4DMedical (4DX) Q1 2025 TU earnings summary

Executive summary

• Q1 FY2025 operating revenue reached $1.4m, a 366% increase year-over-year, driven by SaaS product growth and new contracts in North America and Australia.

• Cash balance stood at $20.5m as of 30 September 2024, with an additional $7m in grant funding expected in Q2 FY2025.

• Signed a transformative 5-year reseller agreement with Philips, granting exclusive access to U.S. government customers and non-exclusive rights to commercial customers.

• Awarded $1.9m CRC-P grant for CT:VQ clinical trials and presented key population health screening findings at CHEST conference.

Financial highlights

• Operating revenue for Q1 FY2025 was $1.4m, up 366% compared to Q1 FY2024.

• General Radiology SaaS income rose 69% year-over-year, supported by increased distributor sites and direct B2B growth.

• Net cash operating outflows (excluding Imbio integration costs) were $9.7m, down from $10.1m in Q4 FY2024.

• Cash and cash equivalents at quarter-end were $20.5m, down from $30.6m at the previous quarter-end.

• Payments to related parties totaled $0.4m for the quarter, covering director salaries and fees.

Outlook and guidance

• Expecting $7m in grant income and tax incentives in Q2 FY2025, including R&D tax incentive and MRFF grant.

• Regulatory filings for CT:VQ and IQ-UIP targeted for calendar year 2025, with FDA clearance for CT:VQ anticipated in 2025.

• Positioned for significant U.S. market expansion via Philips partnership, especially within VA and DoD healthcare systems.

• Ongoing cost control measures and access to capital via ATM facility support near-term funding needs.