• $2.5 million first-stage development contract signed with SynCardia (USA)
• Strong sales start to 2026 with $3.7 million in new contract signings
• First half revenues of $4.9 million, with 15 client engagements with potential for $40 million in future revenues

Hydrix Limited (ASX: HYD) has released its Appendix 4D for the first half ended 31 December 2025 and provided a market update. Key highlights include a $2.5 million first-stage development contract signed with SynCardia (USA) to support the development of the company's first generation fully implantable total artificial heart, which will be recognized as revenue during CY2026. The company also reported a strong sales start to calendar year 2026, with quarter to date contract signings of $3.7 million, predominantly from new international clients including cardiac (SynCardia) and advanced surgical robotics, which will also be recognized as revenue during CY2026. First half revenues were $4.9 million (pcp: $5.7 million), reflecting the timing of new client project commencement readiness and the completion of current development programs. Hydrix currently has 15 client engagements with the potential to deliver approximately $40 million in future revenues over the next 2-to-3 years. The company ended the period with cash on hand of $0.6 million (pcp: $0.3 million), supported by a $2.2 million Letter of Comfort from the Directors.

The company reported first half revenues of $4.9 million and highlighted 15 client engagements with the potential to deliver approximately $40 million in future revenues over the next 2-to-3 years.

Hydrix has entered calendar year 2026 with strong commercial momentum, reflected in quarter to date sales of $3.7 million, including the first stage contract with SynCardia (USA). The company expects to see increasing revenue visibility and a positive growth outlook for CY2026, supported by these new client sales and expected follow-on contracts from existing clients.