• Revenue from ordinary activities up 12% to US$26.9 million
• Clinical Trials revenue up 13% to US$25.7 million
• Net profit after tax up 16% to US$4.5 million

Cogstate Limited has reported its financial results for the half-year ended 31 December 2025. The Group's net profit before tax for the period was US$5,341,147, compared to US$5,219,996 for the previous corresponding period, an increase of US$121,151 or 2%. Revenue from ordinary activities increased 12% to US$26,919,663, with Clinical Trials revenue up 13% to US$25,700,254 and Healthcare revenue of US$1,219,409, consistent with the previous corresponding period. The Group's EBITDA increased 5% to US$6,528,406. Contracted future Clinical Trials revenue was up 10% to US$92,323,887, while total contracted future revenue increased 6% to US$104,851,843. The Group's net assets increased by 9% to US$51,593,021 as at 31 December 2025. The Board has determined not to declare an interim dividend for the half-year, but will consider a final dividend at year end.

The Group has not provided any high-importance, price-sensitive forward-looking financial metrics or guidance.