4DMedical (4DX) H2 2024 earnings summary

Executive summary

• Achieved 422% increase in operating revenue to $3.8m, total income $14.8m, and net loss after tax of $36.0m for FY24.

• Completed $40m acquisition of Imbio, expanding AI-driven lung diagnostics portfolio and accelerating US market entry.

• Signed a transformative 5-year reseller agreement with Philips for exclusive US government distribution and non-exclusive commercial rights.

• Secured US CMS reimbursement for XV LVASⓇ ($299/scan) and CT LVAS™ ($650.50/scan), opening access to over 4,000 Medicare-certified hospitals.

• Maintained strong cash reserves of $30.6m and zero debt at year-end.

Financial highlights

• FY24 operating revenue from customers: $3.8m (up from $0.7m in FY23).

• Total income: $14.8m, including $4.5m R&D tax credits and $6.5m grant income.

• Net underlying operating expenditure: $30.3m (down 3.4% after excluding Imbio transaction costs).

• Net loss after tax: $36.0m (vs. $31.5m loss in FY23).

• Cash and cash equivalents: $30.6m (down from $69.6m in FY23).

• Net assets: $70.9m.

Outlook and guidance

• Philips reseller agreement expected to drive large-scale US commercial coverage, especially in government and VA sectors.

• Continued expansion in Australia, including support for the National Lung Cancer Screening Program.

• Ongoing product development with CT:VQ and IQ-UIP FDA submissions in progress.