CogState Ltd
ASX:CGS
CogState Ltd
Cogstate Ltd. is a global cognitive science company. The firm provides computerized cognitive tests across various domains and support electronic clinical outcome assessment (eCOA) solutions. The firm's segment includes Clinical trials, Healthcare and Research. In the Clinical trials segment, the Company's technology and associated services are used to quantify the effect of disease and of drugs, devices or other interventions on human subjects participating in clinical trials primarily conducted by pharmaceutical and biotechnology companies. In the Healthcare segment, the technology and associated services are being developed as a tool for primary care physicians to assess cognitive decline. Research segment offers various research studies and academic collaborations across various indication of diseases.
Cogstate Ltd. is a global cognitive science company. The firm provides computerized cognitive tests across various domains and support electronic clinical outcome assessment (eCOA) solutions. The firm's segment includes Clinical trials, Healthcare and Research. In the Clinical trials segment, the Company's technology and associated services are used to quantify the effect of disease and of drugs, devices or other interventions on human subjects participating in clinical trials primarily conducted by pharmaceutical and biotechnology companies. In the Healthcare segment, the technology and associated services are being developed as a tool for primary care physicians to assess cognitive decline. Research segment offers various research studies and academic collaborations across various indication of diseases.
Record Revenue: Cogstate delivered $45 million in revenue for FY2022, up 38% year-over-year, driven mainly by growth in Alzheimer's clinical trial contracts.
Margin Expansion: EBIT margin improved to 23%–24% of revenue, exceeding previous guidance, reflecting strong operating leverage and cost control.
Contracted Backlog: Revenue backlog reached $139 million at June 30, 2022, up 37% year-over-year, positioning the company for future growth.
Alzheimer's Focus: 84% of FY2022 sales contracts were related to Alzheimer's trials, and upcoming Phase III data readouts from key drugs could be major catalysts.
Strong Cash Position: Net cash increased to $28.7 million, with over $30.5 million in total cash and $9.7 million in operating cash inflow for the year.
Decentralized Trials: Adoption of virtual and home-based clinical trials is accelerating, benefiting Cogstate’s digital assessment technology.
Guidance Maintained: Management expects EBIT margin of 20%–24% to continue, with potential upside if the healthcare segment grows.
