• Loss for the half-year increased to $3,967,663 due to higher operating expenses, including non-cash share-based payment expenses
• Received $1.2 million in grant income and $2.6 million in R&D tax incentive rebates
• Executed a $3 million CRC-P grant for a regional stroke benefits study

EMVision Medical Devices Ltd reported a loss of $3,967,663 for the half-year ended 31 December 2025, an 11% increase from the prior period. The higher loss was driven by increased operating expenses, including a $1,269,189 non-cash share-based payment expense, compared to $465,711 in the prior period. Adjusting for this non-cash item, the underlying operating performance remained broadly in line with expectations. The company received $1.2 million in grant income from various government programs, including the Australian Stroke Alliance, Industry Growth Program, and Cooperative Research Centres Projects. It also recorded $2.6 million in R&D tax incentive rebates. During the half-year, EMVision executed a $3 million Cooperative Research Centres Project grant with the Australian Government to lead a collaboration on accelerating stroke diagnosis and management in regional emergency departments. Operating cash outflows increased to $5.9 million as the company invested in employee expenses and R&D to support ongoing clinical trial activities. The company had a strong net asset position of $19.7 million at 31 December 2025, including $17.5 million in cash. Developing and commercializing new medical devices carries significant opportunities and risks, which EMVision mitigates through experienced personnel and compliance with regulatory standards.