4DMedical (4DX) H2 2026 earnings summary

Executive summary

• Achieved FDA clearance and CMS reimbursement for CT:VQ™, the first non-contrast, CT-based ventilation-perfusion imaging technology, with reimbursement set at US$650.50 per scan from launch.

• Rapid commercial adoption in the U.S. by leading academic medical centers and a major outpatient network, with expansion into Australia and Europe following regulatory approvals.

• Strategic partnerships and acquisitions, including Philips for North American distribution, contextflow for European expansion, and collaborations with AstraZeneca and GSK for pharmaceutical and screening programs.

• Clinical validation published in top journals, with evidence supporting improved patient selection for lung surgery and expansion into the pulmonary embolism market.

• Ended FY26 with 540 global SaaS sites, 344,075 scans (up 77% YoY), and a strong cash position of $278 million.

Financial highlights

• Operating revenue for FY26 was $7.1 million, up 21% vs FY25, with gross margins exceeding 90%.

• Underlying SaaS revenue rose 23% YoY, driven by increased global B2B SaaS penetration.

• Adjusted net loss for FY26 was $32.9 million, a 7% improvement over FY25.

• Statutory result includes a non-cash expense of $164.6 million related to the Pro Medicus facility, not reflective of operating performance.

• Cash balance at 30 June 2026 was $278 million, providing significant runway for strategic objectives.

Outlook and guidance

• Focus for FY27 is on converting regulatory, clinical, and commercial momentum into routine, at-scale scan volume.

• Continued execution to establish CT:VQ™ as the standard of care for functional lung assessment worldwide.