NEUPHIGH SIGNALFINANCIAL10-K

Neuphoria Therapeutics delivered a dramatic improvement in profitability with losses substantially reduced across both net income and operating income metrics.

The company's operational performance showed remarkable improvement, with both net losses and operating losses declining by over 90% year-over-year, suggesting either significant cost reduction initiatives or improved revenue generation. However, the substantial decrease in accounts receivable could indicate collection issues or reduced business activity that investors should monitor closely.

Comparing 2025-09-29 vs 2024-09-30View on EDGAR →
FINANCIAL ANALYSIS

Neuphoria's financial position strengthened considerably with losses dramatically reduced across key profitability metrics while maintaining healthy liquidity through increased cash reserves and current assets. The company's balance sheet remains solid with modest increases in current liabilities offset by growing cash positions. However, the sharp decline in accounts receivable warrants attention as it may signal changes in business operations or customer payment patterns.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+97.6%
-$15.5M→-$370K

Net income grew 97.6% — bottom-line growth signals improving overall business health.

Operating Income
P&L
+93.7%
-$17.9M→-$1.1M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Accounts Receivable
Balance Sheet
-90.6%
$127K→$12K

Receivables declined — improved collection efficiency or conservative revenue recognition.

Current Assets
Balance Sheet
+14%
$13.2M→$15.0M

Current assets grew 14% — improving short-term liquidity or inventory/receivables build.

Cash & Equivalents
Balance Sheet
+12.7%
$12.6M→$14.2M

Cash grew 12.7% — improving liquidity position supports investment and shareholder returns.

Current Liabilities
Balance Sheet
+10.2%
$3.8M→$4.2M

Current liabilities rose 10.2% — increased short-term obligations, watch current ratio.

LANGUAGE CHANGES
NEW — 2025-09-29
PRIOR — 2024-09-30
ADDED
(Exact name of Registrant as specified in its Charter) Delaware Delaware 99-3845448 (State or other jurisdiction of incorporation or organization) (I.R.S.
The listed documents should be clearly described for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980).
Market for Registrant s Common Equity, Related shareholder Matters and Issuer Purchases of Equity Securities 86 Item 6.
Security Ownership of Certain Beneficial Owners and Management and Related shareholder Matters 111 Item 13.
Form 10-K Summary 115 Signatures 116 i Basis of Presentation Neuphoria Therapeutics Inc.
is a Delaware corporation ( Neuphoria ) listed on the Nasdaq Global Market.
We were formally known as Bionomics Limited ("Bionomics") an Australian company that on October 1, 2024 entered into a Scheme Implementation Agreement with Neuphoria to re-domicile from Australia to the State of Delaware pursuant to a Scheme of Arrangement under Australian law.
On December 23, 2024, the re-domiciliation of Bionomics was implemented and effectuated in accordance with the Scheme Implementation Agreement, as amended.
As a result, (i) holders of ordinary shares of Bionomics received one share of our common stock for every 2,160 ordinary shares of Bionomics held on the Scheme record date; (ii) holders of Bionomics American Depositary Shares ( ADS ) with each ADS representing 180 ordinary shares of Bionomics, received one share of Neuphoria s common stock for every 12 ADSs held on the Scheme record date; and (iii) we became the successor issuer to Bionomics.
Prior to our redomiciliation, since July 1, 2024, we had been reporting as a domestic U.S.
REMOVED
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
Aggregate market value excludes an aggregate of approximately 326,212,573 ordinary shares held by officers and directors and by each person known by the registrant to own 5% or more of the outstanding ordinary shares on such date.
Exclusion of shares held by any of these persons should not be construed to indicate that such person possesses the power, direct or indirect, to direct or cause the direction of the management or policies of the registrant, or that such person is controlled by or under common control with the registrant.
As of September 17, 2024, the registrant had 3,117,662,864 ordinary shares issued and outstanding.
Market for Registrant s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 108 Item 6.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 135 Item 13.
Form 10-K Summary 141 Signatures 142 i Basis of Presentation Bionomics Limited ( Bionomics ) is an Australian company that was incorporated in 1996 and, until July 1, 2024, qualified as a foreign private issuer (as defined in Rule 405 under the U.S.
From July 1, 2024, Bionomics must report as a domestic issuer under the U.S.
Unless otherwise indicated or the context implies otherwise: we, us, or our refers to Bionomics Limited, an Australian corporation, and its consolidated subsidiaries; shares or ordinary shares refers to our ordinary shares; ADSs refers to American Depositary Shares, each of which represents 180 ordinary shares; and ADRs refers to American Depositary Receipts, which evidence the ADSs.
We use our registered and unregistered trademarks, including Bionomics , in this this Annual Report on Form 10-K (the Annual Report ) .
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