ImpediMed Limited

Thank you, McGregor. Good morning. Thank you for joining us to discuss the Q4 fiscal year 26 results. I'm pleased to be here with McGregor Grant, our CFO. We'll be referring to the 4C quarterly activity report and presentation we lodged this morning with the ASX. After our remarks, we'll be answering questions. You can lodge questions throughout the presentation using the Investor Hub Q&A function. I'll begin on slide three with an overview of the agenda for today's call. I'm going to start with a business overview, including key highlights, and take you through an update on each of the three business segments. I'll then hand over to McGregor to present the financials. And I'll then finish with some closing remarks and cover our outlook for this quarter before opening up for Q&A. So if we turn to slide five, I know many of you will have only had a chance to briefly read the 4C Activities Report, but you'll notice we made a step change here from previous reports in that I very purposefully added CEO commentary, both within the report and in the concluding notes. I understand the market is keen to get my takes on the business, and you'll see and hear those themes in the report, in this webinar, and in the Q&A and meetings with you that follow. So number one, a strong foundation. We start from a genuine strong foundation, FDA cleared, TGA cleared, CE marked digital health platform. Now paired with a new executive leadership team focused on turning that technology into disciplined commercial execution. We're playing in three segments that are all moving in our direction. Cancer survivorship shift toward longer term patient care, the growing clinical and economic burden of heart failure readmissions, and the GLP-1 driven need to actually measure, not just assume muscle mass and body composition. Lastly, we're leveraging this investment across multiple indications. What makes this a durable platform itself, 642 devices in leading US healthcare systems, 27 IDN partnerships representing over 1400 hospital opportunities and an infrastructure we can leverage across BCRL, heart health and body composition without rebuilding from scratch for each one. And now as we move to slide six and the financials, McGregor will go through the financials in detail later in the presentation, but clearly there were some positives as well as some areas we'd like to do better. The sales metrics are encouraging, but definitely below where we would like to see them. Quarter on quarter revenue increased as did customer receipts. During the quarter, we completed the capital raise, raising 15.3 million, of which 5 million was used to partially repay the loan. Regarding sales, overall unit sales of 40 units was up on the prior quarter with 36 units sold in the US compared with 30 in the prior quarter. Again, this is not something we as a team were or are satisfied with. One thing worth calling out and not including the 17 unit rest of world order we received a few short weeks ago, We're already tracking ahead in BCRL and cancer survivorship unit sales this month compared to where we were at the same time last quarter. It's an encouraging early signal. I want to be clear though, the commercial team needs to show they can execute on the pipeline across all three months of a quarter, not just get off to a decent start. But it's a good sign and I wanted to share it. On the reimbursement side, we're very encouraged by the continued increase in reimbursement with national coverage now at 95%, representing 331 million covered lives up from 94.3% reported in Q3. This level of coverage supports new customer acquisition and re-engagement with existing accounts, giving our clinical and customer success teams a concrete reason to help our customers increase utilization. turning to slide seven to discuss BCRL and cancer survivorship. I've spent a significant amount of time with customers and leading key opinion leaders, which has reinforced for me that cancer survivorship is receiving more attention than ever before. Recently, we recruited several highly respected and passionate KOLs who are now working alongside Impediment, strengthening our clinical and commercial momentum. It's really important to understand the sales cycle remains complex, involving multiple stakeholders. Breast surgeons, among others, champion the clinical case. Oncology operations and finance leaders own strategic priorities and budgets. And nurse navigators play a critical role in driving program adoption and day-to-day utilization. I am highly confident in our Lymphedema Plus strategy, which is resonating strongly with both existing and prospective customers, as well as our internal team. Interest in body composition data, in addition to prospective surveillance for lymphedema, continues to grow as providers increasingly focus on the overall wellness and long-term outcomes of cancer survivors. This demand is being driven by patient needs, with up to 60% of cancer survivors reporting a fear of cancer recurrence. SOZO is uniquely positioned to support survivorship programs by providing objective assessments for lymphedema screening, serving as a clinical anchor within emerging exercise oncology and survivorship programs, and supporting broader patient wellness initiatives. we see a substantial opportunity to accelerate our land and expand strategy. Our platform enables us to establish deeper partnerships with integrated delivery networks, oncology groups, and health systems. We can tailor programs and pricing to our customers' patient flow and operational requirements, creating greater value and stronger long-term relationships. As customers continue building comprehensive survivorship programs, SOZO can become a core component and trusted platform within those pathways. This represents a significant growth opportunity for Impedimed and is a key reason why our new customer success leadership role includes a strong focus on strategic accounts. Importantly, this is a commercial growth playbook I know how to execute and what I believe positions the company well for future expansion. I want to turn to slide eight that helps illustrate the patient cancer journey and why we have so much opportunity for growth. I mentioned a moment ago how many different stakeholders are involved in a complex sale like this, and I want to actually show you what that looks like. This is the kind of map I want our commercial team working from on every strategic account. Real clarity on who the champions are, who influences the decision, who is key for a very successful implementation, and who controls the budget. It's exactly why we built our customer success and strategic accounts function the way we did, because winning here isn't about one relationship. It's about coordinated engagement across clinical, operational, financial, and executive stakeholders all at once. This is what allows us to work within a customer's own framework towards programmatic solutions, positioning Sozo as a critical service line in the cancer patient's journey. And now on to slide nine to discuss the progress we're making in heart health. We continue to build the commercial infrastructure required to scale the heart health segment. We've established a dedicated clinical sales territory structure and completed state by state reimbursement mapping for HFDECs. We have also engaged directly with cardiologists to refine HFDECs positioning within clinical workflows. Sozopro remains the only FDA cleared bioimpedance spectroscopy device for patients with cardiac implantable devices. And the Medicare national coverage determination currently supports access for approximately 75% of Medicare heart failure patients. We believe the indication is important for us to continue as a key catalyst that convert early health system interest into scalable commercial pipeline. The US outpatient heart failure monitoring market represents an estimated US $600 million opportunity. This market need is driven by the urgent focus by hospitals on reducing readmissions and improving fluid monitoring. There are approximately 6.7 million heart failure patients in the US with about 1 million new diagnoses annually. Our focus today is on building the foundation for scalable growth, including infrastructure, reimbursement pathways, and clinical engagement. Feedback from clinicians and major heart failure conferences continues to reinforce strong enthusiasm for the technology. Our long-term vision is for HFDAX to become the objective clinical standard for heart failure management, similar to where Sozo's leadership position is in oncology. Let's turn to slide 10 to discuss body comp and weight management. We're seeing strong momentum in the weight management segment with a growing pipeline of convertible opportunities across primary care, sports medicine, and research aesthetics, and med spa, and dedicated weight loss clinics. The rapid growth of GLP-1 therapies is expanding demand for body composition monitoring as clinicians recognize that weight alone is not an adequate measure of treatment success. Sozo provides the clinical-grade body composition data needed to assess outcomes such as muscle preservation, fat loss, and overall patient health. Providers increasingly want more than a one-time scan. They are looking for data-driven platforms that improve patient engagement, inform treatment decisions, and supports long-term retention and ongoing care. Sozo is meeting this need through precise longitudinal data that helps providers track progress and optimize patient outcomes over time. we are seeing tangible commercial wins across our priority segments, particularly in GLP-1 and medically managed weight loss programs. Our strategy remains focused on disciplined execution rather than hype, ensuring sustainable growth as the market develops. To accelerate adoption, we have introduced greater pricing flexibility, including third-party financing options, reducing upfront capital barriers for this customer base. During the quarter, we established a partnership with a globally recognized physician who has successfully integrated traditional internal medicine with cash pay aesthetics. This partnership further validates the value of Sozo as a tool for delivering personalized evidence-based patient care. While still early in the market opportunity, we're encouraged by the trends we are seeing and remain focused on delivering results as momentum builds over the coming quarters. We can now go to slide 12 and McGregor will go through the financials.

Thanks, Eric. From the cash flow summary, you can see the total operating cash outflow for the quarter came in at $4.9 million, which was in line with our expectations. Factors impacting the quarter's operating cash flow included higher cash receipts, which were a record $4.3 million, and included two large receipts from customers that paid the full contract value upfront. Product-related costs were up $600,000 compared with Q3, and this was mostly driven by inventory purchases. Staff costs are the largest component of the business and were $4.9 million for the quarter, up $400,000 versus Q3. This increase mostly relates to one-off costs associated with the organisational changes that we have made. The actions to reduce the annualised operating cost base by $5 million have been made with the reduction in operating costs effective from 1 July 2026. As we've highlighted on numerous occasions, financial discipline continues to be a core goal of the business. We will maintain an ongoing program of cost control as part of our target to reach cash flow breakeven. The company's cash balance at 30 June was $15.3 million, equating to 3.1 quarters of operating cash flow. During the quarter, the company raised $15.3 million for an institutional placement and an oversubscribed share purchase plan. $5 million of the proceeds from the capital raise were applied towards the partial loan repayment of the company's loan facility, which has been reduced by 3.5 million US dollars to $11.5 million. Moving over to the next slide on TCV and ARR. TCV for the quarter was $5.4 million. In constant currency, quarter four TCV was up 2% versus quarter three. As a reminder, TCV includes the revenue associated with new device sales as well as the revenue associated with renewals. On average, there was a 6.7% price increase for renewed contracts during the quarter. As previously mentioned, we sold 40 SOZO units in the quarter, of which 36 were in the US. Pleasingly, in the first week of July, our Australian distributor placed an order for 17 units, getting this quarter off to a good start. Regarding annual recurring revenue, contracts in place as of 30 June 2026 are expected to generate annual recurring revenue of $14.4 million for the 12 months to 30 June 2027. On a constant currency basis, compared with Q3 FY26, Q4 ARR would have been $4.6 million, representing a 4% increase. And compared with Q4 FY25, ARR would have been $15.8 million, equating to a 13% year-on-year increase. Turning to the next slide. As Eric has already discussed the unit sales, and as you can see, the installed base is now over 1,230 units, with 642 units installed in the United States. Patient testing continues to trend upward, up 6% on the prior quarter, with a three-year compound growth rate of 16%. I'll now pass back to Eric.

Thank you, McGregor. And let's go over to slide 15. Before I review the Q1 outlook, I'd like to offer some additional thoughts. After just over four months in the role and spending that time deeply engaged with our team, customers, partners, and our strategy, my confidence in the business has only increased. Today, I'm even more excited about the company's potential than I was when I first stepped into the role. One of the key themes I've always focused on throughout my career is people, performance, and culture. As I stated in the foresee, these are not buzzwords to me. And since joining the company, I've been relentlessly focused on understanding and strengthening our talent base, building a scoreboard driven performance culture, and ensuring goals are tightly aligned with individual roles and responsibilities. As part of that focus, we've strengthened our leadership team with two key executive appointments, both reporting directly to me, and they are already making an impact. Our head of commercial operations is responsible for building the infrastructure required to support scalable commercial growth and is hyper-focused on forecasting and commercial analytics, territory design and market segmentation, CRM integrity and data quality, sales quota architecture, and scalable operating processes. All of this provides the visibility and discipline needed for stronger decision-making and execution. Our Senior Director, Customer Success and Strategic Accounts leads the customer success and clinical organization. This role is focused on driving customer utilization and outcomes, expanding relationships with strategic IDN customers, and partnering with the sales teams to grow footprint and patient reach. I'm convinced that tight alignment between commercial, clinical, and customer success teams will drive stronger customer outcomes, deeper partnerships, and improved growth opportunities. As part of building a performance-oriented culture, we've recently made changes across several frontline sales roles, as well as select positions in other functions. These changes create opportunities to bring in exceptional talent that is fully aligned with our focus on execution and winning. We've also made solid progress on headcount optimization and cost management while maintaining alignment around our highest priority growth initiatives. Aligning the organization around common goals has clarified where we should invest to generate the strongest returns. While I'm encouraged by our progress, I know there's still significant work ahead. My priorities remain clear. The right talent, disciplined processes and execution, and relentless focus on results. My responsibility is to set the strategic direction and build a championship caliber team capable of delivering on that vision. Executed with urgency, I see the clear pathway to cash flow break even. I also see growing opportunities for strategic partnerships across all three business segments as healthcare continues to consolidate. I remain confident in the path we're on and I'm excited about the opportunities ahead. For the next quarter, we remain focused on building out and growing each of the market segments, maintaining cost discipline and leveraging our talented team. Thank you to our investors for your continued support and to our employees around the world for your commitment to achieving our shared goals. We'll now open the webinar for questions.