Reimbursement Coverage Expansion
National reimbursement coverage increased to 93%, representing 323 million covered lives (+5 percentage points QoQ). States with >90% coverage rose from 7% to 39% since the start of the financial year (fivefold increase), bringing the company closer to its 100% coverage goal for BCRL.
Record Quarterly Revenue
Quarterly revenue reached a record $3.9 million, up 18% year‑on‑year and 8% quarter‑on‑quarter.
Improved Cash Receipts and Reduced Cash Outflow
Cash receipts rebounded to $3.8 million (up 12% QoQ). Operating cash outflow improved to $2.9 million from $5.6 million in the prior quarter (≈48% reduction), extending runway; cash balance at 31 Dec was $18.9 million, equivalent to 6.5 quarters of operating cash flow.
Strong ARR Growth and Contract Pricing
Contracts in place are expected to generate $14.4 million ARR for the 12 months to 31 Dec 2026, representing a 15% YoY increase. Renewals showed solid price increases averaging 14% for the quarter.
Geographic and Product Sales Strength
Rest‑of‑world revenue surged 67% QoQ, driven by Australian distributor orders for SOZO and SOZO Pro ahead of heart health expansion. Over 600 devices are now deployed in the U.S., including installations in 18 of the top 25 U.S. hospitals and 27 master service agreements with major IDNs.
Regulatory and Product Milestones
Received FDA clearance for a bilateral lymphedema algorithm (enables monitoring of at‑risk bilateral patients) and filed a new 510(k) for expanded body composition capability to target wellness, weight management and survivorship markets. SOZO Pro launched with in‑built scales, 220kg capacity and removal of cardiac implantable contraindications.
Clinical and Market Progress
Clinical adoption momentum: first heart health sales in progress, wellness/weight management commercial team in place with >3,000 identified leads, and >700 validated BCRL opportunities in the sales pipeline. Patient testing trended upward (+1% QoQ) with a 3‑year CAGR of 15%.
Operational and GTM Enhancements
Launched a revamped corporate website and a wellness microsite, strengthened EHR interfaces, initiated AI programs to improve customer responsiveness, and plan extensive conference attendance (multiple upcoming conferences) to accelerate conversions.