• Commenced deliveries of CONNEQT Pulse units to U.S. customers
• Strong initial market demand for Pulse units through eCommerce and Pharma channels
• Launch of the CONNEQT App in the USA

Cardiex Ltd announced its December 2024 quarterly activities, highlighting several key achievements. The company commenced deliveries of CONNEQT Pulse units to U.S. customers, with strong initial market demand through both eCommerce and Pharma channels. The launch of the CONNEQT App in the App Store and Google Play Store in the USA was also a significant milestone. The Pharma group secured commitments in January for 1,500 CONNEQT Pulse units across international markets and strengthened its Pharma trials pipeline to approximately US$8 million. Cardiex also anticipates expanded registrations and clearances for CONNEQT Pulse in multiple international markets in calendar 2025. The company's operations have been streamlined, driving sustainable growth, operational efficiencies, and providing significant cost-saving opportunities. Cardiex also developed an AI-powered customer care and chatbot, named Zoe, to enhance customer support. The completion of a capital raising supports new device manufacturing, marketing and sales activities, and commercial expansion to support the CONNEQT Pulse launch.

With an average sales price of approximately US$320 and a daily sales volume of around 30 units, Cardiex is looking at an annual run rate of approximately US$3.5 million by the end of Q3 2025.

Cardiex is well-positioned to hit a solid annual run rate by the end of Q3 2025 and is optimistic that its first full quarter of sales will reflect this positive growth trajectory. The company is also making progress on its revenue pipeline for 2025, with a strong Pharma sales momentum and an active pipeline of research projects exceeding USD$600,000.