Top Page
4DMedical Ltd
(Sydney:4DX)
4DMedical Ltd (4DX) vs. iShares MSCI Australia ETF (EWA)
4DMedical Ltd Business Overview & Revenue Model
4DMedical Ltd Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.37M | 5.85M | 3.75M | 718.58K | 1.05M | 216.98K |
| Gross Profit | 4.05M | 5.39M | 3.52M | 684.43K | 280.62K | 125.13K |
| EBITDA | -34.14M | -45.82M | -31.86M | -33.74M | -35.25M | -18.04M |
| Net Income | -24.62M | -30.07M | -35.98M | -31.46M | -24.59M | -21.42M |
Balance Sheet | ||||||
| Total Assets | 94.81M | 94.81M | 120.02M | 92.92M | 74.31M | 92.64M |
| Cash, Cash Equivalents and Short-Term Investments | 6.88M | 6.88M | 30.61M | 69.58M | 51.11M | 80.88M |
| Total Debt | 4.31M | 4.31M | 5.12M | 5.14M | 6.24M | 1.69M |
| Total Liabilities | 30.58M | 30.58M | 49.09M | 21.46M | 14.80M | 9.28M |
| Stockholders Equity | 64.24M | 64.24M | 70.93M | 71.46M | 59.51M | 83.36M |
Cash Flow | ||||||
| Free Cash Flow | -24.37M | -34.56M | -31.17M | -23.38M | -28.35M | -15.25M |
| Operating Cash Flow | -24.31M | -34.48M | -30.87M | -22.65M | -25.27M | -14.52M |
| Investing Cash Flow | -1.62M | -1.62M | -40.04M | -1.61M | -3.50M | -580.45K |
| Financing Cash Flow | 12.37M | 12.37M | 31.94M | 42.73M | -995.47K | 87.55M |
4DMedical Ltd Technical Analysis
4DMedical Ltd Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | AU$104.47M | -7.78 | -31.98% | ― | 34.20% | -23.90% | |
49 Neutral | AU$263.95M | -159.38 | -2.01% | ― | 16.93% | 76.47% | |
48 Neutral | AU$69.30M | -2.96 | -74.00% | ― | 23.31% | -17.35% | |
47 Neutral | AU$2.47B | -65.16 | -44.49% | ― | 55.91% | 22.60% | |
44 Neutral | AU$171.94M | -16.13 | -70.55% | ― | ― | -257.32% | |
41 Neutral | AU$63.70M | -3.89 | -128.19% | ― | -14.25% | -22.83% |
4DMedical Ltd Corporate Events
4DMedical has secured UC San Diego Health, one of the top-ranked U.S. centres for pulmonology and lung surgery, as the fourth major academic medical centre to deploy its CT:VQ respiratory imaging solution for clinical use. Under an introductory pricing arrangement through March 2026, UC San Diego will integrate CT:VQ into its cardiothoracic imaging program as a high-resolution, contrast-free alternative to traditional nuclear medicine ventilation-perfusion scans. This latest adoption, following earlier deployments at Stanford, the University of Miami and Cleveland Clinic, underscores rapid post-FDA-clearance traction for CT:VQ and strengthens 4DMedical’s strategy of using leading academic institutions as reference sites to drive broader U.S. market uptake and establish its technology as a new standard of care in pulmonary imaging.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited has applied to the ASX for quotation of new fully paid ordinary shares issued following the exercise or conversion of existing options or other convertible securities. The securities, which were issued on 2 January 2026, represent an administrative step to have these newly created shares admitted to trading, modestly increasing the company’s quoted capital base and enabling holders of the converted instruments to participate as ordinary shareholders in the market.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd has applied to the ASX for quotation of 394,446 new fully paid ordinary shares under its 4DX ticker. The additional securities, issued on 2 January 2026 following the exercise or conversion of existing options or other convertible securities, will expand the company’s quoted share capital, modestly increasing its free float and potentially improving liquidity for investors.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical has strengthened its leadership team by appointing long-serving non-executive director and early investor Julian Sutton as Chief Financial Officer and Executive Director, formalising his strategic role after years of involvement in capital strategy, corporate governance and funding activities. The move comes as the company reports strong commercial momentum, with its CT:VQ imaging solution now FDA-cleared and in use at leading U.S. academic medical centres, alongside a global distribution agreement with Philips, positioning 4DMedical for accelerated global scale-up and signalling a focus on executing its commercial strategy and long-term value creation for shareholders.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited has applied to the ASX for quotation of a new batch of fully paid ordinary shares issued following the exercise of options or conversion of other convertible securities. The securities, which were issued on 30 December 2025, represent a routine capital markets event that modestly increases the company’s quoted share base and may provide additional liquidity for investors without indicating a change in strategic direction.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited, listed on the ASX under the code 4DX, has applied for quotation of additional fully paid ordinary shares. The filing indicates that 144,307 new ordinary shares were issued on 30 December 2025, likely following the exercise of options or conversion of other securities, marginally increasing the company’s share capital and providing additional liquidity for investors.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited has lodged an Appendix 2A with the ASX applying for quotation of new fully paid ordinary shares that have been issued following the exercise or conversion of existing options or other convertible securities. The securities, which were issued on 24 December 2025, represent an administrative but necessary step to have these newly created shares admitted to trading on the ASX, marginally increasing the company’s quoted capital base and providing additional liquidity for existing stakeholders who exercised their convertible instruments.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd has applied to the ASX for quotation of 1,580,000 new fully paid ordinary shares, effective 24 December 2025. The securities arise from the exercise of options or conversion of other convertible instruments, modestly increasing the company’s share base and providing additional capital and liquidity to support its ongoing growth in the medical imaging market.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical has issued 70,064 fully paid ordinary shares under its Tax Exempt Employee Share Plan to qualifying employees, reinforcing its use of equity-based incentives to reward and retain staff. The company confirmed that the shares were issued without a prospectus in reliance on relevant Corporations Act provisions and stated it is fully compliant with its financial reporting and continuous disclosure obligations, with no undisclosed price-sensitive information, ensuring transparency and regulatory clarity for existing and potential shareholders.
The most recent analyst rating on (AU:4DX) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd has applied for quotation on the ASX of 70,064 new ordinary fully paid shares issued on 17 December 2025 under its employee incentive scheme. The modest size of the issue suggests a routine equity-based remuneration event designed to reward or retain staff, with limited immediate impact on the company’s capital structure but signalling continued use of share-based incentives in its employee compensation strategy.
The most recent analyst rating on (AU:4DX) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited has applied to the ASX for quotation of a total of 413,652 new ordinary fully paid shares under its ticker 4DX, with 99,979 shares issued on 17 December 2025 and a further 313,673 shares issued on 18 December 2025. The additional securities, arising from the exercise or conversion of existing options or other convertible instruments, will expand the company’s issued capital base and may modestly enhance liquidity in its shares, signalling ongoing use of equity-based instruments in its capital management strategy.
The most recent analyst rating on (AU:4DX) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical has secured a commercial agreement for its CT:VQ respiratory imaging solution with Cleveland Clinic, one of the United States’ most prominent hospitals, marking the third major U.S. academic medical centre to adopt the technology since its FDA clearance. The deployment, which begins with a month of introductory pricing before moving to full commercial terms, strengthens 4DMedical’s strategy to establish CT:VQ as a standard of care in leading academic medical centres and positions Cleveland Clinic as a key reference site, alongside Stanford University and the University of Miami, to demonstrate the technology’s clinical and operational advantages over traditional nuclear VQ imaging and support wider adoption across health systems and community hospitals.
The most recent analyst rating on (AU:4DX) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd announced a change in Director Andreas Fouras’ interests in securities, which involved the acquisition of 4,568,275 unlisted options through an options grant approved at the Annual General Meeting. This move reflects a strategic alignment between leadership incentives and the company’s growth objectives, highlighting confidence in the firm’s market positioning and trajectory.
The most recent analyst rating on (AU:4DX) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd has announced the issuance of unquoted equity securities, including performance rights, options with varied expiration dates and prices, and new class options. These securities are part of an employee incentive scheme aimed at strengthening its workforce and driving long-term growth, emphasizing the company’s commitment to innovation and investments in its strategic workforce planning.
The most recent analyst rating on (AU:4DX) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd has announced a new securities quotation with the issue of 4,251,548 fully paid ordinary shares, effective December 18, 2025. This expansion of securities highlights the company’s efforts to strengthen its capital base, which could bolster operational capabilities and further its market presence. This move is likely to advance the company’s growth strategy, create opportunities for stakeholders, and enhance its standing in the healthcare technology industry.
The most recent analyst rating on (AU:4DX) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd has announced the quotation of new securities on the Australian Securities Exchange (ASX), with a total of 2,327,633 ordinary fully paid shares to be listed. This move is part of the company’s strategy to leverage financial markets for growth and expansion, potentially enhancing its market position and providing additional resources for its operations, which could have significant implications for stakeholders.
The most recent analyst rating on (AU:4DX) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd has announced the quotation of 480,450 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective December 9, 2025. This move is part of the company’s strategy to enhance its market presence and liquidity, potentially benefiting stakeholders by increasing the accessibility and attractiveness of its shares.
The most recent analyst rating on (AU:4DX) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd has issued an update regarding the classification of certain unquoted securities, correcting their status to fall under the company’s 7.1 capacity as per ASX Listing Rules. This adjustment ensures compliance with regulatory standards and reflects the company’s commitment to maintaining transparency and accuracy in its financial disclosures.
The most recent analyst rating on (AU:4DX) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited has secured Canadian regulatory approval for its CT:VQ™ imaging technology, marking a significant expansion in North America. This approval allows for immediate commercial deployment through Philips’ distribution network, tapping into Canada’s substantial market of over 40 million people and 560 CT scanners. The technology offers clinical and logistical advantages over traditional nuclear VQ imaging, potentially capturing significant market share and driving long-term growth in ventilation-perfusion scans. This milestone, combined with the Philips partnership, positions 4DMedical to rapidly scale revenue and establish CT:VQ™ as the standard of care for VQ imaging across North America.
The most recent analyst rating on (AU:4DX) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited has secured $30.2 million in funding through an underwriting agreement with Bell Potter Securities Limited, ensuring the exercise of all 4DXO listed options. This funding boosts the company’s pro forma cash balance to $63.7 million as of September 2025. The company is experiencing significant interest in its CT:VQ™ technology, with multiple contract discussions underway, positioning 2026 as a potentially transformative year. This financial backing supports 4DMedical’s strategy to commercialize CT:VQ™ and establish key U.S. academic medical centers as reference sites, reinforcing its market position and growth trajectory.
The most recent analyst rating on (AU:4DX) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited has announced that the University of Miami has adopted its CT:VQ™ technology for clinical use, marking the second U.S. academic medical center to do so after Stanford. This adoption is part of 4DMedical’s strategy to expand its presence in the U.S. market, supported by an introductory pricing period to encourage early clinical adoption. Additionally, 4DMedical has signed a two-year agreement with Lahey Hospital & Medical Center for the use of its IQ-UIP™ software, further solidifying its position in the respiratory imaging industry.
The most recent analyst rating on (AU:4DX) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited has announced a significant expansion of its distribution agreement with Philips, which will now include the CT:VQ™ technology in its North American product catalogue. This deal, valued at approximately US$10 million over two years, marks a major commercial milestone for 4DMedical, as it leverages Philips’ extensive network to distribute its innovative imaging solution across the United States and Canada. The CT:VQ™ technology offers a superior alternative to traditional nuclear VQ imaging by eliminating the need for radiotracers, thereby streamlining patient access and improving diagnostic capabilities. With over one million nuclear VQ scans performed annually in the U.S., 4DMedical is poised to capture a significant portion of this market, potentially displacing traditional methods entirely.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited announced the expiry of its listed options, exercisable at $1.365, on 31 December 2025. The official quotation of these options will cease on 23 December 2025. This announcement is significant for stakeholders as it provides a deadline for exercising options, potentially impacting investor decisions and the company’s financial strategy.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd has announced the quotation of 53,333 fully paid ordinary securities on the Australian Securities Exchange (ASX) under the code 4DX. This move is part of the company’s ongoing efforts to expand its market presence and enhance its financial flexibility, potentially impacting its operational capabilities and stakeholder interests positively.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd announced the quotation of additional securities on the Australian Securities Exchange, with a total of 189,818 ordinary fully paid securities to be quoted. This move reflects the company’s ongoing efforts to strengthen its financial position and potentially expand its market presence, signaling positive implications for stakeholders and investors.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd addressed a query from the ASX regarding the impairment assessment of its intangible assets, following its acquisition of Imbio Inc. The company outlined its assumptions and evidence provided to auditors, emphasizing its commitment to achieving forecasted revenue growth through commercial activities and partnerships. The company aims to secure an unqualified audit opinion in future financial statements by enhancing its revenue generation strategies.
The most recent analyst rating on (AU:4DX) stock is a Buy with a A$2.25 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited announced the successful passage of all resolutions at its Annual General Meeting, reflecting strong shareholder support. The resolutions included re-elections of directors and the issuance of options and restricted stock units to key personnel, indicating a strategic focus on leadership stability and incentivization. This outcome supports 4DMedical’s ongoing efforts to enhance its market position and operational capabilities in the medical imaging industry.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited has achieved a major milestone with the FDA clearance of its CT:VQ™ technology, the first non-contrast, CT-based ventilation-perfusion imaging solution. This approval, coupled with immediate reimbursement confirmation from CMS, positions CT:VQ™ to potentially replace traditional nuclear VQ imaging, tapping into a billion-dollar market. The company has rapidly expanded its commercial footprint, with Stanford University adopting the technology and partnerships with AstraZeneca in Brazil and key contracts in Australia. These developments, alongside strong financial performance and strategic partnerships, underscore 4DMedical’s growing influence in the respiratory imaging sector.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited presented its achievements and future plans at the 2025 Annual General Meeting, highlighting a 95% increase in SaaS revenue and the successful launch of the CT:VQ solution, which received FDA clearance and its first commercial contract. The company reported a total income of $16.5 million for FY25 and maintained a strong cash balance of $33.5 million. With strategic investments in U.S. market initiatives and global industry conferences, 4DMedical is poised to capitalize on a large global market opportunity, particularly with its CT:VQ solution, which aims to improve patient care by reducing costs and enhancing access.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited announced the withdrawal of Resolution 8 from its upcoming Annual General Meeting agenda due to the ASX not granting a waiver from Listing Rule 7.5.4. This resolution involved ratifying a prior agreement to issue shares to Pro Medicus Limited. The withdrawal will not affect the validity of proxy forms already submitted for other resolutions at the AGM. This decision reflects the company’s adherence to regulatory requirements and may impact its strategic financial arrangements.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd announced the quotation of 492,109 fully paid ordinary securities on the Australian Securities Exchange (ASX) under the code 4DX. This move reflects the company’s ongoing efforts to enhance its financial flexibility and support its growth strategy, potentially impacting its market position and offering new opportunities for stakeholders.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited has announced the commercial rollout of its CT:VQ™ technology at Stanford University, marking the first U.S. Academic Medical Centre to adopt the FDA-cleared technology. This move is part of a broader strategy to establish CT:VQ™ as a new standard of care in pulmonary imaging across leading U.S. institutions. Additionally, 4DMedical, in partnership with AstraZeneca, is expanding its Lung Health Screening Program in Brazil to five more hospitals, significantly increasing the program’s reach and impact. These developments are expected to accelerate clinical adoption and generate real-world evidence, positioning 4DMedical as a leader in respiratory imaging technology.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd has announced the quotation of 377,371 fully paid ordinary securities on the Australian Securities Exchange (ASX). This move is part of the company’s ongoing efforts to leverage financial instruments for growth and expansion, potentially impacting its market position and offering new opportunities for stakeholders.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Limited has issued 1,356,416 fully paid ordinary shares following the exercise of options under its Long Term Incentive Plan. This move, disclosed without the need for a prospectus under the Corporations Act, indicates the company’s compliance with relevant regulations and supports its strategic growth initiatives.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd has announced the quotation of 1,356,416 fully paid ordinary securities on the Australian Securities Exchange (ASX). This move, resulting from the exercise of options or conversion of other securities, is expected to bolster the company’s financial standing and potentially enhance its market position.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd has announced the quotation of 2,404,728 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective from October 9, 2025. This move is part of the company’s strategic efforts to enhance its market presence and provide liquidity to its stakeholders, potentially strengthening its position in the medical technology sector.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.
4DMedical Ltd announced the issuance of unquoted securities, including 679,085 performance rights and 2,711,738 options, as part of an employee incentive scheme. This move is likely to impact the company’s operational strategy by aligning employee interests with company performance, potentially enhancing its market position and stakeholder value.
The most recent analyst rating on (AU:4DX) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on 4DMedical Ltd stock, see the AU:4DX Stock Forecast page.