HITIQ’s Cash Crunch Looms Despite Olympic Validation and UK Market Entry
HITIQ Ltd has secured a landmark order for its PROTEQT™ mouthguards at the Winter Olympics and launched in the UK consumer market, while advancing global validation and raising over A$2 million in capital.
- 100 PROTEQT™ mouthguards ordered for Winter Olympics deployment
- International Federation of Sports Medicine begins independent PROTEQT™ assessment
- PROTEQT™ launched in UK consumer market with NHS 111 integration
- Raised approximately A$2.16 million through Rights Issue and placement
- Board changes include appointment of Tony Toohey and retirement of Phil Carulli
Olympic Validation Elevates HITIQ’s Global Profile
HITIQ Limited (ASX, HIQ) marked a significant milestone in its international expansion during the September 2025 quarter by securing an order for 100 PROTEQT™ instrumented mouthguards to be used at the upcoming Winter Olympics. This represents the company’s first deployment on the Olympic stage, providing a high-profile validation of its concussion management technology at the pinnacle of global sport.
The program is led by Professor Yannis Pitsiladis, a prominent figure in sports medicine and a member of the International Olympic Committee’s Medical and Scientific Commission. The two-year initiative follows successful trials that confirmed the mouthguards’ comfort, usability, and advanced analytics capabilities, extending beyond concussion monitoring to include head and neck protection in high-risk winter sports.
Independent Assessment by Global Sports Medicine Authority
In parallel with Olympic deployment, the International Federation of Sports Medicine (FIMS) has commenced an independent assessment of PROTEQT™ technology. FIMS, the world’s largest sports medicine organisation, represents over 125,000 physicians across 117 national associations and is officially recognised by the IOC. A positive evaluation could lead to PROTEQT™ being recommended globally across high-risk and extreme sports, significantly boosting HITIQ’s credibility and market reach.
UK Consumer Market Entry with NHS Integration
HITIQ also successfully launched PROTEQT™ into the UK consumer market, integrating the product with NHS 111 telehealth services. This integration allows athletes to access medical triage following detected head impacts, enhancing the product’s utility and appeal. The UK launch serves as a scalable model for further international expansion, targeting an estimated 2 million collision sport participants in the region.
Strategic Leadership and Capital Strengthening
The company appointed Tony Toohey as a Non-Executive Director while accepting the retirement of Phil Carulli, who will assist with a transition of accounting services. On the financial front, HITIQ raised approximately A$2.16 million through a combination of a Rights Issue and placement, bolstering its capital position. Despite this, cash reserves stood at A$463,000 at quarter-end, with ongoing loan facilities supporting research and development activities.
Looking Ahead, Commercialisation and Market Expansion
With Olympic validation and FIMS assessment underway, HITIQ is focused on converting these endorsements into multi-year commercial contracts and expanding its footprint internationally, including plans for North American market entry. The appointment of former AFL player Nathan Murphy as Brand Ambassador aims to enhance grassroots and junior sports engagement, further driving brand awareness.
Bottom Line?
HITIQ’s Olympic breakthrough and UK launch set the stage for global growth, but capital sustainability remains a key watchpoint.
Questions in the middle?
- When will FIMS complete its assessment and what impact will it have on global adoption?
- How will Olympic deployment translate into commercial contracts and revenue growth?
- What are HITIQ’s plans to extend its cash runway beyond the current funding horizon?