4DMedical (4DX) investor relations material

Market opportunity and product differentiation

• Functional lung imaging is enabled by nine FDA-cleared devices and over 120 patents, with a global presence across three continents and 175 team members.

• CT:VQ is the only FDA-approved technology measuring both airflow and blood flow without injected contrast, offering a significant advantage over nuclear medicine VQ and dual energy CT.

• The U.S. market alone represents a $500 million opportunity by replacing 1 million annual nuclear VQ scans, with a broader $3 billion TAM targeted through ongoing studies.

• Recent acquisition of contextflow expands lung cancer screening capabilities and strengthens the European footprint.

• The product portfolio now includes both structural and functional imaging, providing a comprehensive solution for radiology departments.

Clinical outcomes and adoption

• Peer-reviewed studies show CT:VQ improves surgical planning success rates from 46% to 76%, halving failure rates and reducing patient workup time from seven to three weeks.

• The technology is positioned as a direct, one-for-one replacement for nuclear VQ, requiring minimal training and enabling rapid adoption.

• Adoption is accelerating, with five of the top 20 U.S. hospitals and SimonMed integrating the technology, and a pipeline expected to surge by year-end.

• Generation two products are now at 540 sites, up 39%, with strong scan and revenue growth and robust clinical adoption.

• CMS reimbursement at $650 per scan enables hospitals to retain $150 per scan, making adoption financially attractive.

Strategic growth and partnerships

• The CLEAR study at Harvard/Mass General targets an additional 5 million scans per year, with results expected in 2027.

• Expansion into Europe is accelerated by the contextflow acquisition, providing immediate commercial operations and insurer relationships.

• Partnership with Philips and potential $20 million pilot under the AIR CARE for Vets Act could lead to a $200 million annual contract with the U.S. military.

• SimonMed partnership enables rapid integration across 170+ imaging centers in 10 states, with a reimbursement playbook to be leveraged nationwide.

• Strong cash position (AUD 278 million) supports aggressive investment in sales, evidence generation, and global expansion without near-term capital needs.