Cardiex Reports 10% Revenue Rise, Cuts Costs to $10-12M Annually
Cardiex Limited reported a 10% revenue increase in FY25, driven by new product launches and significant cost reductions, positioning the company for growth in FY26 with strong backing from C2 Ventures.
- 10% revenue growth excluding prior Clinichain revenue
- Launch of Pulse product contributing to new revenue streams
- Operational cost base reduced to $10-12 million annually
- Cash position strengthened with upcoming placement and R&D rebate
- C2 Ventures confirms full participation and plans further capital support
Revenue Growth and New Product Momentum
Cardiex Limited (ASX, CDX) has delivered a solid financial performance for FY25, reporting a 10% increase in revenue when excluding the $7.7 million Clinichain revenue recorded in the prior year. This growth was underpinned by the launch of its Pulse product in the second half of FY25, marking an important milestone in the company’s expansion of its medical device portfolio focused on vascular health.
The company’s revenue from sales rose to $6.3 million in FY25, up from $5.4 million in FY24, reflecting early market acceptance of new offerings such as Pulse and Xcel. These products leverage Cardiex’s proprietary SphygmoCor® vascular biomarker technology, which remains central to its mission of improving longevity through advanced medical technology.
Streamlining Operations to Enhance Sustainability
Alongside revenue growth, Cardiex implemented significant operational and streamlining initiatives during the second half of FY25. These measures have successfully reduced the company’s expense base to an annualised $10 to $12 million, excluding costs of goods sold and marketing expenses. This represents a substantial cut compared to previous periods, positioning Cardiex with a leaner and more sustainable cost structure as it prepares for future growth.
Such cost discipline is critical in the competitive medical devices sector, where balancing innovation investment with financial prudence can determine long-term viability. Cardiex’s efforts suggest a strategic pivot towards operational efficiency without compromising its product development pipeline.
Strengthened Cash Position and Capital Support
At the end of FY25, Cardiex held $2.4 million in cash, with additional inflows expected from a June placement and the FY25 Research & Development (R&D) Incentive cash rebate. The placement, subject to shareholder approval at the upcoming Extraordinary General Meeting (EGM) on 17 September 2025, is supported fully by C2 Ventures (C2V), a key investor who has also indicated intentions to provide further capital backing.
This endorsement from C2V not only bolsters Cardiex’s liquidity but also signals confidence in the company’s strategic direction and growth prospects. The net asset base increased by 37% to $5.6 million, reflecting improved financial health and a stronger balance sheet heading into FY26.
Looking Ahead, Growth Strategy and Market Position
With new revenue streams from Pulse and Xcel, a streamlined cost structure, and committed capital support, Cardiex is well-positioned to execute its growth strategy in FY26. The company’s focus on vascular health technologies aligns with broader healthcare trends emphasizing chronic disease management and preventative care.
Investors will be watching closely how Cardiex leverages its technological edge and financial improvements to scale its market presence and deliver shareholder value in the coming year.
Bottom Line?
Cardiex’s FY25 results set the stage for a pivotal year ahead, with growth ambitions backed by stronger finances and investor confidence.
Questions in the middle?
- Will shareholder approval for the June placement be secured at the upcoming EGM?
- How quickly can new products like Pulse and Xcel scale revenue in FY26?
- Can Cardiex sustain its reduced cost base while investing in innovation?