HITIQ Limited reported a $2.9 million loss for the half-year ending December 2025, while making significant strides in international market expansion and strategic partnerships. The company’s capital raising efforts aim to support its transition from technology validation to commercial execution.
- Half-year revenue slightly declined to $997,178
- Loss after tax narrowed to $2.9 million from $3.1 million
- Secured Olympic-level validation with PROTEQT™ mouthguards
- Expanded into North American and UK markets with new partnerships
- Raised approximately A$1.4 million through equity and loan facilities
Financial Performance and Operational Progress
HITIQ Limited (ASX: HIQ), a specialist in concussion management technologies, reported a net loss of $2.9 million for the half-year ended 31 December 2025, a modest improvement from the $3.1 million loss in the previous corresponding period. Revenues dipped slightly to just under $1 million, reflecting ongoing challenges in scaling commercial operations while investing heavily in product development and market expansion.
Despite the financial headwinds, HITIQ has made notable operational advances. The company secured a landmark order for 100 PROTEQT™ instrumented mouthguards for deployment at the Winter Olympics, marking its first Olympic-level validation and a significant endorsement of its technology on the global stage.
Strategic Partnerships and Market Expansion
HITIQ’s commercial strategy is gaining momentum with multiple strategic partnerships across sport, insurance, and research sectors. The company launched its North American market entry through an exclusive Canadian distribution agreement, opening pathways into the lucrative US collision-sport market. Concurrently, it commenced national retail distribution in Australia via Rebel Sport, expanding consumer access to its concussion monitoring products.
Internationally, PROTEQT™ has been integrated into UK consumer markets, including NHS 111 telehealth services, and selected for inclusion in a major Australian Research Council-funded brain injury research program. These collaborations bolster HITIQ’s scientific credibility and support its long-term commercial adoption ambitions.
Capital Management and Going Concern Considerations
To fund its growth initiatives, HITIQ successfully raised approximately A$1.4 million through equity placements and loan facilities during the period. The company also maintains convertible note facilities and secured a new A$1.4 million RDTI loan facility to support ongoing research and development activities.
However, the financial statements highlight a material uncertainty regarding HITIQ’s ability to continue as a going concern, driven by net cash outflows from operations and a net deficiency of current assets relative to liabilities. The directors remain confident in securing additional capital based on the company’s track record and ongoing investor support, particularly from major shareholder Harmil Angel Investments.
Governance and Leadership Changes
The half-year also saw changes in HITIQ’s board composition, with the resignation of directors James Barrie and Philip Carulli, and the appointment of Tony use Toohey. The board continues to prioritise strong governance practices suitable for a listed technology company navigating rapid growth and market entry challenges.
Looking ahead, HITIQ’s focus remains on scaling commercial deployments of PROTEQT™, expanding international market presence, and securing the necessary funding to support its strategic roadmap.
Bottom Line?
HITIQ’s international breakthroughs and funding efforts set the stage for a critical growth phase amid ongoing financial pressures.
Questions in the middle?
- Will HITIQ secure sufficient capital to sustain operations beyond the next 12 months?
- How quickly can PROTEQT™ deployments scale in North America and other international markets?
- What impact will the recent board changes have on strategic execution and investor confidence?