Company DescriptionCardieX Limited designs, manufactures, and markets medical devices for use in cardiovascular health management in the Americas, Europe, and the Asia Pacific. The company undertakes contracts with pharmaceutical companies for the use of SphygmoCor XCEL devices; provides lab and data management services for clinical trials comprising end-to-end service that delivers clean datasets to study sponsors. It also develops home vascular health solutions, remote patient monitoring, decentralized clinical trials and solutions wearables, and medical health apps under the CONNEQT name, as well as CONNEQT Pulse device, a home-based heart health vital signs monitoring system, that measures central blood pressure, arterial waveforms, and various other proprietary arterial health parameters through its SphygmoCor technology. The company serves hospitals, clinics, research institutions and pharmaceutical companies. It has strategic collaboration agreement with LifeQ, Inc for wearable devices. The company was formerly known as AtCor Medical Holdings Limited and changed its name to CardieX Limited in June 2018. CardieX Limited was founded in 1994 and is based in Sydney, Australia.

How the Company Makes Money

CardieX Limited Financial Statement Overview

Summary

CardieX Limited faces significant financial challenges with consistent net losses, high leverage, and negative cash flows. While the gross profit margin remains strong, it is insufficient to offset the operational and net losses. The company's reliance on financing activities for cash inflows presents sustainability concerns. Strategic improvements in cost control and revenue growth are crucial for financial stability.

Income Statement

Negative

CardieX Limited shows a declining trend in key profitability metrics. The gross profit margin stands at 85.34% TTM but is overshadowed by a negative net profit margin of -254.05% TTM, indicating significant losses. Revenue growth has been inconsistent with a notable drop in TTM compared to the previous annual period. Both EBIT and EBITDA margins are negative, reflecting ongoing operational challenges.

Balance Sheet

Negative

The balance sheet highlights a high debt-to-equity ratio of 0.78 TTM, suggesting potential leverage concerns. The return on equity is negative due to persistent losses, while the equity ratio stands at 38.85% TTM, indicating moderate reliance on equity financing. Overall, the balance sheet is strained with liabilities surpassing half of the total assets.

Cash Flow

Negative

Cash flow analysis reveals significant challenges with negative operating cash flow and free cash flow TTM, indicating cash burn issues. The free cash flow to net income ratio is negative, reflecting insufficient cash generation relative to reported losses. Financing activities have been a major source of cash inflows, which may not be sustainable long-term.

TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Breakdown
Income Statement		Total Revenue
5.72M	10.91M	4.60M	4.07M	5.00M	4.29M
	Gross Profit
4.89M	10.11M	3.70M	3.13M	4.10M	3.59M
	EBIT
-12.31M	-4.63M	-15.35M	-12.66M	-4.86M	-3.67M
	EBITDA
-12.23M	-5.35M	-18.98M	-11.36M	-5.19M	-3.37M
	Net Income Common Stockholders
-14.55M	-6.77M	-19.06M	-11.38M	-5.55M	-3.32M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
4.98M	5.35M	6.27M	2.50M	5.20M	2.79M
	Total Assets
13.21M	12.65M	14.30M	12.38M	11.26M	10.68M
	Total Debt
4.44M	3.86M	2.11M	2.07M	1.17M	2.24M
	Net Debt
-545.48K	3.38M	1.40M	613.88K	-2.50M	174.69K
	Total Liabilities
6.26M	8.56M	15.30M	5.77M	3.35M	4.80M
	Stockholders Equity
6.95M	4.09M	-1.00M	6.61M	7.91M	5.88M
Cash Flow		Free Cash Flow
-15.22M	-7.84M	-12.08M	-10.06M	-4.33M	-1.91M
	Operating Cash Flow
-15.11M	-7.72M	-12.00M	-9.62M	-3.97M	-1.70M
	Investing Cash Flow
-110.71K	-118.41K	-80.28K	-438.06K	363.16K	-3.70M
	Financing Cash Flow
14.31M	7.59M	11.35M	7.41M	5.29M	2.47M

CardieX Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (54)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CDEXF		$13.79M	―	-467.81%	―	―	―
Sector *	54 Neutral	$5.31B	3.26	-45.10%	2.79%	16.76%	0.02%
CHEOF		$11.43B	46.62	20.61%	1.61%	―	―
CMXHF		$76.28B	26.67	15.38%	1.85%	―	―
VHLUF		$44.16M	―	-185.67%	―	―	―
NNCSF		$850.15M	75.42	9.23%	―	―	―
RMD	79 Outperform	AU$56.78B	27.93	25.23%	0.85%	10.54%	38.69%

* Healthcare Sector Average

Performance Comparison

CDEXF

CardieX Limited

0.36

0.00

0.00%

CHEOF

Cochlear

174.50

-41.51

-19.22%

CMXHF

CSL

162.19

-22.46

-12.16%

VHLUF

Vitasora Health

0.06

<0.01

20.00%

NNCSF

Nanosonics Limited

2.72

0.73

36.68%

AU:RMD

Resmed Inc CHESS Depositary Interests on a ratio of 10 CDIs per ord.sh

38.23

6.84

21.79%

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.