Key Highlights

  • TrivarX Limited (ASX:TRI) shares fell 12.50% to $0.011 during the 22 September trading session.
  • The company's Appendix 4E preliminary final report showed revenues from ordinary activities of $14,566 for the year ended 30 June 2026, down from $1,128,979 in the prior year.
  • Net loss for the year attributable to members widened to $8,762,643, compared with $943,231 in FY25, an increase of 829.00%.
  • The preliminary final report includes a note on going concern, with the company's auditor likely to include an Emphasis of Matter paragraph in its report.

TrivarX Limited (ASX:TRI) shares were down 12.50% to $0.011 during the Trading session on 22 September. TrivarX is a for-profit company incorporated in Australia and listed on the Australian Securities Exchange, with a focus on development-stage technologies including brain imaging and other application platforms.

FY26 Preliminary Financial Results

According to the Appendix 4E lodged for the reporting period ended 30 June 2026, TrivarX reported revenues from ordinary activities of $14,566, compared with $1,128,979 in the previous corresponding period, a decrease of 98.71%. Total comprehensive loss attributable to members was $8,915,118, compared with $972,663 in FY25, an increase of 816.57%. Net loss for the year attributable to members was $8,762,643, compared with $943,231 in the prior year, representing an increase of 829.00%.

The statement of profit or loss showed employee costs of $1,095,675, Research and Development expenses of $10,344, finance costs of $12,489, Depreciation of $37,310, Amortisation expenses of $6,435,579, Impairment expenses of $342,449, and other expenses of $843,363 for the year. Basic and diluted loss per share were both reported at 95.59 cents, compared with 0.19 cents in FY25.

The statement of financial position as at 30 June 2026 showed total Assets of $16,534,754 and total liabilities of $565,636, resulting in net assets of $15,969,118, compared with $12,652,377 as at 30 June 2025. Cash and cash equivalents stood at $2,443,389 at year end, compared with $1,246,838 in the prior year. No dividends were declared in the current or prior year.

Intangibles and the Stabl-Im Acquisition

Notes to the financial statements detailed the company's intangible assets, which totalled $13,920,082 at 30 June 2026, up from $12,014,813 a year earlier. This included amortisation expenses of $6,435,579 across the period and an impairment of $342,449 related to the MLB Proof of Concept development, which the company determined was not expected to derive future economic benefits.

The largest addition to intangibles during the year related to the Acquisition of the Stabl-Im brain imaging technology from Nucleics Pty Ltd on 12 December 2025, with a Fair Value of consideration totalling $7,873,884, comprising a non-refundable option fee, performance shares and facilitator options. The technology is intended to enable imaging and monitoring of brain cancers through standard Magnetic Resonance Imaging using stable isotope labelling of replicating cells.

Going Concern and Capital Position

The preliminary final report noted that it is likely the company's auditor will issue an Independent Auditor's Report containing an Emphasis of Matter paragraph drawing attention to a material uncertainty that may cast significant doubt about the group's ability to continue as a going concern. The report has been prepared on a Going Concern basis.

The company disclosed that it successfully raised $4,392,000 before Transaction Costs during the financial year ended 30 June 2026, and that directors have confidence in the group's ability to raise further capital when required and to manage expenditure to meet Working Capital requirements for at least the next twelve months. During the year, Issued Capital increased through several placements, ending the period at $113,727,018 across 1,153,693,464 fully paid ordinary shares.

The Bottom Line

TrivarX's FY26 preliminary final report shows a substantial year-on-year increase in net loss, driven largely by amortisation and impairment charges linked to the company's intangible development assets, including the recently acquired Stabl-Im brain imaging technology. The report includes a going concern disclosure, with directors outlining their basis for continuing operations, supported by capital raised during the year and an expectation of further fundraising capacity. Investors will likely watch for the finalised audited accounts and further updates on the commercialisation pathway for the company's technology platforms.