v3.25.2
Note 8 - Revenue
6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

8. Revenue

 

Disaggregation of Revenue

 

In the following table, revenue is disaggregated by major product and service lines and timing of revenue recognition.

 

   

Three Months ended June 30,

   

Six Months ended June 30,

 
   

2025

   

2024

   

2025

   

2024

 
   

A$

   

A$

   

A$

   

A$

 

Major product/service lines

                               

Coagulation testing products

    587,745       799,736       1,156,982       1,427,728  

Laboratory testing services

    81,014       253,588       305,860       543,255  

Wine testing products

    506,565       541,683       1,199,714       1,068,371  

Veterinary diabetes products

    33,440       30,559       100,867       55,722  
      1,208,764       1,625,566       2,763,423       3,095,076  
                                 

Timing of revenue recognition

                               

Products and services transferred at a point in time

    1,208,764       1,625,566       2,763,423       3,095,076  

 

Contract Balances

 

The following table provides information about receivables and contract liabilities from contracts with customers.

 

   

June 30, 2025

   

December 31, 2024

 
   

A$

   

A$

 

Receivables

    722,609       956,500  

Contract liabilities

    10,057       4,781  

 

The Company’s contract liabilities represent the Company’s obligation to transfer products to customers for which the Company has received consideration from customers, but the transfer has not yet been completed.

 

Significant changes in the contract assets and the contract liabilities balances during the period are as follows:

 

   

June 30, 2025

   

December 31, 2024

 
   

A$

   

A$

 

Contract Liabilities - current:

               

Opening balance

    4,781       36,132  

Closing balance

    10,057       4,781  

Net increase/(decrease)

    5,276       (31,351 )

 

The Company expects all of the Company’s contract liabilities to be realized by December 31, 2025.