• Clinical Trials revenue up 27% to $22.7m in 1H25
• Gross Profit Margin and EBIT Margin consistent with 2H24
• Cash balance increased to $34.2m at 31-Dec-24

Cogstate Ltd (ASX:CGS) has provided an update on its financial performance for the half-year ended 31 December 2024 (1H25), based on unaudited results. The key highlights include:- Clinical Trials revenue increased by 27% to $22.7m in 1H25, continuing the growth trend from the second half of FY24. Clinical Trials revenue now accounts for 95% of Cogstate's total revenue.- The company's Gross Profit Margin and EBIT Margin are expected to be consistent with the second half of FY24, reflecting continued efficiency gains from technology investments and a reduction in the number of full-time employees despite increasing revenue.- Cogstate's cash balance increased to $34.2m at 31 December 2024, up from $30.1m at 30 June 2024 and $25.3m at 31 December 2023, driven by strong operating cash flow.- The company announced a new share buyback program in October 2024, having repurchased 1.4 million shares for a total cost of A$1.6m (US$1.0m) during 1H25.- Cogstate continues to see growth in its Alzheimer's business and is also expanding its offering outside of Alzheimer's, with increased sales opportunities across a diversified portfolio of indications and trial phases. The company is also scaling its business through channel partnerships, which accounted for 36% of total sales opportunities in 1H25.Cogstate will release its audited 1H25 financial results on Thursday, 20 February 2025.

Cogstate continues to see growth opportunities in its Clinical Trials business, driven by the expansion of its offering, improved funding environment for US biotech, and increased sales opportunities through channel partnerships. The company believes the Alzheimer's market represents a generational opportunity and is also focused on diversifying its business outside of Alzheimer's.