and November were record months, reflecting what we put out as an annualized run rate of 11,000 tests, which was noted in the trading update in November at the time of the AGM. We then had the typical seasonally lower numbers in December with the Christmas holiday period. Importantly, to ensure that no one gets confused by those two numbers, that's not reflected in any slowing.
In fact it's the opposite and we saw numbers in December which were higher than we expected, indicating that we actually had growth against that seasonally low Christmas holiday period. We're already now seeing strong numbers in January with sales already ahead of our numbers in December. Similarly for MetaPanel, we saw a record month in December against that Christmas holiday period and kicking off the new quarter in January, we've seen a really strong start to Q3. Switching gears to the United Kingdom, supplement sales were robust so up again and this time 8% year on year. Hello everybody, I'm very pleased to share. Purposeful shift away from customers with low referral rates where the cost to serve is disproportionately high and as a result unattractive.
Our focus with our new UK sales resources is on very specific types of clinicians and patient populations and developing depth and quality of referrals that deliver consistent resilient growth. So tying a bow around those results. We had a record October, November and strong December sales which exceeded our expectations during that seasonal decline that we typically see across the Christmas holiday period. As always with the seasonality and lumps and bumps across quarters, the key is to look at the PCP or year on year growth because that compares similar periods and takes out the impact of any seasonality. As you can see, if we look at that PCP or year on year growth for the quarter it was incredibly strong again up over 100%, so more than double what it was last year.
And so with our MetaPanel starting to gain some traction, our continued growth trajectory for MetaXplore in Australia and our progress with MetaXplore in the UK, we're genuinely excited about the growth ahead for the second half of the financial year. Aligned to this growth, there are a range of milestones and highlights from the quarter. We've summarized the key highlights here, but I'll take you through them in a little bit more detail on the following slides covering our continued momentum in Australia with our diagnostic tests, MetaXplore and MetaPanel, our progress in the United Kingdom, transitioning to unlock growth in that region with MetaXplore and advancement of our therapeutic assets and our partnerships as we continue to work on non-dilutive funding solutions to advance MAP315 into phase 2.
So first off, we're seeing that continued growth in clinical adoption of MetaXplore in Australia. So almost 4,400 tests sold for the half and over 2,500 tests for the quarter which was up 195% year on year. As I said before, being driven by over 540 ordering clinicians for the quarter which was up 105% year on year. And so a strong quarter closing another strong half, continuing our growth trajectory. But importantly, as I mentioned before, we're seeing that growth underpinned here by two key metrics, growth in ordering clinicians, so breadth, but also growth in orders per clinician, so depth. And in addition to those positive results, looking back, we've had a very strong start to Q3. So as at today, we're already ahead of our numbers in December and I'd say that the team are incredibly focused.
We have now a growth formula which is working, and something that we haven't spoken a lot about but was really prominent at the end of last year was that those growth efforts have been supported by continued advancements in the product and clinical value of the MetaXplore test with a range of new features that we released into the end of the year, and we've got a roadmap to continue to ship and deliver more and more clinical value in quarters years ahead. So next to MetaPanel in Australia, sales continue to build into the end of the year as we develop that market, and that led to a record month in December despite what we see as a really seasonally low period with the Christmas holidays. And then we've seen that continue into the new half with how we've kicked off with strong sales in January.
So last year there was a lot of early foundation building post the national launch with Sonic and I really feel like we're starting to gain some traction with clinicians with what is really our first of its kind, really breakthrough test. So next a layer deeper on our business in the United Kingdom with the testing business transitioning to a new growth phase aligned to the execution of our strategy for that region. So firstly supplement sales robust and up year on year again which I mentioned before and testing sales were down related to our continued focus of the team on MetaXplore Access, which commenced in October. And we're really positive about the results that we've seen from that MetaXplore early access program. So we've already seen test referral rates and behavior similar to what we experience in Australia. So why is that important?
That shows the traction that we're looking for. It shows the market acceptance that we hope to see and a path to replicate the growth that we're achieving in Australia into the United Kingdom aligned to our strategy. So that data has now provided us with the validation we're looking for to expand the early access program to additional key clinician accounts. But really now just accelerate to full market access of that test in the United Kingdom. Now switching gears for a moment to our therapeutics business for the update for the quarter for our inflammatory bowel disease program to support the move into phase two for MAP315, we've been active in a range of partnering activities evaluating various non-dilutive strategic opportunities for our immuno-oncology program.
We grew our clinical data and sample set to over 5,500 patients to support the preclinical package and our lead candidate selection process. And finally for our autoimmune program for our six therapeutic leads. They were further advanced through a range of preclinical development activities and validation models with a focus on securing the intellectual property filings for those assets ahead of clinical development. So all moving forward aligned to plan. And then finally something that we haven't spoken about for a little while, a quick update on our partnership with International Flavors and Fragrances and we've included some details in the quarterly release. So as a reminder, they are a leading probiotic manufacturer globally and so we've continued to advance our program with them to develop novel microbiome-based treatments for multiple forms of allergy.
We've made some good progress there and we're really getting to a culmination of that body of work that we laid out together with IFF and then starting to talk and think about what happens next. So I'll close the quarterly update here. I'm going to respond to some submitted questions which came through and then I'm going to go to the deep dive on the Microba business for those that are new to the story. So first let's close out the quarterly and let's close out by highlighting what we're focused on. So in diagnostics. Growth of our diagnostic tests in Australia, accelerating to full market access now of MetaXplore in the United Kingdom, kicking that testing business into growth and driving to reimbursement in the U.S.
We're making some good progress here, and what I'll say is very excited to update shareholders very soon on that body of work that the team have been great cracking away at our therapeutics. We are continuing to make good progress across our programs, securing the intellectual property for those new lead assets in our autoimmune disease program at the forefront of this field and very active in our partnering efforts evaluating those non-dilutive strategic opportunities in particular to support the move of MAP315 into that phase 2 trial. As we wrapped up the year as at 31 December 2025, we had AUD 17.3 million in the bank. And so that closes the quarterly update and the strong results from the quarter. So now I'm going to switch gears into some questions that were submitted.
So kicking off with question number one, how are you leveraging your partnerships with Sonic Healthcare and SYNLAB to accelerate product innovation? So importantly, the role of our Sonic and SYNLAB partnerships is not for product innovation, they are partnering with us for product innovation. So those partnerships are primarily focused on distribution and we continue to grow and leverage those partnerships with two of the world's largest medical diagnostic companies to support our go to market efforts. Now I think what's embedded in that question though is what else can we do together other than sales and distribution? And one of the key areas is in evidence generation to further demonstrate the unequivocal value of our diagnostic products.
And we have multiple studies and peer reviewed publications that we're working on in collaboration which just support more clinical acceptance and importantly support our reimbursement path, which is a nice segue into the next question. So the next question here is, are there updates on your efforts to penetrate the U.S. market for diagnostic products, particularly given the $15 billion addressable market? My response to that is, yes, there will be very soon. We're making really great progress here, all centered around an entry strategy that is focused first on Medicare reimbursement and focused on doing that in a really clearly defined patient population, tight value proposition. So stay tuned for more on that very, very soon. The next question here that was submitted was what has been the early feedback from the U.K. from clinicians regarding the MetaXplore test?
So we've had the early access program running since October. What's the feedback, in short? Very positive. Some practitioners have provided feedback that they've really been waiting for MetaXplore launch in the U.K. since they were made aware of Microba and Invivo coming together at the end of 2023 and the acquisition. They are without question impressed at the breadth of the markers available in the MetaXplore test and excited to use that test in clinical practice. The feedback has been that the dynamic reporting and the interface and everything that sits behind that and the clinical insights that they receive have been very positively received by clinicians and that's a stark contrast to what they've experienced with the GI Ecologics test and other reports that they have access to in the U.K. market. So they really like the test.
There's another point of feedback that I've received from the team which is really important. Practitioners are also very positive about the support, support that's been provided from the Invivo Clinical team, which are known for their excellence in clinical support. This is really important. This is a real advantage in market, but it also is critical for the uptake of something like MetaXplore, which is very new and can be a big change for clinicians and the way that they practice. Having confidence that they have the support to make that change in their practice model is critical and we're getting very positive feedback on the support we're providing on that front.
So all of that, taken together with what I mentioned earlier in the clinical referral data and audit data, provides us with confidence to now accelerate to full market access and kick into the next phase of growth here in the United Kingdom. The next question is what proportion of cash burn is attributed to research and development versus expansion activities? My response to that is we don't operate on a fixed percentage basis. Now our approach is to prudently allocate resources on a project by project basis, which enables us to operate dynamically based on specific opportunities and return on investment. The next question is, what are the most significant risks you foresee in the next quarter and how do you plan to mitigate them? Well, my response to that is it's probably not what you expect.
It's not technology related, it's not regulatory related or anything of that nature. It's actually about maintaining and accelerating our growth. So I would say the two key risks are focus and speed, and they're related. So let me explain. So if I focus in on focus every day there is another opportunity. A new region that's demanding our solutions. A new patient population which can benefit from our solutions. A new diagnostic market discovery, a new therapeutic discovery. All of these things are exciting and interesting, but importantly, they can take us off course from what we need to do today and tomorrow. So internally we call them, we label them as distractions disguised as opportunity. We're investing carefully, which means that we have limited hands and minds and we have to use them on the top priority items every day.
And once we've won the opportunity that we're focused on today, then we can move on to the next and then to the next and then to the next. So that's the focus element and then so the second one which is related is speed. The size of this opportunity that we're unlocking is ginormous and we are without question at the forefront of it. That's why we have the Sonics and SYNLABs of the world that are backing us as our trusted partners. But because of the size of the opportunity, we can't take a minute to rest on our competitive advantage. You know, otherwise someone will try to raise more money and run past us. You know, the opportunity is too big. So how do we deal with that? We've developed an operation, we've developed and implemented a global structure, a tightly articulated strategy and associated roadmaps.
And we empower our teams to fearlessly defend those roadmaps from distraction every day. So that's the link back to focus. But on top of that, through radical transparency and shared information across the company, we empower rapid decision making within teams and rapid escalation to leadership when necessary. And we have the mantra internally of move fast, but don't break important things. It's embedded into our cultural values and we straddle the world of tech and software and healthcare. That's really important that we move fast. We make incredibly fast and sharp decisions, but don't break important things. So we straddle that world of tech and move at a tech and software pace, but operating in a regulated environment in healthcare. So then the next question is, what is your projected timeline for achieving profitability and what are the key milestones to get there?
This is a question that we receive a lot from shareholders. So I want to really take a moment to respond on this and be very clear. We're a growth company, we're not a dividend paying company at this stage. And so we're reinvesting cash flows to unlock this multi-billion-dollar opportunity and impact the lives of millions of people across the globe. So if we take out the therapeutics business for a moment and focus on the diagnostics business, which I think is at the core of the question, just let me elaborate on that a little. There's really two aspects to profitability here that are embedded within that question. One is when can we be profitable? And the second then is when do we choose is the right time to be profitable? So taking it in the two parts, when can we be profitable?
We could get there quite quickly. So the unit economics support it and are growing. And if we choose that is what we should focus on, we could get there quickly. So then the second part is when should we choose to be profitable? And if we choose to focus the company on driving to profitability today, it would come at a significant expense to growth. We would really be letting go of that $15 billion market opportunity that we're in position to take and choosing to have a very small but profitable business. And I've not heard or had the view from one shareholder that that is a good idea and that that is what they would like to see for Microba. And so, you know, if our aspiration was small like that, Sonic most certainly would not have invested in us.
You know, it would be a wasted opportunity if we didn't fully leverage our competitive advantage to capture this major new diagnostic category globally and see the benefit of our products realized for millions of patients across the globe and the economic benefits of that value realized for our shareholders, so that sums up the positive quarterly update with our continued growth and, you know, setting the basis for our excitement for what lies ahead in the second half of the financial year. I've addressed all of the submitted questions that came through, and so now I'm going to switch gears, so for anyone new to Microba, I'm going to do a quick recap and deep dive on the business.
For those that know the story and have heard it from me many, many times, feel free to jump off so for those new to explain what Microba is all about, let me start by sharing a surprising fact. Your body is home to trillions of tiny microorganisms, and those tiny organisms are essential for your health. In fact, they are so essential that there are now more than 21,000 studies showing that they are key to how we develop and can treat chronic diseases. Now, most of them, about 95% live in your gut and we call that ecosystem of organisms your gut microbiome. Chronic diseases affect 6 in 10 people now. They include cancer, depression, diabetes, bowel, heart, and many other diseases.
But the exciting insight is that there are now over 150 studies demonstrating that if we change these tiny organisms in our gut, we can improve and even treat chronic diseases. And from that, Microba's vision is very clear that testing and monitoring your gut microbiome is going to be a routine part of health and disease management with your doctor. And that novel microbiome therapeutics are going to be developed, commercialized and routinely used to treat chronic diseases. And at Microba, we're already making both microbiome testing and treatment a reality where commercial stage already generating revenues and grew over 120% last year. You've just seen the recent growth that we've continued on that growth trajectory. And we recently launched two diagnostic testing products which have opened up what we see is a $15 billion major new diagnostic category.
And we've got partnerships with two of the world's largest diagnostic companies that are backing us to do this. Sonic Healthcare and SYNLAB. In parallel, we've discovered and developed novel microbiome therapeutics addressing an aggregate market worth over $50 billion. Successfully completed a phase one clinical trial and advancing to phase two. All founded by two professors who wrote the book in this field and led by a world class team. So let's take a moment to dive into our diagnostics business. We are really in a leading position at the forefront of clinical microbiome testing. And with the central impact that the microbiome plays in a range of diseases, there's a lot of opportunity. This speaks to what I was saying before in the questions with the importance of focus and speed. Today we are laser focused on applying our technology to help patients suffering from gastrointestinal disease.
Gastrointestinal disease is a ginormous market. In biotech, areas like cancer and oncology get a lot of attention for good reason, but a significantly higher number of people are seeing a doctor with gastrointestinal issues, including severe diarrhea, bloating, pain, irritable bowel syndrome or inflammatory bowel disease. In fact, every year there are 37 million of those individuals in the U.S. alone. The real number to focus on here is that historically only half of these patients suffering have achieved a resolution, so how do we help these patients? Well, many of the answers lie in their gut microbiome, and to address that, we've developed two tests, MetaPanel for diagnosing gastrointestinal pathogens, which launched just last year across Australia, first with Sonic Healthcare and MetaXplore for diagnosing gastrointestinal disorders.
Our real world data here has shown that with our tests, we can get critical new diagnosis and treatment recommendations for 52% of patients who had previously had no path to a resolution. That is absolutely huge. We're very proud of that and we're very proud of the impact that we're already having on these patients. Safe to say as a result of that, this is a big market. This new diagnostic category is expected to be worth well in excess of $15 billion in the U.S. alone. I'll skip a couple of the testimonial slides and I'll move straight to here. We have seen patient testimonials, but people getting answers and resolution to GI symptoms that they've been suffering from for 10, 20, or in the case of this patient, for 35 years now, completely resolved.
Perhaps they're not surprising that we're seeing strong sales growth and it's accelerating. This is a huge market with millions of patients suffering every day and we are really just getting started here. Now we're going to move to our therapeutics business and do a quick dive into that. Microba is also in a prime position at the forefront of microbiome therapeutics. Again, our primary focus here is on gastrointestinal disease, specifically inflammatory bowel disease, which is a $23 billion treatment market. We have a drug development platform enabling us to deliver a pipeline of novel therapeutics. We have successfully completed a phase 1 trial for our inflammatory bowel disease lead candidate, which we call MAP315, showing it was safe and well tolerated and are now advancing into a phase 2 clinical trial looking at recent transactions in inflammatory bowel disease.
What you can see is that there is appetite from Big Pharma in this category, which is really strong, with five recent deals valued between $1.5 billion and $11 billion. So I'll close by saying I am incredibly excited about the opportunity, impact and growth ahead for Microba. We have an incredible team which we have recently bolstered with some top-tier talent and continue our growth trajectory as we outlined in the quarterly results for patients. We're already changing lives and there are a lot of people that need our help globally. So thank you all for tuning in and thank you all for your ongoing support.