Note 8 - Revenue

6 Months Ended

Jun. 30, 2024

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,
	2024		2023		2024		2023
	A$		A$		A$		A$
Major product/service lines
Coagulation testing products		799,736		245,066		1,427,728		825,625
Laboratory testing services		253,588		187,410		543,255		307,915
Wine testing products		541,683		563,217		1,068,371		1,157,617
Veterinary diabetes products		30,559		308,044		55,722		308,044
		1,625,566		1,303,737		3,095,076		2,599,201
Timing of revenue recognition
Products and services transferred at a point in time		1,625,566		1,303,737		3,095,076		2,599,201

Contract Balances

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

	Six Months Ended June 30,
	2024		2023
	A$		A$
Receivables		1,394,657		1,464,254
Contract liabilities		24,429		34,483

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:

	Six Months Ended June 30,
	2024			2023
	A$			A$
Contract Liabilities – current:
Opening balance		36,132			29,851
Closing balance		24,429			34,483
Net increase/(decrease)		(11,703	)		4,632

The Company expects all of the Company’s contract liabilities to be realized by December 31, 2024.

Universal Biosensors, Inc.

Notes to Consolidated Condensed Financial Statements (Unaudited)