Rua Bioscience has reported a net loss before tax of $1.8 million for the six-month period ended December 31, 2024.
This compares to a loss of $10.8m in the same period last year.
The company said the prior year's loss included a goodwill impairment of $8.2m and other one-off impairments.
When normalising for these one-off costs, Rua Bioscience said the underlying result represented an improvement of $464,209.
The net cash outflow from operating activities was $1.9m, down 9% from the previous year.
Rua Bioscience said this improvement was due to its focus on a capital-light operating model and outsourcing commercial manufacturing.
During the period, the company successfully raised $1.2m in a capital raise to fund working capital and grow sales.
It also launched dried flower products in Germany, New Zealand, and Australia, and expanded its product portfolio in New Zealand and Germany.
Rua Bioscience said it is now working with key shareholders to facilitate further capital raising efforts.
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