Trajan (ASX): Stephen Tomisich on Earnings Recovery, AI & Healthcare

Show Notes

Can Trajan turn its improving earnings and cash generation into sustained growth? In this episode of the Homodeus Research Podcast, Wei Sim speaks with Trajan Group Holdings (ASX) co-founder, CEO and Managing Director Stephen Tomisich about the company’s start to FY27 and its longer-term role in personalised, preventative healthcare. Stephen discusses the September-quarter trading update, the drivers of Trajan’s earnings recovery, improving cash conversion and debt reduction. He explains how manufacturing consolidation, automation and better utilisation of the company’s global footprint could support further margin improvement. The conversation explores Trajan’s components and consumables business, specialised laboratory robotics and growing adoption of blood microsampling for therapeutic drug monitoring. Stephen also discusses AI, mass spectrometry software and multi-year licensing arrangements with two major pharmaceutical companies to support drug discovery. The episode concludes with investor questions on customer concentration, competitive advantages, acquisition priorities, balance-sheet management and the next three to five years of product development. TOPICS COVERED • FY27 first-quarter trading update and earnings recovery • Cash conversion, working capital and debt reduction • Manufacturing consolidation and long-term margin ambitions • Components and consumables growth • Laboratory robotics and workflow automation • AI and analytical data integrity • Mass spectrometry software and drug discovery • Blood microsampling and therapeutic drug monitoring • Personalised and preventative healthcare • Global customer relationships and competitive advantages • Foreign exchange, tariffs and capital equipment demand • Acquisition strategy and capital allocation • New products and the longer-term growth roadmap