Cogstate (CGS) Investor Presentation summary

Strategic positioning and market opportunity

• Specializes in CNS endpoint solutions, offering digital cognitive testing and advanced analytics for neuroscience clinical trials.

• Holds a 25-year track record with proprietary assessment IP, validated in real-world and peer-reviewed research.

• Partners with leading pharma/biotech and leverages a global network of 300+ neuropsychiatric professionals across 50+ languages.

• Strategic alliances, including with Medidata, enhance integrated digital offerings and trial efficiency.

• Estimated CNS endpoint market segment to grow from $600–700M to $1.0–1.3B by 2030, with 10–15% CAGR expected.

Growth, diversification, and innovation

• Expanded offerings and product innovation drive increased market share and contract value.

• Network now includes over 360 consulting clinicians supporting 51 languages, enabling centralized assessment and telehealth visits.

• Channel partnerships and integrations with industry leaders like Medidata, THREAD, and Clinical Ink support growth.

• Sales contracts in psychiatry/mood trials reached $6.9M in 1Q26, up from $3.2M in all FY25.

• 1Q26 sales contracts totaled $21.4M, up 88% year-over-year, with diversification across Alzheimer's, depression, rare diseases, and more.

Financial performance and shareholder structure

• FY25 revenue reached $53.1M (up 22%), with clinical trials revenue at $50.6M (up 28%).

• Profit before tax was $13.9M (up 96%), and NPAT was $10.1M (up 86%).

• Gross margin was 61%, EBITDA margin 30%, and EBIT margin 25%.

• Operating cash flow was $11.5M, with a cash balance of $35.6M after a $4.8M share buy-back.

• Paid a fully franked dividend of A$0.02 in Sep 2025, with a payout ratio of 20–50% NPAT annually.