Micro-X Secures $5.1M R&D Tax Rebate, Eyes $5.4M Total for FY25

Micro-X’s R&D Tax Incentive Boost

Micro-X Ltd, an Australian leader in cold cathode X-ray technology, has announced receipt of a $5.08 million Research & Development (R&D) tax incentive rebate for the financial year ending June 2025. This cash rebate from the Australian Tax Office reflects the company's significant investment in eligible Australian R&D activities over the past year.

The rebate not only provides a direct cash inflow but also allows Micro-X to repay a previously accessed $3.99 million advanced funding facility, strengthening its financial position. Furthermore, the company is in the process of lodging an amendment to increase the FY25 R&D rebate by an additional $0.31 million, pending approval of its Overseas Finding. This would bring the total R&D rebate for the year to $5.39 million, consistent with prior guidance.

Innovation Driving Growth

Micro-X’s proprietary cold cathode, carbon nanotube emitter technology underpins a range of innovative products for health and security markets worldwide. The technology enables X-ray devices that are lighter, smaller, and more energy-efficient, opening new possibilities in mobile diagnostic imaging and security screening.

The company’s product portfolio includes mobile digital radiology units used in healthcare, military, and veterinary sectors. Notably, Micro-X is advancing several high-profile projects, including a next-generation airport security checkpoint for the US Department of Homeland Security and a miniature brain CT imager for pre-hospital stroke diagnosis funded by the Australian Government’s Medical Research Future Fund. Additionally, a contract from US agency ARPA-H to develop a full-body CT scanner highlights the company’s expanding footprint in cutting-edge medical imaging.

Strategic Implications

The receipt of this substantial R&D tax incentive rebate underscores Micro-X’s commitment to innovation and its ability to leverage government support to accelerate product development. The financial boost enhances the company’s capacity to invest in ongoing projects and scale its operations, particularly in the US market where its Seattle-based team is growing rapidly.

While the additional $0.31 million rebate is subject to approval, the alignment with previous guidance provides confidence in Micro-X’s financial planning. The company’s continued success in securing government contracts also signals strong validation of its technology and market potential.