Cogstate (CGS) investor relations material

Sales momentum and diversification

• FY26 sales contracts reached AUD 67.1 million in the first nine months, making it the second-best year on record, with 47% from Alzheimer's, 35% from mood, sleep, and other neurological, 14% from rare diseases, and 4% from cancer/metabolic/other indications.

• Sales contracts and opportunities have increased substantially over the last 18 months, driven by more trials, a broader mix, higher value per trial, and rising R&D spend in CNS diseases.

• Diversification beyond Alzheimer's into psychiatry, narcolepsy, and rare diseases is accelerating, supported by deepening relationships with large pharma and expansion into new indications.

• Channel partners like Medidata and Clinical Ink are key contributors to sales growth, with new potential partners being explored.

• Upcoming financial updates include the June quarterly release on July 8 and full-year results on August 18.

Solution and technology expansion

• Proprietary digital cognitive assessments and central rating services are core differentiators, enabling high-quality, scalable data collection and analysis.

• Expansion of solutions, including central rating and digital assessments, is increasing revenue per contract and share of wallet.

• AI-powered analytics and workflow automation are being integrated into the clinical trials delivery platform, enhancing scalability, efficiency, and customer experience.

• Strategic partnerships and technical integrations with eCOA partners embed solutions into sponsor workflows, reducing risk and burden for sites and patients.

• Technology-enabled operations and AI support growth without a linear cost increase.

Growth in narcolepsy and psychiatry

• Narcolepsy and broader sleep-wake disorder trials are expanding rapidly, with significant industry investments and successful phase III results for orexin agonists.

• Digital assessments were pivotal in demonstrating cognitive benefits in Takeda's phase III narcolepsy trials, now under FDA review.

• The orexin mechanism is being explored in multiple new indications, including ADHD, major depressive disorder, and neurodegenerative diseases.

• Psychiatry and sleep/wake disorder trials are growing 8–12% annually, driven by new drug classes, increased global disease burden, and tech-enabled models.

• Central rating and advanced rater training, including AI-based approaches, are reducing placebo effects and improving data reliability in psychiatric trials.