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4DMedical Limited (ASX:4DX)

ALERT: Price-sensitive ASX Announcement for 4DX
Current share price for 4DX : $2.325 -1.285 (-35.60%)+
Announcement
Release
28 Oct 2026 9:31AM
Price at Release
$3.610
Full Release
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Summary
4DMedical Limited’s Quarterly Activity Report and Appendix 4C for Q1 FY27 (the quarter ended 30 September 2026) reports strong commercial and operational progress across the U.S., Europe and Australia, led by a five-year U.S. Veterans Affairs healthcare network agreement for LDAi™ COPD detection expected to generate about US$800,000, bipartisan U.S. legislation proposing a US$20 million VA pilot for 4D functional lung imaging, SimonMed’s completed network-wide rollout of CT:VQ® and LDAf™ across 125 CT-enabled sites plus a new three-year IQ-UIP™ contract, and Stanford Medicine’s 12-month software renewal; the company also highlighted European momentum through a German lung cancer screening deployment via contextflow and Curagita covering about 25,000 procedures across 25 sites over three years and an MAID-C grant in Vienna, while Australian CT:VQ® adoption expanded through Jones Radiology, Qscan and Integral Diagnostics providers; CLEAR, the company’s clinical evidence program to support CT:VQ® adoption in acute pulmonary embolism, continued on plan toward a CY2027 readout; financially, unaudited operating revenue was $2.3 million, up 66% on the prior corresponding period, gross margins remained above 90%, total scan volumes reached a record 119,672, the global install base grew to 724 sites, and cash at quarter end was $242.763 million after net operating cash outflows of $15.174 million and net investing outflows of $22.530 million, mainly reflecting the contextflow acquisition and RevealDx investment, with related party payments of $431,000 and estimated funding for about 16 quarters.
Key Points
  • Quarterly Activity Report and Appendix 4C covered Q1 FY27, being the quarter ended 30 September 2026.
  • 4DMedical announced a major U.S. Veterans Affairs healthcare network agreement for LDAi™ COPD detection structured as an initial one-year term plus annual extensions over five years.
  • The VA network contract is expected to generate approximately US$800,000 over its five-year term.
  • A bipartisan U.S. bill, the AIRCARE for Vets Act (H.R.9666), was introduced to establish a US$20 million pilot program using 4D functional lung imaging for veterans.
  • SimonMed completed network-wide rollout of CT:VQ® and LDAf™ across all 125 CT-enabled sites in its U.S. imaging network.
  • SimonMed also signed an additional three-year subscription agreement for IQ-UIP™ for pulmonary fibrosis analysis.
  • Stanford Medicine renewed its 4DMedical software agreement for a further 12 months through July 2027, including a minimum allocation of CT:VQ® scans.
  • The CLEAR study continued progressing to plan with strong recruitment and site activation, supporting a CY2027 readout.
  • CLEAR is intended to support broader clinical adoption of CT:VQ® in acute pulmonary embolism and expand into the larger CTPA-centric market.
  • In Europe, contextflow was selected in a Curagita-led German lung cancer screening deployment covering about 25,000 procedures across 25 sites over three years, including Heidelberg University.
  • The European deployment supports lung nodule detection and quantification, longitudinal case tracking, emphysema pattern recognition and incidental coronary artery calcium assessment.
  • An MAID-C grant from the Vienna Business Agency was secured to develop a scalable framework integrating fragmented clinical data and enabling AI diagnostics in hospital workflows.
  • Australian CT:VQ® customer growth included new agreements with Jones Radiology, Qscan and providers within the Integral Diagnostics network.
  • 4DMedical announced a multi-year partnership with Lung Foundation Australia focused on improving lung health outcomes and access to care.
  • Professor Christine Jenkins AM was appointed as a Non-Executive Director.
  • Julian Sutton was appointed Executive Chair effective immediately following the AGM, while Andreas Fouras remains Managing Director and CEO.
  • Chris Cox was appointed Chief Financial Officer and Beth Plunkett was appointed General Counsel.
  • Unaudited operating revenue for Q1 FY27 was $2.3 million, up 66% on the prior corresponding period.
  • Gross margins remained above 90% during the quarter.
  • Cash balance at 30 September 2026 was $242.763 million.
  • Cash decreased by $35.2 million during the quarter.
  • Net cash used in operating activities was $15.174 million.
  • Net cash used in investing activities was $22.530 million, primarily due to the contextflow acquisition and a strategic investment in RevealDx.
  • Receipts from customers were $1.612 million and interest received was $2.901 million.
  • Proceeds from exercise of options were $3.203 million.
  • Total scan analysis volumes reached a record 119,672 for the quarter, up 61% on the prior corresponding period.
  • The global install base expanded to 724 sites, up 77% year on year and 34% from June 2026.
  • Payments to related parties totalled $431,000 and related to salaries and fees paid to executive and non-executive directors.
  • The company disclosed a $10 million secured strategic investment debt facility from Pro Medicus maturing in July 2027 with a 12.5% interest rate.
  • Estimated quarters of funding available based on quarter-end cash and operating cash use was 16.0 quarters.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.