ImpediMed (IPD) AGM 2024 summary

Opening remarks and agenda

• Chair welcomed attendees, acknowledged traditional land owners, confirmed quorum, and meeting validity.

• Introduced board members, executive team, company secretary, share registry, and audit partner.

• Outlined meeting structure: business update, CEO presentation, Q&A, and formal business with voting.

• Agenda included FY24 financial review, strategy to accelerate sales and control costs, focus on BCRL application, introduction of new team, and discussion of key forward indicators and value proposition.

Financial performance review

• FY24 total revenue was $10.3M, down 9% due to cessation of AstraZeneca clinical trial revenues.

• SOZO Core Business revenue grew 14% to $9.7M, with ARR up 18% to $11.0M and gross profit margin at 87%.

• 250,000 patient tests conducted, up 18% from FY23; 113 SOZO units sold globally, up 16%.

• US business accounted for 90% of revenue; SOZO Core Business TCV up 29%.

• Cash balance at FY24 close was $24.6M.

Board and executive committee updates

• Board reconstituted in September last year, shifting focus from R&D to commercialization.

• Dr. Parmjot Bains appointed CEO, McGregor Grant became CFO/COO, and new directors with diverse backgrounds joined.

• Executive team strengthened with leaders in sales, marketing, product development, and HR.

• Board and management team recognized for stability, operational experience, and rapid execution of new strategy.

• Board members contributed expertise in risk, IT, product roadmap, and IP oversight.