Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 395

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 395
---
4, compared to 97.1% and 3.0%, respectively, in the year ended June 30, 2023. Cost of revenues Cost of revenues decreased by $45,705, or 2.4%, from $1,920,443 in the year ended June 30, 2023, to $1,882,235 in the year ended June 30, 2024. The reduction was mainly attributed to lower demand for diagnostic tests, leading to a proportional decrease in the utilization of reagents, sequencing consumables, and sample processing services. In addition to the reduced test volumes, several operational improvements contributed to lower reagent and consumable consumption: • operational efficiencies: sequencing workflow optimizations, including reducing machine runtime, led to a more efficient use of reagents and consumables; • improved sequencing efficiency: enhancements in sequencing protocols resulted in a reduced need for reagents per sample, optimizing their usage; and • streamlined sample processing: process improvements in sample preparation allowed for more efficient use of consumables such as extraction kits and buffers. These factors, combined with the lower test volumes, led to a decrease in the cost of revenues associated with genomic testing. Selling expenses Sales and marketing expenses decreased by $48,226, or 10.7%, from $451,207 in the year ended June 30, 2023, to $402,981 in the year ended June 30, 2024. This decrease was primarily attributed to a more efficient allocation of marketing expenditures, particularly within the Rewell segment. As the marketing strategy transitioned from a direct -to -consumerapproach to a business -to -businessmodel, the Company decreased its reliance on third -partyprofessional services, such as external digital marketing agencies and consultants, leading to a reduction in related costs. General and administrative expenses Administrative expenses increased by $2,312,361, or 418.9%, from $551,955 in the year ended June 30, 2023, to $2,864,316 in the year ended June 30, 2024. This significant increase was primarily driven by an increase in share -basedpayments and higher professional service fees related to transaction expenses associated with the Business Combination Agreement. Regarding the significant rise in share -basedpayments, during the reporting period ended June 30, 2024, an expense of $1,226,867 was recognized in connection with the CEO’s share -basedcompensation plan that was granted after year -end, due to the services