Artrya Limited (ASX:AYA): FY26 Results, US Hospital Agreement and Salix Rollout

Aditi Sarkar

23 October 2026 04:27 PM AEDT

Artrya Limited (ASX:AYA): FY26 Results, US Hospital Agreement and Salix Rollout

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Highlights

Artrya (ASX:AYA) secured a five-year agreement with Huntsville Hospital Health System in October 2026.
The agreement carries a US$0.5 million minimum contracted value, with potential usage-based fees.
FY26 net loss was AUD 25.183 million and cash and investments totalled AUD 74.0 million at 30 June 2026.
The company is targeting further US deployments and Salix Coronary Flow regulatory clearance.

Artrya Limited develops artificial intelligence software for analysing coronary computed tomography angiography (CCTA) scans, principally through its Salix platform for hospital and cardiology workflows. At the time of writing on 23 October 2026, Artrya (ASX:AYA) was quoted at AUD 2.475, down 6.60% for the trading session. Recent company disclosures cover a new US hospital-system contract, the FY26 financial position and the expansion of its commercial imaging technology.

Company Business

Artrya (ASX:AYA) develops cloud-based tools that support clinicians assessing coronary artery disease from CCTA images. Its Salix offering includes Coronary Anatomy, which describes coronary structures, and Coronary Plaque, which assists with assessing plaque characteristics. Coronary Flow is a further product under development, subject to regulatory clearance before US commercial use.

The company is headquartered in Western Australia and has concentrated commercial activity on US hospitals and health systems. Its products are designed to fit existing clinical imaging and reporting processes, while the commercial model combines software arrangements and, where applicable, fees linked to scan usage. Deployment requires integration with hospital information systems and clinical workflows.

Recent Development

In October 2026, Artrya (ASX:AYA) announced a five-year commercial agreement with Huntsville Hospital Health System in Alabama. Huntsville became the first participant in the company’s SAPPHIRE clinical study to enter a commercial agreement. The contract provides a minimum value of US$0.5 million for Salix Coronary Anatomy, with additional potential revenue from plaque analysis and flow products, subject to applicable product availability and clearance.

The planned rollout covers applicable clinical workflows in Huntsville’s 15-hospital network. The contract increased the number of US commercial health-system customers disclosed by Artrya to four. The minimum contracted amount is not equivalent to cash already received, and revenue beyond that minimum depends on scan activity and contractual terms.

In its September 2026 FY26 update, the company reported that Tanner Health was already using its technology, Northeast Georgia Health System had begun clinical use and Cone Health was progressing toward deployment. It also described SAPPHIRE as a route for clinical evaluation and potential subsequent commercial agreements. These are separate stages and do not mean each study participant is a paying customer.

Financial Performance and Sector Context

For the financial year ended 30 June 2026, Artrya (ASX:AYA) reported a net loss after tax of AUD 25.183 million, compared with AUD 16.406 million for FY25. Its FY26 operating loss was AUD 27.600 million on statutory expenses of AUD 33.275 million. The figures reflect a business investing in technology development, regulatory work and US commercial infrastructure before generating revenue at scale.

The FY26 results recorded statutory revenue of AUD 28,000 after an accounting adjustment to revenue initially recognised. At 30 June 2026, cash and investments totalled AUD 74.0 million, including AUD 44.0 million in cash and cash equivalents, while the company reported no debt. During FY26 it also secured AUD 80.0 million of funding, supporting its US commercialisation activities.

A key distinction for financial reporting is between executed multi-year contracts and sales recognised during a particular period. Scan volumes, payer reimbursement and deployment timing can affect the conversion of commercial commitments into reported income. The company’s US focus also exposes operations to healthcare procurement, medical-software regulation and integration requirements.

Risks to Consider

Artrya (ASX:AYA) remains exposed to ongoing operating losses, implementation costs and uncertainty over how quickly contracted hospitals use its products. Approval of Salix Coronary Flow is not assured on the targeted timetable. Clinical evidence requirements, payer reimbursement processes, hospital IT integration, cybersecurity obligations and customer adoption may influence revenue conversion. Additional funding could be required if expenditure exceeds future operating receipts.

What to Watch Next

For Artrya (ASX:AYA), upcoming developments include the September 2026 quarterly cash-flow and activities report, hospital deployment progress, scan volumes and receipt of commercial payments. Other monitoring points are the SAPPHIRE study’s clinical progress, any conversion of participating health systems to contracts and the US regulatory outcome for Salix Coronary Flow, which the company targeted for the end of calendar 2026.

The timing and financial contribution of hospital integrations matter alongside the number of agreements signed. Subsequent company reports may clarify how recurring fees and scan-linked income develop as live sites expand.

Key Insights

Artrya’s FY26 disclosures show a larger net loss alongside AUD 74.0 million of cash and investments at year-end. The Huntsville agreement added a fourth US commercial customer and a minimum five-year contractual amount, but does not establish the pace of revenue recognition. For Artrya (ASX:AYA), the measurable next steps are deployment, scan activity, cash expenditure and regulatory progress.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.