HITIQ Posts 223% Sales Surge with PROTEQT™ National Launch and First UK Club Sale
HITIQ Limited's March quarter saw a remarkable 223% jump in sales to $294k, driven by the nationwide rollout of its PROTEQT™ concussion management system and initial international sales. The company bolstered its governance and advisory ranks while managing funding to support its commercial push.
- Sales soared 223% to $294k in March quarter
- PROTEQT™ launched nationally via Rebel, Chemist Warehouse, Amazon, and NARTA channels
- First international sale to Scotland's Kinross Rugby Club achieved
- New advisory board appointments strengthen neuroscience and elite sport expertise
- Funding facilities and convertible notes underpin commercial scaling
Sales Momentum Accelerates on National Retail Launch
HITIQ Limited (ASX:HIQ) dramatically lifted its sales in the March 2026 quarter, reporting revenue of $294,000; a 223% increase from $91,000 in the previous December quarter. This surge coincides with the national launch of its PROTEQT™ concussion management system across key retail outlets including Rebel, Chemist Warehouse Marketplace, Amazon Marketplace Australia, and NARTA-affiliated electronics retailers. The multi-channel rollout is supported by a sprawling marketing campaign that delivered over 1,000 advertisements across Melbourne, Sydney, and Brisbane, timed to hit peak pre-season demand.
International Expansion and Strategic Partnerships Take Shape
Beyond Australia, HITIQ achieved its first international sale, supplying PROTEQT™ units to Kinross Rugby Club in Scotland. This initial foothold in the UK market offers a tangible reference point for broader global ambitions. Domestically, the company secured sales to academic institutions including Adelaide University and Griffith University, extending PROTEQT™’s reach into research and elite sporting programs.
These commercial advances come on the back of HITIQ's strengthened strategic positioning, with the appointment of a high-profile Advisory Board featuring Dr Martin Lang, Kalindi Commerford, and Richard Nash. Their combined expertise spans neuroscience, elite sport, and MedTech commercialisation, underscoring HITIQ’s commitment to product validation and market expansion.
Capital Management Supports Growth Amid Cashflow Challenges
While sales growth is encouraging, HITIQ continues to navigate the financial realities of scaling. The company reported a net operating cash outflow of $908,000 for the quarter, balancing marketing investments, inventory build, and operational costs. Cash on hand stood at $146,000 at quarter-end, with total financing facilities fully drawn to $5.04 million.
Funding initiatives include convertible note facilities and loans from No Bull Pty Ltd, associated with major shareholder Hamil Angel Investments. Following a recent $1 million loan drawdown, HITIQ is exploring further capital management options, including additional equity and loan facilities, to sustain its commercial execution phase. This aligns with the company’s earlier move to secure a $1 million loan backed by convertible notes, a strategy designed to bolster working capital amid ongoing capital market challenges.
Corporate governance also saw enhancements, with changes to the Board and Company Secretary aimed at strengthening compliance and supporting the next growth phase.
Positioned for Growth in Athlete Safety Technology
HITIQ’s PROTEQT™ system, combining smart mouthguards with advanced analytics, targets a growing concussion management market spanning sport, research, defence, and healthcare sectors. The company’s recent exclusive three-year partnership with Hockey Australia, which opens a $20–25 million revenue opportunity, complements its retail and international expansion efforts and reflects its broader strategy to scale across community and elite sporting markets.
As HITIQ transitions from technology validation to full commercial deployment, the effectiveness of its marketing spend and international growth trajectory will be critical to watch. The company’s ability to convert early sales momentum into sustained revenue growth and improved unit economics remains an open question.
Bottom Line?
HITIQ’s national rollout and initial international sales mark a commercial inflection point, but sustaining growth hinges on effective capital management and market adoption.
Questions in the middle?
- Can HITIQ convert its marketing investment into sustained revenue beyond the initial surge?
- How will the company navigate funding needs given its limited cash runway and ongoing cash burn?
- What is the timeline and scale for expanding international sales beyond the UK pilot?
