Cogstate Ltd (AU:CGS) has released an update.
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Cogstate Ltd reported a solid financial performance in FY24, with a 7% increase in group revenue to $43.4 million and a significant 135% jump in profit before tax to $7.1 million compared to the previous year. Despite a decrease in new contract sales for clinical trials and a 16% drop in contracted future revenue, the company maintains a healthy cash flow and has re-acquired global rights to its technology. The outlook for FY25 appears promising with $33.6 million in net new contracts already secured.
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