Cogstate (ASX: CGS) expects clinical trials sales booking to improve in 2HFY24

Wed 28 Feb 24, 05:41 AM | Team Kalkine

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Highlights

Cogstate Limited (ASX: CGS) is a US-based neuroscience technology company. Founded in 1999, the company focuses on optimizing cognitive assessments to support the advancement of new therapeutics and delivering earlier brain health insights in clinical care.

In the first half of financial year 2024 (1HFY24), the company registered 3.6% YoY growth in revenue to USD 20.2 million and 220% YoY increase in EBITDA to USD 3.2 million. During the reported period, operating cash flow stood at USD 0.5 million, up by 25% over the previous corresponding period. The period saw net profit of USD 2 million, up from USD 0.1 million in 1HFY23, driven by more than 3% YoY growth in clinical trials and cost reductions.

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