• Revenue up 60% to $5.2M
• Normalised Operating EBITDA up 35% to $0.54M
• Free Cashflow up 353% to $0.9M

Resonance Health Ltd, a provider of central imaging, contract research, and investigator site services, reported a strong financial performance in the first half of FY25. Revenue increased by 60% to $5.2 million, driven by growth across the company's three key business segments: SaMD, CRO, and TrialsWest. Normalised Operating EBITDA rose by 35% to $0.54 million, while free cashflow improved by 353% to $0.9 million. The company also reported record cash receipts from customers of $8.3 million, up 160% from the prior corresponding period. Resonance Health's CRO business secured a major $13.8 million contract, contributing to total CRO contract wins of $20.1 million since August 2023. The company's SaMD business continued to expand its service offerings, including the development of a new investigational tool to measure spleen iron on 3 tesla MRI machines. The TrialsWest investigator site business opened a second location and is planning a third site for the second half of FY25. Resonance Health's balance sheet remains strong, with $3.5 million in cash and $3 million in borrowings. The company is well-positioned for continued growth, with a solid platform across its three business units and a strong pipeline of opportunities.

Resonance Health expects continued growth in its SaMD business volumes, revenue from the current CRO clinical trial, and the full-year impact of the TrialsWest acquisition in FY25. The company also plans to expand its TrialsWest network with a third trial site opening in Q3 FY25, which is expected to triple the business's capacity.

Resonance Health is well-positioned for strong FY25 performance, building on its strong FY24 results. The company sees several key near-term growth drivers, including increasing its share of the clinical trial ecosystem, leveraging automation to boost capacity, early commercialization of a new non-invasive liver fibrosis device, winning additional CRO work, and expanding its TrialsWest network of investigator sites. The company is also actively pursuing targeted acquisitions to drive further revenue and profit growth.