FY25 Preliminary Results Summary and Company Update

• 10% increase in revenue (ex-Clinichain) in FY25
• Significant operational and streamlining initiatives reduced expense base to $10-$12m
• Cash position strengthened with $2.4m on hand, $1.2m from June placement, and $1.6m R&D rebate

Cardiex Limited (ASX: CDX) has released a summary of its FY25 preliminary results and provided an update on the company's financial position and operational progress. The key highlights include:Revenue: Cardiex delivered a 10% increase in revenue (ex-Clinichain) in FY25, reaching $6.3 million. This includes the first revenues from the Pulse product, which launched in H2 FY25.Expenses: The company implemented significant operational and streamlining initiatives during H2 FY25, which have substantially reduced the expense base to an annualized $10-$12 million (excluding COGS and marketing). This represents a significant reduction compared to FY24 and early FY25 levels, positioning Cardiex with a leaner and more sustainable cost structure.Cash Position: As of June 30, 2025, Cardiex had $2.4 million in cash. The company is also expecting an additional $1.2 million from the June placement (subject to shareholder approval) and approximately $1.6 million from the FY25 R&D Incentive cash rebate in the coming months. These inflows will further strengthen the company's liquidity to support operations and growth initiatives.Net Assets and Capital Position: Cardiex's net assets increased by 37% to $5.6 million during the year. C2 Ventures (C2V) has confirmed its full participation in the June Placement (subject to shareholder approval) and has advised of its intention to provide further capital support. This endorsement from C2V, combined with cost reductions and new revenue streams from Pulse and Xcel, places Cardiex in a stronger financial position to execute on its FY26 growth strategy.