Key Highlights

  • Micro-X Limited (ASX:MX1) reported FY26 Revenue of $15.087 million, up 16% on the prior year.
  • The loss from ordinary activities after tax attributable to owners narrowed 29% to $9.876 million, compared with $13.895 million in FY25.
  • Net tangible Assets per ordinary security stood at 0.68 cents at 30 June 2026, down from 1.14 cents in the prior period.
  • The financial statements carried an unqualified audit opinion that included an emphasis of matter regarding going concern.

Micro-X Limited (ASX:MX1) share price jumped nearly 24% on Tuesday and amid share price gain, Appendix 4E preliminary final report for the year ended 30 June 2026 comes in focus, which reported revenue from ordinary activities of $15.087 million, an increase of 16% on the prior corresponding period. The loss from ordinary activities after tax attributable to the owners of Micro-X Limited was $9.876 million, a reduction of 29% compared with the $13.895 million loss recorded in FY25.

The company confirmed no dividends were paid, recommended or declared during the current or previous financial period. Net tangible assets per ordinary security were 0.68 cents at 30 June 2026, down from 1.14 cents in the prior corresponding period, with the company noting that its Right-of-Use asset is treated as an intangible asset for the purposes of this calculation.

Audit Outcome

The financial statements for the year have been audited, with an unqualified opinion issued that included an emphasis of matter regarding going concern. The company reported no matters relating to control being gained or lost over entities during the period, and confirmed that all foreign entities within the group apply IFRS Accounting Standards for reporting purposes.

Company Overview

Micro-X describes itself as an Australian medical imaging technology company focused on improving the Equity and accessibility of advanced medical imaging through its Nano Electronic X-Ray (NEX) Technology. This platform is built on carbon nanotube field emitters, high-voltage electronics and imaging software, and is designed to enable imaging systems that are lighter, more portable and more versatile than conventional equipment, for use across healthcare and security applications.

The company's stated purpose centres on enabling lighter and more portable imaging systems that can be deployed in settings where conventional, heavier X-ray equipment is impractical, spanning both healthcare environments and security applications. This positions the company's product development within a niche segment of the broader medical device and imaging technology sector, where portability and equity of access to diagnostic imaging represent the core value proposition communicated to the market.

The Appendix 4E report was signed by Non-Executive Chair Patrick O'Brien on 28 August 2026, with the company's full Annual Financial Report for the year ended 30 June 2026 attached as part of the filing. The report confirmed there were no matters relating to associates or joint venture entities, no Dividend reinvestment plans in operation, and that details of the origin of accounting standards used in compiling the report indicate all foreign entities within the group apply IFRS Accounting Standards for reporting purposes.

Balance Sheet and Reporting Context

Alongside the movement in net tangible assets per ordinary security, which declined to 0.68 cents at 30 June 2026 from 1.14 cents in the prior corresponding period, the company noted that its Right-of-Use asset is treated as an intangible asset when calculating this metric, a treatment that affects the comparability of the figure with companies that classify Right-of-Use assets differently. The Appendix 4E confirmed there was no control gained or lost over entities during the reporting period, and no loss of control over entities either.

The reduction in net tangible assets per security over the year reflects the combined effect of the reported loss for the period against the company's Issued Capital base, though the Appendix 4E filing itself does not provide a line-by-line reconciliation of the movement beyond the headline loss and revenue figures. The company directed readers to its full Director's Report within the 2026 Annual Report for additional information on the results during the financial year, indicating that further operational and segment-level detail sits outside the Appendix 4E summary document.

Conclusion

Micro-X closed out FY26 with double-digit revenue growth alongside a meaningfully reduced annual loss compared with the prior year, developments that accompanied continued investment in its carbon nanotube-based imaging technology platform. The audited results, which carried a Going Concern emphasis of matter, provide the financial backdrop against which the company's ongoing work in medical and security imaging applications will continue to be assessed in the year ahead, with further operational detail available in the company's full Annual Report.