• Revenues from ordinary activities down 5.2% to $5.6 million
• Net loss after tax of $635,660, improved from prior period
• Cash generated from operations of $558,516, compared to cash use of $973,320 in prior period

Hydrix Limited has reported its financial results for the half-year ended 31 December 2024. The company's revenues from ordinary activities were $5,597,012, down 5.2% from the prior comparative period. The net loss after tax attributable to the owners of Hydrix Limited was $635,660, an improvement from the $3,795,571 loss in the prior period. This was due to cost reduction initiatives implemented in the last 12 months, as well as no impairment expenses in the half. Total operating costs for the period decreased by 24% to $6,362,538. Cash generated in operating activities during the period was $558,516, compared to cash used of $973,320 in the prior period, due to lower operating costs and improved working capital management. Hydrix Services, the company's product design and engineering business, generated revenues of $5,595,872, slightly down from the prior period. Contracted sales for the 6 months ended 31 December 2024 totalled $7.4 million, while sales for the calendar year were $13.1 million, the strongest in 5 years. Hydrix Medical, the company's cardiovascular technology distribution business, continues to build its sales pipeline, which currently stands at over $2.0 million in potential annual recurring revenue. Hydrix Ventures, the company's medtech investment arm, holds investments valued at $3.4 million as of 31 December 2024.

The business prospects for the consolidated entity remain strong, noting that management anticipates business conditions to remain fluid. The key objective for the remainder of the financial year is to drive the consolidated entity to cash operating profit on the back of sales conversions, higher revenue, higher margins and billable utilisations, benefited by the impact of a full 12 months of reduced operating cost structures.