Resonance Health Posts $3.1M Quarterly Receipts, $8.5M SaMD Orders Pipeline
Resonance Health reports positive cash flow and significant progress in its clinical trials and Software-as-a-Medical Device business, setting the stage for growth in new international markets.
- Positive quarterly cash flow with $3.1M receipts and $0.1M net operating cash flow
- 29 patients dosed in $13.8M major pharma clinical trial, on track for milestones
- Expansion to three TrialsWest clinical trial sites supporting revenue growth
- Record $5.2M in multi-year SaMD contracts, with total orders potentially exceeding $8.5M
- Strategic expansion into India and China markets with new AI-driven SaMD offerings
Strong Financial and Operational Momentum
Resonance Health Limited (ASX, RHT) has delivered a solid quarterly performance, reporting $3.1 million in customer receipts and a positive net operating cash flow of $0.1 million for the quarter ended September 30, 2025. Over the last twelve months, the company has generated $13.75 million in receipts with $1.43 million net cash flow from operations, underscoring its steady financial footing amid ongoing investments in clinical and technological growth.
Clinical Trial Progress and Expansion
The company’s flagship $13.8 million clinical trial services agreement with a major pharmaceutical partner continues to advance as planned, with 29 patients dosed post-quarter-end out of a targeted 60. This milestone reflects Resonance Health’s capability in managing complex clinical trials and sets the stage for further revenue recognition in upcoming periods. Meanwhile, the TrialsWest network has expanded to three operational sites across Western Australia, including the recent launch of the Mandurah location, which has begun participant recruitment. This expansion is expected to bolster clinical trial capacity and revenue growth through FY26.
Record Software-as-a-Medical Device Contracts
Resonance Health’s Software-as-a-Medical Device (SaMD) segment has achieved a record level of contracted business, securing approximately $5.2 million in multi-year service agreements with pharmaceutical customers. When including tendered work, total potential orders exceed $8.5 million, marking a significant milestone for the business. The company continues to diversify its SaMD offerings, incorporating advanced imaging analyses such as Magnetic Resonance Elastography and novel 3-Tesla MRI spleen iron assessments, which are gaining traction in international clinical trials.
International Growth and Technology Integration
Looking ahead, Resonance Health is actively pursuing growth opportunities in Asia, with planned meetings in China to commercialize AI-enhanced SaMD products like FerriSmart®, HepaFatSmart®, and LiverSmart® within the burgeoning health-check market. Additionally, the company is rolling out new ‘bridge’ technology to improve integration and data security for customers, starting with a UK client. This innovation promises to streamline workflows and enhance user experience across diagnostic and clinical trial services.
Outlook and Market Position
CEO Andrew Harrison expressed optimism about the company’s trajectory, highlighting strong sales pipelines, new product developments, and geographic expansion as key drivers. With $3 million cash on hand and manageable debt, Resonance Health appears well-positioned to capitalize on its momentum. The company’s blend of clinical trial management expertise and cutting-edge medical imaging technology continues to differentiate it in a competitive healthcare technology landscape.
Bottom Line?
Resonance Health’s robust contract wins and international expansion signal a promising growth phase, but execution risks in clinical trials and new markets remain to be watched closely.
Questions in the middle?
- How quickly will the remaining patients be recruited and dosed in the $13.8M clinical trial?
- What impact will the new ‘bridge’ technology have on customer retention and operational efficiency?
- How significant will the revenue contribution from China and India markets be in the next 12 months?
