Quarterly Activities/Appendix 4C Cash Flow Report
| Stock | Painchek Ltd (PCK.ASX) |
|---|---|
| Release Time | 30 Apr 2025, 8:47 a.m. |
| Price Sensitive | Yes |
PainChek Reports Quarterly Progress, FDA Clearance Advancing
- Positive progress with FDA on De Novo clearance for US market entry
- Infant App now commercially available on Apple Store
- 101,000 contracted licences globally with an ARR of $4.9M
PainChek Ltd has announced its quarterly activities and cashflow report for the quarter ended 31 March 2025. Key highlights include positive progress with the FDA on De Novo regulatory clearance for the US market, the commercial availability of the Infant App on the Apple App Store in Australia, and continued growth in contracted and implemented licences globally. The company has over 101,000 contracted licences globally with an ARR of $4.9M, a 12% increase on the prior year. Implemented licences have reached 71,000 globally with an ARR of $3.4M, a 17% increase on the prior year. The company has also seen strong customer retention, with over 50% of existing clients having contracts for more than 3 years. The global utilisation of the PainChek platform continues to grow, with over 10.2 million cumulative assessments conducted, a 105% increase over the previous year. The company is also making progress in the North American market, with the FDA review process advancing positively and the company engaging with key partners like PointClickCare. The launch of the Infant App in Australia marks a key milestone, with the company taking a measured approach to rollout and gathering user feedback to optimise the product before a wider launch.
PainChek expects to receive FDA clearance for the PainChek Adult App in the first half of 2025, which would provide the basis for expansion into the US market, a potential value of $100,000,000 USD per annum in aged care alone.
PainChek is continuing to gather feedback on the Infant App through its partnership with Kiindred, and is exploring alternative pricing models to better align with user preferences. The company is also focused on accelerating traction with pilots and phased implementations in the UK market, and building a strong pipeline of new customers in the aged care and home care markets globally.