HITIQ Ltd has launched its PROTEQT smart mouthguard for grassroots sports, secured a five-year exclusive global partnership with Shock Doctor, and raised $1.9 million to fund manufacturing and market growth.
- Commercial launch of PROTEQT smart mouthguard targeting community sports
- Exclusive 5-year global partnership with Shock Doctor for production scaling
- New multi-year grassroots partnerships covering 50,000+ Australian athletes
- Capital raise of $1.9 million completed to support expansion and manufacturing
- Additional R&D funding and short-term loan secured to bolster growth
A Pivotal Shift to Grassroots Sports
HITIQ Ltd (ASX – HIQ) has marked a significant milestone with the commercial launch of its flagship PROTEQT smart mouthguard system, transitioning its focus from elite sports to the broader grassroots community. This move opens access to a vast market of amateur athletes, addressing a critical need for concussion management at the community level.
The PROTEQT system integrates advanced sensor technology to detect impacts, assess symptoms, and provide telehealth support, making concussion monitoring more accessible and practical for everyday sports participants.
Strategic Global Partnership with Shock Doctor
Production is already underway, with HITIQ distributing directly in Australia and the UK, priced competitively to encourage adoption across community sports.
Expanding Reach in Australian Community Sports
HITIQ has expanded its grassroots footprint through new multi-year partnerships with AFL Barwon and South Metro Junior Football League, collectively representing over 35,000 players. Alongside existing agreements with VAFA and Westfield Sports High, HITIQ now has direct access to more than 50,000 athletes in Australia’s community sports sector.
This network positions HITIQ to tap into a total addressable market estimated at nearly one million collision sports participants in Australia alone, with international markets in the UK and US offering multi-billion-dollar opportunities.
Financial Foundations for Growth
To support its ambitious expansion, HITIQ successfully raised $1.9 million through a combination of placement and a partially underwritten rights issue. The funds will be allocated to manufacturing capacity expansion, US market entry, product enhancements, and ongoing R&D, including AI capabilities.
Additionally, HITIQ drew down $420,000 from its R&D loan facility and secured a short-term $500,000 loan from Harmil Angel Investments, strengthening its financial position as it scales operations.
Looking Ahead
With the PROTEQT launch and strategic partnerships in place, HITIQ is poised to capture a growing share of the concussion management market. Upcoming initiatives include expanding community sports partnerships into rugby codes, international market development in the UK and US, and product enhancements aimed at generating recurring revenue streams.
While the company’s current cash runway is under two quarters, ongoing capital raising efforts and operational execution will be critical to sustaining momentum.
Bottom Line?
HITIQ’s PROTEQT launch and Shock Doctor partnership set the stage for rapid growth, but capital raising remains key to sustaining expansion.
Questions in the middle?
- How quickly will PROTEQT penetrate international markets beyond Australia?
- What are the expected sales volumes and revenue milestones for 2025 and 2026?
- How will HITIQ manage cash flow given the short runway and reliance on capital raises?