PainChek Limited (ASX:PCK) Releases Half Year Results
Financial Performance
PainChek Limited reported a 27% increase in revenue from continuing operations, reaching $1,658,000 for the half-year ended 31 December 2024. Other income from R&D grants rose by 14% to $1,374,000, leading to total revenue and other income of $3,032,000, a 21% increase over the previous year. The net loss attributable to members decreased by 4% to $3,164,000.
Operational Achievements
The company established a solid base in Australia and expanded its presence in the United Kingdom, where UK operations accounted for 33% of customer-recognized revenue. PainChek continues to advance its three core strategic pillars, including entering the US market with its FDA De Novo regulatory clearance submission expected to facilitate expansion in the largest healthcare market by early 2025.
Future Outlook
PainChek has contracted approximately 100,000 licenses across nearly 1,800 aged care facilities, anticipating an annual recurring revenue of $4.8 million once fully implemented. Additionally, the company is set to launch its Infant App on the iOS App Store in Q1 2025, targeting the global consumer market with up to 400 million pre-verbal children worldwide.
Financing and Shareholder Updates
On 19 December 2024, PainChek completed an underwritten Entitlement Offer to raise $5.116 million, receiving $4.262 million to date, with the remaining funds expected by March 2025. At a shareholders’ general meeting on 26 February 2025, approval was granted for issuing 204,657,644 Underwriter Options exercisable at $0.05, expiring in 12 months.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.