Pacific Edge Limited released its full-year results for FY25, reporting a decrease in global test volumes and revenue. The company conducted 28,894 global tests, which represents an 11.5% drop compared to FY24. In the United States, total tests fell by 15% to 23,855, whereas in the Asia-Pacific (APAC) region, tests increased by 10.5% to 15,009. Commercial test volumes also saw a decline of 9.9%, with U.S. commercial tests down by 14.5% to 20,090, but APAC commercial tests rose by 18.5% to 4,552. Operating revenue for FY25 was $21.8 million, an 8.6% decrease from the previous year. The total revenue amounted to $24.6 million, reflecting a 16% decline from FY24. The company reported a net loss after tax of $29.9 million, which is a 1.4% increase in losses compared to FY24. The second half of FY25 saw a net loss after tax of $15.4 million, a 6.4% increase from the first half of the year. Cash and cash equivalents stood at $22.6 million, with a cash burn of $13.4 million in the second half of FY25. Despite these challenges, the company noted resilience in its operating performance amid Medicare coverage uncertainty. U.S. test sales per full-time equivalent (FTE) rose to 405.6 in Q4 25, marking a 6.4% increase from Q4 24 and a 69.5% increase from Q4 23. The average selling price $(ASP.AU)$ in the U.S. increased to $594 in FY25 from $584 in FY24. Non-Medicare revenues now represent 57% of U.S. volumes and continue to grow, supported by the inclusion of Triage in the AUA microhematuria guideline. Looking ahead, Pacific Edge highlighted that the longer-term economics are reinforced by the draft CMS pricing of Triage Plus at $1,018 per test, compared to $760 per test for the current generation of tests. The company continues to operate amid Medicare uncertainty and is focused on retaining operational efficiencies and cash collection gains.