Highlights

  • FY26 operating revenue reached $7.1 million, representing 21% growth YoY.
  • The company reported 344,075 scans during FY26, an increase of 77% YoY.
  • Its software reached 540 sites globally by 30 June 2026.
  • Cash at 30 June 2026 was $278 million.

4DMedical Limited (ASX:4DX) develops respiratory imaging technology that helps clinicians assess lung function through medical imaging data. The company’s FY26 results placed commercial software deployment and scan usage alongside its financial disclosures, reflecting the role of hospital and radiology adoption in its operating model. The company markets CT:VQ alongside an existing portfolio of imaging products.

Imaging Adoption Across Clinical Settings

The group reported that its software-as-a-service products were being delivered at 540 sites worldwide at 30 June 2026, a 39% increase compared with the preceding financial year-end. This is a measure of installation or service reach, rather than a direct count of paying patients. Site coverage and scan volumes are different operating indicators: a location may produce multiple scans while the reported site total indicates where software is available.

During FY26, 344,075 scans were produced, up 77% YoY. The June quarter accounted for 105,970 scans, which the company identified as a quarterly record. Management said the established product portfolio was the principal contributor to these scan volumes. CT:VQ also featured prominently in its commercial development discussion as its rollout progressed from regulatory work into the market.

Financial Results and Reported Measures

For the year ended 30 June 2026, (ASX:4DX) recorded operating revenue of $7.1 million, up 21% YoY, and reported gross margins exceeding 90%. The results also distinguished reported net losses from an adjusted net-loss measure. The adjusted net loss was $32.9 million, an improvement of 7% YoY, according to the company’s FY26 results.

The statutory loss reflected material non-cash accounting effects, including the fair-value measurement of a financial debt instrument. These items are important when comparing the reported statutory figure with operational performance. They do not represent additional scans or customer receipts. For this reason, revenue, adjusted losses and statutory results describe separate aspects of the year’s financial performance.

Cash of $278 million at 30 June 2026 was a significant balance-sheet item in (ASX:4DX)’s full-year disclosures. The amount is a dated cash holding, not a measure of recurring income. Management linked its financing resources to the further commercial execution of its respiratory imaging strategy, while the future pace of deployment remains dependent on customer implementation and product uptake.

Commercialisation and Reporting Considerations

The business model combines medical imaging software, clinical workflows and recurring software delivery. As installations expand, scan volumes provide another way of assessing activity. However, use of imaging tools does not by itself establish a proportional increase in revenue because commercial arrangements and timing can differ between customers.

For (ASX:4DX), CT:VQ adoption is relevant to the company’s next stage of commercialisation. The FY26 materials describe progress in software reach and imaging activity; they do not establish that every new site will contribute revenue immediately or at an identical rate. Financial reporting and operational reporting therefore need to be read together rather than treated as interchangeable measures.

The year also illustrates the distinction between accounting results and product utilisation. The (ASX:4DX) results contain revenue growth, a reported adjusted loss and a much larger statutory loss affected by non-cash items. Each number addresses a different question about the business and its financing position. Future official updates can clarify how installations translate into sustained usage and recognised income.

Key Insights

The FY26 disclosures connect 4DMedical’s expanding respiratory imaging footprint with measurable scan activity and reported operating revenue. For (ASX:4DX), customer adoption, software utilisation, reported losses and available cash remain distinct indicators of how the business is developing.