Cyclopharm (CYC) Investor Update summary

Strategic growth and market expansion

• Secured major US contracts, including a five-year VA agreement and the largest private healthcare network, validating product capabilities and driving momentum for 2025.

• Technegas is now sold in 66 countries, with direct marketing in 17, leveraging a global sales and service footprint and over 5 million patient procedures performed.

• US FDA approval and CMS reimbursement in 2024 enabled a commercial launch, with significant revenue growth and expansion initiatives beyond pulmonary embolism.

• Targeting 2,000 of 8,000 US nuclear medicine departments, aiming for 250-300 installations by late 2026.

• US market strategy focuses on generator placements with recurring consumable revenue, estimating $70,000 per site annually.

Financial performance and outlook

• Achieved record sales revenue of $27.6 million, up 5% year-on-year, with Technegas revenue at $15.2 million and third-party distribution at $12.4 million.

• US Technegas revenue reached $827,000 by December, with strong momentum and a 131% increase in H2 over H1.

• Net loss after tax was $13.2 million, reflecting increased US investment and higher costs.

• Closed 2024 with AUD 20.6 million in cash, supporting ongoing growth strategies.

• Successful $20 million capital raising and $4 million share purchase plan in 2024 demonstrate strong shareholder support.

Product and technology leadership

• Technegas is recognized as the agent of choice in nuclear medicine guidelines across 66 countries and endorsed by European and Canadian guidelines.

• Over 5 million patient studies conducted; product delivers true functional ventilation imaging with low radiation and superior diagnostic accuracy.

• FDA-approved for broad respiratory indications, enabling expansion beyond pulmonary embolism without further approvals.

• Unique drug-device-service combination creates regulatory barriers and recurring revenue via per-patient consumables.

• AI and analytical software integration are enhancing imaging capabilities and clinical value.