• Sales of CONNEQT Pulse showing strong momentum with ~3,000 units under contract, LOIs or sold direct-to-consumers since launch
• Launched industry-first Cardiology Report feature in the CONNEQT App to drive digital and recurring revenues
• Streamlined operational model, with cost base reduced by 30% delivering a resilient, scalable growth platform

Cardiex Ltd has reported strong sales momentum for its CONNEQT Pulse device, with approximately 3,000 units either sold directly to consumers or secured under contracts and letters of intent (LOIs) since the mid-January launch. This robust performance within just 2.5 months of commercial availability validates the company's strategic focus on penetrating new market segments with its central arterial waveform technology. The company has also seen encouraging early demand from international markets, including significant LOIs and contracts with a Southeast Asian distributor and a MedTech partner in the Americas. Post-quarter, April closed with a projected annual Pulse sales run rate of $1.7 million, which is expected to increase to $4-5 million by the end of June. During the quarter, Cardiex significantly strengthened the CONNEQT ecosystem with the launch of an industry-first Cardiology Report feature in the CONNEQT App, delivering a comprehensive, personalized cardiovascular health assessment. The company also integrated the CONNEQT App with the Apple Health app on iPhone, allowing users to securely sync their data. On the operational side, Cardiex has made substantial progress in centralizing its engineering and development teams in Sydney, reducing the company's cost base by 30% and resulting in annualized cost savings of approximately $4.7 million. These cost efficiencies are already contributing positively to cash flow, with full benefits expected to be realized in Q1 FY26. The company is well-positioned to capitalize on expected growth in CONNEQT Pulse sales, digital and recurring revenue streams, and increased demand in the research and pharmaceutical markets.

Internal forecasts suggest that, subject to certain assumptions, Cardiex is on track to achieve positive EBIT at projected revenues of ~$12 million, including anticipated CONNEQT Pulse sales of 12,000 units.

Cardiex is entering FY26 with a streamlined business model, clear strategic focus, and a strong vision for category leadership in preventative cardiovascular care. The company is well-positioned for sustainable growth, with proactive mitigation strategies around U.S. regulatory delays and tariffs, and a resilient pipeline across research and pharma markets.