HITIQ Boosts Premier League Deal by 60%, Adds CMO, Secures $3M Funding

Premier League Partnership Strengthened

HITIQ Limited (ASX: HIQ), a leader in concussion management technology, announced a significant milestone in its December 2024 quarter with the extension of its partnership with the Premier League. The agreement has been extended by 18 months and includes a 60% increase in the annual contract value, underscoring the growing trust and reliance on HITIQ's CSX Concussion Assessment Technology within elite football.

This renewed deal ensures that HITIQ’s technology will continue to support all 20 Premier League teams and their academies, playing a critical role in the league’s player safety protocols. The CSX platform’s ability to securely record and manage head injury incidents aligns with the Premier League’s commitment to data-driven concussion management and athlete welfare.

Strategic Leadership Appointment to Accelerate Growth

In a move to bolster its global marketing and growth strategy, HITIQ appointed Chris Davis as Chief Marketing Officer during the quarter. Davis brings over a decade of experience in digital marketing and growth, having held senior roles at Optus Sport, GroupM, and as Head of Growth at A-Leagues.

His expertise is expected to enhance HITIQ’s brand visibility, customer engagement, and revenue generation. The company aims to leverage data analytics and targeted content strategies under Davis’s leadership to scale customer acquisition and reduce costs, positioning HITIQ as a global leader in concussion and player performance technology.

Additional Funding to Support Expansion

HITIQ also secured an additional $3 million through the extension of its Convertible Note facility with major shareholder Harmil Angel Investments. This funding will support increased production capacity, sales and marketing efforts, and global commercialisation initiatives, providing the company with the resources to meet rising demand and expand its footprint in the concussion management market.

The facility now totals $4.6 million, with standard terms including a 12.5% annual interest rate and a conversion price at a 10% discount to the prevailing share price. As of December 31, 2024, HITIQ held cash reserves of approximately A$668,000.

Financial Position and Outlook

Despite the positive developments, HITIQ’s cash flow report indicates ongoing operational cash outflows, with net cash used in operating activities amounting to A$2.37 million for the quarter. The company has approximately 0.5 quarters of funding available based on current cash and undrawn facilities, highlighting the importance of its capital management strategies and potential future fundraising.

HITIQ’s management remains confident in its ability to continue operations and meet business objectives, citing ongoing access to financing facilities and active evaluation of capital management options.

Positioning for Global Leadership in Concussion Management

HITIQ’s expanded Premier League partnership, leadership enhancement, and fresh capital injection collectively signal a company poised for accelerated growth. The company’s technology addresses a critical and growing global need for reliable concussion management solutions across elite sports and beyond.

With a strategic focus on expanding into multiple sports markets and leveraging data-driven tools, HITIQ is setting benchmarks in player safety and performance technology. The coming quarters will be pivotal as the company executes on its growth initiatives and capitalises on its strengthened market position.