• $2.7m revenue recognised, the strongest quarter in the past twelve months
• $3.9m in contract sales won, the strongest result in five quarters
• 15 active clients with an estimated aggregate program value in excess of $40.0m

Hydrix Limited (ASX: HYD) has released its Appendix 4C for the quarter ended 31 March 2026 (3QFY26) and provided a market update. Hydrix Services recorded $2.7m in revenue, the strongest quarter in the past twelve months, up 17% from the December 2025 quarter and 15% from the prior year March 2025 quarter. The company also secured $3.9m in contract sales, the strongest result in five quarters, representing staged development programs with revenue to be recognised over multiple quarters. This included an initial $2.5m contract to collaborate in the development of SynCardia Systems' Next-Gen total artificial heart, the Emperor. Hydrix had 15 active clients where paid work is currently being undertaken, representing an estimated aggregate program value in excess of $40.0m, subject to program continuation, client funding decisions and scope progression. Hydrix Medical is also progressing sales opportunities for its remote cardiac monitoring software. The company reported a $0.4m cash operating loss, a 44% improvement compared to the previous quarter and 47% improvement to the comparative March 2025 quarter, driven by the stronger Hydrix Services revenues and a reduced operating cost structure. Hydrix ended the quarter with $0.2m in cash on hand, with Directors having provided a non-binding Letter of Comfort of up to $2.5m to support near-term liquidity if required.

The Board remains focused on scaling Services revenues within the existing cost base while progressing opportunities to enhance longer-term value across the Group.