Resonance Health has reported record half-year revenue and strong progress in clinical trials, alongside promising new technology deployments set to enhance its global footprint.
- Unaudited revenue hits $8.0M for 1HFY26 with improving margins
- 48 of 60 patients recruited in $13.8M major pharma clinical trial
- TrialsWest clinics reach profitability and near breakeven ahead of schedule
- SaMD forward orders and tender pipeline exceed $10M
- New ‘Bridge’ technology validated for Q3 FY26 rollout, boosting automation and data security
Strong Financial and Operational Momentum
Resonance Health Limited (ASX – RHT) has delivered a robust quarterly update for the period ending 31 December 2025, underscoring its accelerating growth trajectory across multiple business segments. The company reported unaudited revenue of $8.0 million for the first half of fiscal 2026, with margins tracking above expectations. This performance was supported by $2.9 million in receipts from customers during the quarter and a positive net operating cashflow of $0.1 million, signalling operational efficiency amid ongoing expansion.
Cash reserves stood at $2.7 million, balanced against an equivalent $2.7 million debt facility with National Australia Bank, providing a stable financial foundation as Resonance invests in innovation and market development.
Clinical Trial Services and Site Expansion
The company’s Clinical Trial Management division, Resonance Clinical, marked a significant milestone by finalising the clinical study report for a major pharma trial announced in August 2023, effectively concluding that contract. Meanwhile, the $13.8 million clinical trial launched in November 2024 is progressing well, with 48 of the targeted 60 patients recruited and enrolment expected to complete in the third quarter of FY26. The first cohort of patients is nearing study completion, unlocking key invoicing milestones and revenue recognition.
TrialsWest, the clinical trial site services arm, continues to expand its footprint with two clinics in Osborne Park and Mandurah. The Osborne Park clinic has exceeded expectations, achieving an annualised revenue run-rate above $1 million and monthly profitability. The Mandurah clinic is rapidly approaching breakeven ahead of schedule, reflecting strong demand and operational execution. TrialsWest is actively exploring new locations and therapeutic areas, signalling further growth potential.
Software-as-a-Medical Device (SaMD) Growth and Innovation
Resonance’s SaMD segment has secured multiple new contracts and extensions with global pharmaceutical companies, contributing to a record forward order and tender pipeline exceeding $10 million over multi-year terms. This surge reflects growing market demand for Resonance’s proprietary MRI-based imaging analysis products, which include AI-enhanced devices for liver iron concentration and liver fat assessment.
Complementing this growth, the company has completed testing and validation of its innovative “Bridge” technology, designed to automate and simplify customer interactions by securely managing image and report transfers without human intervention. This technology enhances compliance with international data sovereignty laws by removing personal health information from transmitted data and employing end-to-end encryption. The first customer deployments are slated for Q3 FY26 in the United Kingdom, with broader adoption expected to become mandatory for new clients by the end of the fiscal year.
Advancing Non-Invasive Liver Fibrosis Diagnostics
Resonance Health is nearing completion of enrolment in its extended proof-of-concept trial for a novel non-invasive MRI Liver Fibrosis SaMD device. With 48 patients recruited across multiple countries, data collection and validation are imminent. Success in this trial would pave the way for regulatory submissions and commercialisation, offering a paid investigational endpoint for existing clinical trial customers. Early interest from pharma clients underscores the potential impact of this technology in liver disease management.
Global Business Development and Market Expansion
Following a successful business development mission to India, Resonance has appointed a dedicated Business Development Manager to capitalise on emerging opportunities in this high-growth market. The company is also exploring partnerships with healthcare providers in China, aiming to commercialise its imaging products in one of the world’s largest healthcare markets.
CEO Andrew Harrison highlighted the quarter as a landmark period, citing record revenues, expanding clinical trial sites, and technological advancements as key drivers underpinning future growth. The company’s strategic focus on clinical trial management, SaMD innovation, and site services appears well-positioned to capture increasing demand in global healthcare and pharmaceutical sectors.
Bottom Line?
With strong financials and pioneering technology on the horizon, Resonance Health is poised for a transformative year ahead.
Questions in the middle?
- Will the non-invasive MRI Liver Fibrosis device secure regulatory approvals and commercial uptake?
- How will the Bridge technology reshape customer workflows and data security compliance globally?
- What new therapeutic areas and locations will TrialsWest target next for expansion?