• Revenues down 83% year-on-year, net loss of $6.97 million
• Successful launch of CONNEQT Pulse device and app
• Secured $3.25 million capital raise, streamlined operations for growth

Cardiex Ltd has reported its half-yearly results for the period ended 31 December 2024. The company's revenues from continuing operations decreased by 83% year-on-year to $1.64 million, while it reported a net loss of $6.97 million compared to a net profit of $807,254 in the previous corresponding period. The company attributed the revenue decline largely to the settlement associated with the Clinichain clinical trial. Despite the financial challenges, Cardiex achieved several significant milestones during the period. It placed its first commercial order of 8,000 CONNEQT Pulse devices with its manufacturing partner Andon and commenced deliveries to U.S. customers towards the end of the period. The company also launched the CONNEQT App, which forms an integral part of the digital ecosystem supporting the Pulse device. Cardiex expanded its pharma teams in Europe and APAC and secured commitments for 1,500 CONNEQT Pulse units across several international markets. The company continued to make progress on regulatory approvals for its products in various markets. Cardiex also conducted a $3.25 million capital raise to fund manufacturing, sales and marketing of the Pulse device. Additionally, the company implemented a number of operational changes, including centralizing its engineering and development teams in Sydney, to improve efficiency and reduce costs. Looking ahead, Cardiex is optimistic about its growth prospects, with the successful launch of the CONNEQT Pulse and the rollout of the CONNEQT App laying the foundation for further market penetration and revenue growth.

Cardiex is optimistic about its growth prospects, with the successful launch of the CONNEQT Pulse and the rollout of the CONNEQT App laying the foundation for further market penetration and revenue growth. The company has a strong pipeline of opportunities and will continue to leverage its strategic partners to deliver value to shareholders.