4DMedical (ASX: $4DX) Half-Year Financial Report FY24

4DMedical Limited (ASX: $4DX) has released its Half-Year Financial Report for the six months ended 31 December 2023. The report highlights the acquisition of Imbio Inc., a leader in lung and heart artificial intelligence-driven technology, and a 63% increase in revenue from ordinary activities to $0.8 million. The Group's net loss from ordinary activities after tax was ($15.6 million), down 4% compared to the corresponding comparative half-year. The report also outlines the Group's cash balance of $47.9 million at 31 December 2023.

Executive Commentary on 4DMedical's Half-Year Financial Report FY24

The acquisition of Imbio Inc. aligns with 4DMedical's strategy to provide comprehensive lung diagnostics and opens opportunities for diagnostic screening programs. The Company's revenue growth reflects the successful commercialization of its products and the expansion of its technology in the U.S. market. We are pleased with the progress made in advancing solutions for evaluating respiratory diseases and securing reimbursement benefits, which are expected to accelerate the utilization of our technology. The acquisition of Imbio and the strategic collaboration with Koninklijke Philips N.V. demonstrate our commitment to revolutionizing lung disease diagnosis and providing comprehensive cardiothoracic analysis.

Summary of 4DMedical's Half-Year Financial Report FY24

4DMedical (ASX: $4DX) has reported a 63% increase in revenue from ordinary activities to $0.8 million for the half-year ended 31 December 2023. The acquisition of Imbio Inc., along with the successful capital raise of $35 million, has expanded the Company's product offering and is expected to accelerate the commercialization of its XV Technology in the U.S. market. Additionally, strategic collaborations with Koninklijke Philips N.V. and Centers for Medicare & Medicaid Services (CMS) have positioned 4DMedical to address unexplained dyspnoea, improve lung cancer screening, and transform cardiothoracic perfusion assessment. The Company's financial position remains strong with a cash balance of $47.9 million, providing a solid foundation for future growth and innovation.