Non-executive independent director Anna Stove, chief executive Dr Peter Meintjes, chief financial officer Grant Gibson, director global marketing Mike Hankey. Photo: Pacific Edge / supplied
The bladder cancer diagnostic firm Pacific Edge is celebrating 20 years since it listed on the NZX, growing significantly over that time without ever making a bottom-line net profit.
Company executives gathered at NZX's Auckland offices Thursday morning to ring the market's opening bell and celebrate the tech company's achievements with supporters and advisors.
Chief executive Peter Meintjes said the NZX listing had helped the company raise growth capital over the past couple of decades, which has been key to its success.
The company had also been listed on the ASX since 2021.
"New Zealand has obviously been our long-standing home for both the company and our very loyal pool of investors, but a listing on the Australian Stock Exchange (ASX) offers us access to Australian capital more easily and greater liquidity, than on the NZX," Meintjes said.
The company was focused on growth in its key markets, including the United States, he said.
"So the phrasing 'turn a profit' is probably not the most important metric for us, but it is about growth.
"The growth does need to outstrip expenses and so that is a focus of ours, but at an early stage, it is about top-line revenue growth and becoming valued based on our fundamentals, which is revenue... and to be able to operate profitably."