Major Estimate Revision • Jun 17
Consensus revenue estimates increase by 33% The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from AU$810.0k to AU$1.08m. EPS estimate reaffirmed at -AU$0.014 per share. Software industry in Australia expected to see average net income growth of 37% next year. Consensus price target of AU$1.43 unchanged from last update. Share price was steady at AU$1.22 over the past week. New Risk • May 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$91k revenue, or US$65k). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Major Estimate Revision • May 20
Consensus revenue estimates decrease by 17%, EPS upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from AU$1.32m to AU$1.10m. EPS estimate increased from -AU$0.0106 to -AU$0.0099 per share. Software industry in Australia expected to see average net income growth of 37% next year. Consensus price target up from AU$0.95 to AU$1.40. Share price rose 5.5% to AU$1.16 over the past week. Price Target Changed • Apr 18
Price target increased by 53% to AU$0.95 Up from AU$0.62, the current price target is an average from 2 analysts. New target price is 21% below last closing price of AU$1.21. Stock is up 303% over the past year. The company is forecast to post a net loss per share of AU$0.011 next year compared to a net loss per share of AU$0.023 last year. Price Target Changed • Mar 25
Price target decreased by 8.4% to AU$0.60 Down from AU$0.66, the current price target is provided by 1 analyst. New target price is 25% below last closing price of AU$0.80. Stock is up 167% over the past year. The company is forecast to post a net loss per share of AU$0.011 next year compared to a net loss per share of AU$0.023 last year. Reported Earnings • Mar 03
First half 2026 earnings released: AU$0.013 loss per share (vs AU$0.011 loss in 1H 2025) First half 2026 results: AU$0.013 loss per share (further deteriorated from AU$0.011 loss in 1H 2025). Net loss: AU$8.66m (loss widened 39% from 1H 2025). Revenue is forecast to grow 120% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 74% per year, which means it is well ahead of earnings. Breakeven Date Change • Feb 06
Forecast breakeven date pushed back to 2028 The analyst covering Echo IQ previously expected the company to break even in 2027. New forecast suggests losses will reduce by 56% per year to 2027. The company is expected to make a profit of AU$12.2m in 2028. Average annual earnings growth of 92% is required to achieve expected profit on schedule. Annuncio • Nov 25
Echo IQ Limited Completes its Clinical Validation for its Heart Failure Clinical Decision Support Software in Collaboration with the Mayo Clinic Platform Echo IQ Limited announced that it has completed its clinical validation for its heart failure clinical decision support software ("EchoSolv HF") in collaboration with the Mayo Clinic Platform ("MCP"), a division of the Mayo Clinic, a top ranked US hospital. The MCP Validate program is a unique in-market AI evaluation program which generates an independent and objective report on accuracy, efficacy and susceptibility to bias for AI-based decision software. The clinical validation was designed to evaluate the EchoSolv HF model's ability to detect heart failure on an independent dataset of ~17,000 individual echocardiogram studies. In a major milestone, the primary endpoint of the clinical validation has been met, with results exceeding expectations. The study results show that EchoSolv HF demonstrated outstanding performance in identifying patients with heart failure, achieving a sensitivity of 99.5%. Likewise, the model was accurate in identifying patient that did not have heart failure, achieving a specificity of 91.0%. Completion of the clinical validation marks the final clinical requirement prior to a formal submission for clearance by the US Food & Drug Administration ("FDA"). Echo IQ is now in the process of completing its formal submission to advance the clearance of EchoSolv HF via the FDA's 510(k) regulatory pathway. The Company expects to lodge this submission in the coming weeks. FDA clearance of the solution would allow for EchoSolv HF to be marketed to and used by healthcare professionals in the USA as a clinical decision support software to aid in the detection of heart failure. Heart failure is the leading cause for rehospitalisation in the US and accounts for 17% of all healthcare expenditure in the country. It is now estimated that one in four Americans will develop heart failure in their lifetime. Upon potential FDA clearance of the solution, the Company intends to leverage its existing footprint in the US market to drive uptake of EchoSolv HF. Breakeven Date Change • Nov 25
Forecast breakeven date pushed back to 2027 The 2 analysts covering Echo IQ previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of AU$79.2m in 2027. Average annual earnings growth of 37% is required to achieve expected profit on schedule. Annuncio • Nov 13
Echo Iq Highlights Market Potential for Echosolv as Following Presentation of New Data for Severe Aortic Stenosis (As) Presented At Aha Scientific Sessions 2025 Echo IQ announced that overwhelmingly convincing data from two recent studies have highlighted the significant gaps in the current standard-of-care for diagnosing and monitoring severe aortic stenosis (AS), and potential for EchoSolv AS to drive improved patient outcomes. The results from both studies were presented separately at the American Heart Association (AHA) Scientific Sessions 2025, which was held in New Orleans, Louisiana. A key takeaway from the study that reviewed echocardiograms for more than 1.2 million patients is that the 'watchful waiting' strategy for moderate-to-severe AS cases is failing many of these patients. In addition, the insights from the results that show how EchoSolv AS was able to identify the severe AS phenotype more accurately than cardiologists, particularly in some subtypes of AS. This study was of particular interest as it showed clearly that the company have work to do in accurately diagnosing women with aortic stenosis and the company are optimistic with the performance of EchoSolv AS to improve the gender equity. Study titled, "Accuracy of cardiologist reporting of severe aortic stenosis vs decision-support artificial intelligence and its impact on clinical management" presented by Dr. Vikas Bhat, University of Notre Dame Australia, this investigator-initiated study compared traditional cardiologist reporting with EchoSolv™?, an AI-powered clinical decision support system. Findings from 30,878 echocardiograms revealed: EchoSolv outperformed cardiologists in identifying severe AS phenotypes, particularly in women and low- gradient cases. Findings underscore the need for policy and clinical practice changes to address treatment gaps and improve survival. This study was funded by an IIS grant from Edwards LifeScience. The funders played no part in the data curation/analysis /preparation of these data. EchoSolv AS is poised to change this paradigm by enabling more precise and consistent identification of high-risk AS patients, thereby supporting clinicians in making informed, timely decisions regarding intervention. Globally, AS is a widespread but frequently underdiagnosed condition, primarily caused by calcification of the aortic valve, which serves as a critical gateway to the heart. Failure to diagnose AS in a timely manner can lead to missed opportunities for lifesaving interventions, such as valve replacement surgery. EchoSolv AS has undergone rigorous validation, including FDA Clearance, through extensive testing across both the United States and Australia, demonstrating the utility of aiding in the accurate diagnosis of patients with aortic stenosis. NEDA principal investigator, Professor David Playford, the senior author for both studies, said: " These studies confirm previous reports in two ways. First, reaffirm that moderate and severe aortic stenosis is a lifethreatening condition that causes significant health service utilization, heart failure hospitalizations and premium mortality. Second, artificial intelligence is capable of outperforming cardiologists in the identification of the set of abnormalities that happen when aortic stenosis progresses toward the severe state. These two findings, taken together, reinforce that EchoSolv AS AI should be considered as a routine option during echocardiographic reporting. Authorised for release by the Board of Directors of Echo IQ Limited. Recent Insider Transactions • Oct 11
Independent Non-Executive Director recently bought AU$228k worth of stock On the 9th of October, Stephen Picton bought around 1m shares on-market at roughly AU$0.18 per share. This transaction amounted to 5.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Annuncio • Sep 30
Echo IQ Limited, Annual General Meeting, Nov 18, 2025 Echo IQ Limited, Annual General Meeting, Nov 18, 2025. New Risk • Aug 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$6.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-AU$6.5m free cash flow). Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Revenue is less than US$5m (AU$1.7m revenue, or US$1.1m). Market cap is less than US$100m (AU$135.8m market cap, or US$88.9m). Reported Earnings • Aug 31
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: AU$0.023 loss per share (further deteriorated from AU$0.011 loss in FY 2024). Net loss: AU$13.3m (loss widened 145% from FY 2024). Revenue missed analyst estimates by 45%. Earnings per share (EPS) also missed analyst estimates by 46%. Revenue is forecast to grow 48% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. New Risk • Jun 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 20% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$130k revenue, or US$84k). Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (AU$145.2m market cap, or US$94.2m). New Risk • May 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$130k revenue, or US$84k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (AU$147.1m market cap, or US$94.8m). New Risk • May 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$141.2m (US$91.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$130k revenue, or US$84k). Minor Risks Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (AU$141.2m market cap, or US$91.0m). Breakeven Date Change • May 12
Forecast breakeven date pushed back to 2027 The 2 analysts covering Echo IQ previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of AU$44.4m in 2027. Average annual earnings growth of 126% is required to achieve expected profit on schedule. Annuncio • May 07
Echo IQ Limited has completed a Follow-on Equity Offering in the amount of AUD 17.3 million. Echo IQ Limited has completed a Follow-on Equity Offering in the amount of AUD 17.3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 56,666,667
Price\Range: AUD 0.3
Discount Per Security: AUD 0.018
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,000,000
Price\Range: AUD 0.3
Discount Per Security: AUD 0.018
Transaction Features: Subsequent Direct Listing Annuncio • Apr 03
Echo IQ Provides Update on the Company's Pre-Submission Meeting with the United States Food and Drug Administration Regarding Its Heart Failure Clinical Decision Support Solution Echo IQ provided an update on the Company's pre-submission meeting with the United States ("US") Food and Drug Administration ("FDA") regarding its heart failure clinical decision support solution ("EchoSolv HF"). The Company is also pleased to announceda collaboration agreement with the Mayo Clinic Platform, part of the Mayo Clinic, a top-ranked US hospital, to undertake Echo IQ's proposed validation study and qualify the Company's artificial intelligence ("AI") heart failure model. The study, expected to commence this quarter, marks the final clinical requirement prior to a formal submission for clearance by the FDA. Echo IQ anticipates FDA clearance for EchoSolv HF during H2 CY2025. Echo IQ requested the pre-submission meeting with the US FDA in December 2024 to verify the design for a proposed validation study which will evaluate EchoSolv HF in its ability to detect various forms of heart failure. The Company undertook the meeting during the first quarter of 2025 and advises that it had positive engagement with the regulator. The engagement has provided the Company confidence to advance the proposed study design of EchoSolv HF's upcoming clinical validation study. Agreement with the Mayo Clinic Platform to undertake validation study and utilisation of EchoSolv HF: Following the pre-submission meeting, the Company executed a collaboration agreement with the Mayo Clinic Platform to undertake the upcoming validation study. Mayo Clinic Platform is focused on earlier diagnoses, more accurate diagnosis and care personalised for each person. Mayo Clinic Platform is creating a world where the best possible care is available to everyone, everywhere. As new technologies create novel opportunities and approaches, Mayo Clinic Platform is harnessing these new technologies to change how care is provided. As part of the agreement, the Mayo Clinic Platform also has the right to utilise EchoSolv HF within the group's network of 30 hospitals, utilise Mayo Clinic Platform's proprietary integration software system alongside the product and co-brand with the Company on its EchoSolv HF and heart failure related materials. The pending validation study will commence this quarter with anticipated completion mid-year. This leaves the Company well placed to meet its proposed timelines for a formal submission to the FDA for regulatory clearance of EchoSolv HF in H2 this calendar year. The agreement with Mayo Clinic Platform provides strong validation of the Company's offering and its potential to positively impact heart failure, which is a widespread condition globally. Heart failure is the leading cause of re-hospitalisation in the US, accounting for 17% of all US healthcare expenditure i. The market for heart failure is estimated to be USD 70 billion annually ii. New Risk • Mar 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$5.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.2m free cash flow). Earnings have declined by 27% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (AU$158.9m market cap, or US$98.6m). Board Change • Dec 13
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Steve Picton was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Dec 12
Echo IQ Limited Appoints Ken Nelson A Non-Executive Director Echo IQ Limited advised that US-based healthcare and medical technology executive Mr. Ken Nelson has been appointed a Non-Executive Director, effective 11 December 2024. In line with Mr. Nelson's appointment, Mr. Simon Tolhurst has tendered his resignation from the Board of Directors. Mr. Tolhurst has been a member of the Company's Board since June 2023 and has provided exceptional guidance on Echo IQ's growth trajectory to date, where his specialist expertise was highly valued as part of the Company's successful FDA Clearance. Incoming Director, Mr. Ken Nelson is a leading US-based medical technology and healthcare executive with over 20 years' industry experience. During his career he has been pivotal in leading successful commercialisation efforts with multiple cardiac-focused digital health companies including remote cardiac and diagnostics monitoring business, BioTelemetry, wearable device company, iRhythm and ambulatory ECG solutions monitoring group, Bardy Diagnostics. Currently, he serves as partner in the Medtech Advantage Fund, which has an exclusive partnership with Medtech Innovator. In addition to this, Mr. Nelson serves as Chairman to the Board of Israeli-based medical technology company, CardiaCare, and is an active Board member of other cardiac-focused digital health and medical technology companies including HeartBeam, Acarix, US-based company Epitel, and European-based platform Happitech. Mr. Nelson also sits on a number of advisory boards and planning committees for early-stage medical technology companies, as well as several industry groups including the Innovation Advisory Board of Heart Rhythm Society, the Health Tech Innovation Business Advisory Board and the Heart & Brain Accelerator of the American Heart Association. Mr. Nelson has an extensive network in the global medical technology sector and strong relationships with a large cohort of sophisticated investors in the healthcare sector. The Company is confident that his expansive network will be beneficial as Echo IQ continues to execute its commercialisation strategy. Annuncio • Oct 09
Echo IQ Limited Announces CEO Changes, Effective 10 January 2025 Echo IQ Limited that senior healthcare executive, Mr. Dustin Haines, has been appointed as Chief Executive Officer, effective 10 January 2025 and will be based in the US to spearhead the Company's strategy. Mr. Haines has exceptional experience, stemming from a 25-year career in the biotechnology and pharmaceutical sectors. As CEO, Mr. Haines will be focused on executing the Company's stated growth strategy starting with commercialization in the US market, which will include obtaining relevant market access and reimbursement of the Company's technology. Mr. Haines has extensive experience with building high performing teams and bringing innovation to the market. His knowledge of the industry is expected to play an important role in the Company's strategy. As previously advised, Echo IQ is in advanced negotiations with multiple large hospital groups, pharmaceutical companies and device manufacturers around the uptake of EchoSolv and is confident Mr. Haines' skillset will assist with executing on these negotiations to grow revenue. Echo IQ also plans to leverage Mr. Haines' extensive network to further broaden its pipeline of opportunities in the US and internationally. Mr. Haines, a US citizen and seasoned American healthcare executive, was most recently Vice President & General Manager of Gilead Sciences, Asia, Middle East, Turkey and Russia. During this time, he led business development across several product categories including infectious disease, oncology and immunology. Prior to his time at Gilead Sciences, he was Chief Commercial Officer at medical technology company, Next Science Limited. Mr. Haines has also spent over a decade in senior roles with both ViiV Healthcare and GSK (GlasxoSmithKline), where he was instrumental in delivering Phase 3 assets through to category leading commercialization. In these roles, Mr. Haines covered Japan, Europe and the US, where he has developed extensive networks. Upon commencement of Mr. Haine's tenure, Mr. Andrew Grover will relinquish the role of interim Managing Director and maintain his role as Executive Chair. Reported Earnings • Oct 05
Full year 2024 earnings released: AU$0.011 loss per share (vs AU$0.018 loss in FY 2023) Full year 2024 results: AU$0.011 loss per share (improved from AU$0.018 loss in FY 2023). Net loss: AU$5.41m (loss narrowed 35% from FY 2023). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Sep 24
Echo IQ Limited, Annual General Meeting, Nov 12, 2024 Echo IQ Limited, Annual General Meeting, Nov 12, 2024. Reported Earnings • Aug 30
Full year 2024 earnings released: AU$0.012 loss per share (vs AU$0.018 loss in FY 2023) Full year 2024 results: AU$0.012 loss per share (improved from AU$0.018 loss in FY 2023). Net loss: AU$5.41m (loss narrowed 35% from FY 2023). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 4% per year. New Risk • May 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.8m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 39% per year over the past 5 years. Revenue is less than US$1m (AU$782k revenue, or US$517k). Minor Risks Shareholders have been diluted in the past year (8.3% increase in shares outstanding). Market cap is less than US$100m (AU$64.4m market cap, or US$42.6m). New Risk • Mar 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.8m free cash flow). Earnings have declined by 39% per year over the past 5 years. Revenue is less than US$1m (AU$782k revenue, or US$510k). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (8.5% increase in shares outstanding). Market cap is less than US$100m (AU$66.8m market cap, or US$43.6m). Annuncio • Feb 01
Echo IQ Limited Announces the Resignation of Shannon Robinson from the Role of Joint Company Secretary Echo IQ Limited advised that Shannon Robinson has resigned from the role of Joint Company Secretary. Jessamyn Lyons remains in the role of Company Secretary to the Company and its subsidiaries. Annuncio • Oct 05
Echo IQ Limited, Annual General Meeting, Nov 21, 2023 Echo IQ Limited, Annual General Meeting, Nov 21, 2023. Reported Earnings • Oct 02
Full year 2023 earnings released: AU$0.018 loss per share (vs AU$0.017 loss in FY 2022) Full year 2023 results: AU$0.018 loss per share (further deteriorated from AU$0.017 loss in FY 2022). Net loss: AU$8.27m (loss widened 27% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 64% per year, which means it is well ahead of earnings. Reported Earnings • Sep 01
Full year 2023 earnings released: AU$0.018 loss per share (vs AU$0.017 loss in FY 2022) Full year 2023 results: AU$0.018 loss per share (further deteriorated from AU$0.017 loss in FY 2022). Net loss: AU$8.21m (loss widened 27% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 53% per year, which means it is well ahead of earnings. New Risk • Aug 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.1m free cash flow). Earnings have declined by 37% per year over the past 5 years. Revenue is less than US$1m (AU$156k revenue, or US$101k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (15% increase in shares outstanding). Significant insider selling over the past 3 months (AU$92k sold). Market cap is less than US$100m (AU$74.0m market cap, or US$47.9m). Recent Insider Transactions Derivative • Jul 08
Independent Non-Executive Director exercised options to buy AU$714k worth of stock. On the 7th of July, Steven Formica exercised options to buy 5m shares at a strike price of around AU$0.079, costing a total of AU$404k. This transaction amounted to 25% of their direct individual holding at the time of the trade. Since September 2022, Steven's direct individual holding has increased from 20.17m shares to 20.42m. Company insiders have collectively bought AU$160k more than they sold, via options and on-market transactions, in the last 12 months. Annuncio • Jun 03
Echo IQ Announces the Appointment of Simon Tolhurst as A Non-Executive Director Echo IQ announced the appointment of Simon Tolhurst as a Non-Executive Director, effective from 1 June 2023. Mr. Tolhurst brings extensive board experience to the role. For five years, he was Non-Executive Chairman of ASX-listed NextEd Group Ltd. where he oversaw a period of significant growth, a company transformational acquisition matched with share price appreciation. He continues to serve as a Non-Executive Director at NextED Group Ltd. and holds other senior board roles in the private sector. Simon has more than 30 years' experience in legal practice, and was until recently a Partner at HWL Ebsworth's Litigation Team prior to his recent retirement as a practicing lawyer. His areas of expertise include dispute resolution and competition law. He was named in The Australian Financial Review's Best Lawyers® in the Litigation category, was recognised in Doyle's Guide as a Leading Commercial Litigation & Dispute Resolution Lawyer and was part of the HWL Ebsworth's National Competition Law and Anti-Trust Group that was recognised as a leading firm by both Chambers and Legal 500. Reported Earnings • Mar 03
First half 2023 earnings released: AU$0.01 loss per share (vs AU$0.009 loss in 1H 2022) First half 2023 results: AU$0.01 loss per share (further deteriorated from AU$0.009 loss in 1H 2022). Net loss: AU$4.61m (loss widened 31% from 1H 2022). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 82% per year, which means it is well ahead of earnings. Annuncio • Dec 16
Echo Iq Limited Announces Positive Interim Results from Clinical Trial At St Vincent's Echo IQ announced positive interim results from its clinical trial at St Vincent's Hospital in Melbourne, Australia. The study demonstrates that the artificial intelligence in Echo's IQ's EchoSolv TM for Aortic Stenosis ("EchoSolv TM) enhances the identification of severe aortic stenosis (AS) using echocardiography. Echo IQ's EchoSolvTM platform for the detection of severe aortic stenosis was applied retrospectively to echocardiography ("echo") data from the hospital. The results of the EchoSolv TM platform were compared with the cardiologist reports and clinical outcomes of patients. The trial's primary objective was to evaluate whether EchoSolv TM could enhance identification of patients with severe AS and help guide doctors to make active management plans for these patients. EchoSolvTM successfully identified 100% of patients with guideline-defined severe aortic stenosis (being 317, or 3.8%, of the study population of 8,257 patients attending the hospital's echo laboratory). EchoSolvTM showed its capability to enhance clinical practice as 142 (or 45%) of those patients identified with guideline-severe AS by EchoSolv TM had not been identified as having guideline-severe AS by the cardiologist. EchoSolvTM identified an additional 145 patients (1.8% of the total study population) with a medium-high probability of severe AS but falling outside current clinical practice guidelines for a severe AS diagnosis. These patients would benefit from further review by the cardiologist. This study demonstrates the potential for EchoSolvTM to play an important "decision support" role in echo reporting because of the major influence a diagnosis of severe AS has on subsequent management. The echo report issued by the cardiologist has a substantial impact on valve intervention decisions. Where severe AS had been reported by the cardiologist, patients went on to receive aortic valve replacements in 57% of cases. Where the patient had not initially been identified as having disease of this severity by the cardiologist only 23% of cases underwent valve intervention. Severe AS is a serious condition with a high risk of death if left untreated, so identifying all patients with severe AS is of great importance. EchoSolv TM therefore shows strong promise by successfully highlighting all patients with guideline-severe AS to the reporting cardiologist, to assist with decision- making. Annuncio • Dec 09
Echo IQ Launches EchoSolv for Immediate Distribution AI and Medical Technology company Echo IQ announced that its cloud-based enhanced screening platform for structural heart disease, commencing with aortic stenosis, is now available to registered customers in the US. The platform will be sold under the name EchoSolv which has been chosen to reflect the importance of identifying patients at risk of structural heart disease, and the vital role that analysis of echocardiograms plays in meeting that challenge. The EchoSolv software platform is designed to support clinicians and physicians in identifying patients with guideline-defined aortic stenosis in the first instance. Whilst treatment options for sufferers of severe aortic stenosis are considered safe and reliable, the condition has a 2 -year mortality rate of 50% when left untreated. EchoSolv TM is designed to ensure patients who would benefit from treatment or further clinical review are accurately identified. The rigorously tested product has been developed in consultation with leading cardiologists. Echo IQ's Chief Medical Advisor and Cardiologist, Professor David Playford indicates that EchoSolv "automates the identification of high-risk aortic stenosis patients. It heralds the beginning of a new era by improving the cardiologist's focus on patients at-risk without requiring any change of cardiac imaging solution, no new hardware, no new devices, and no new interference with existing infrastructure." Key Product Features: Rapid automated assessment of echocardiographic measurements for consistent analysis. Bulk assessments completed at a rate of up to 48,000 per minute. EchoSolv dashboard displays whether in-guideline thresholds have been met plus displays of key measurements and time-stamped assessments. Optional SMS/Email alerts for high-risk patients. Results can be exported in PDF and other formats. Ability to deploy platform to new markets incorporating local regulatory frameworks. Available Web Application Programming Interface (API) supports optional integration into existing workflows/systems for real-time results. Role based access controls for audit and usage traceability. Cloud-based HIPAA and SOC2 compliant platform ensures security of patient and provider information. Echo IQ is initially introducing EchoSolv in the United States where the Company has recently achieved positive results with the product in a clinical efficacy study with Harvard Medical School's Beth Israel Deaconess Medical Center. This study demonstrated that EchoSolv successfully identified sizeable cohorts of patients with guideline-detected severe aortic stenosis as well those with a significantly heightened risk of death from the condition. Annuncio • Dec 01
Echo IQ Limited Announces Positive Results from US Clinical Study Echo IQ announced that it has achieved clear and positive results from its clinical effectiveness and validation study conducted at Beth Israel Deaconess Medical Center (BIDMC). These results are the first for Echo IQ from the important US market. Echo IQ entered into a study agreement with Beth Israel De aconess Medical Center to assess the effectiveness of the Company's technology, as announced 27 July 2022. The study was conducted to retrospectively analyse patient records to evaluate Echo IQ's technology in detecting individuals with severe aortic stenosis as well as those with increased risk of death from the disease in a North American population. Key Findings: This study was performed on 31,141 patient records from the hospital. Echo IQ's commercially-ready AI-backed technology, named "EchoSolv TM, was applied to the BIDMC patient dataset. The key findings were: After excluding patients previously known to have been treated with an aortic valve replacement and compared to routine clinical interpretation, it rapidly and clearly identified a cluster of patients meeting guideline-definitions of severe aortic stenosis. This group accounted for a large (~5%) percentage of patients undergoing echocardiography at BIDMC. The study revealed that this cohort, meeting current echocardiographic guidelines for severe AS, received valve replacement in fewer than 50% of cases, consistent with known rates of treatment. Overall, the study showed that treatment for those with increased risk of death from aortic stenosis was received in only a quarter of cases identified by EchoSolv TM. EchoSolv TM was also successful in identifying an additional group of individuals, similar in size to the first, with a similar pattern to those with severe aortic stenosis and having a substantially increased risk of death despite not meeting current treatment guidelines. Being able to identify this group of patients has the potential to assist clinicians in the important prioritization of patients that may benefit from more intense follow-up or aortic valve replacement. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Chairman Steve Formica was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Nov 10
Echo IQ Limited Appoints Adam Uren as Joint Company Secretary Echo IQ Limited announced the appointment of Adam Uren as Joint Company Secretary of the Company effective immediately. Adam has 8 years' experience in the stockbroking and financial services industry having previously worked at Canaccord Genuity (formerly Patersons Securities). Adam is currently a Corporate Advisor at Nexia Perth which has recently acquired Everest Corporate where Adam has been working with a portfolio of listed companies assisting them with their corporate governance and compliance requirements. Adam will work alongside Jessamyn Lyons who remains in the role of Joint Company Secretary. Annuncio • Oct 10
Echo IQ Limited, Annual General Meeting, Nov 28, 2022 Echo IQ Limited, Annual General Meeting, Nov 28, 2022. Reported Earnings • Oct 01
Full year 2022 earnings released: AU$0.017 loss per share (vs AU$0.012 loss in FY 2021) Full year 2022 results: AU$0.017 loss per share (further deteriorated from AU$0.012 loss in FY 2021). Net loss: AU$6.49m (loss widened 90% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 58% per year, which means it is well ahead of earnings. Annuncio • Sep 13
Echo IQ Appoints Donald Fowler as President, Echo IQ USA Echo IQ announced the appointment of Donald Fowler to the newly created position of President, Echo IQ USA. Don brings more than 30 years of executive leadership in high technology medical systems to the company, with particular expertise in business scale-up and commercialisation. He spent 26 years working for Siemens Healthcare (USA), a global leader in medical imaging, laboratory diagnostics and healthcare information technology. He subsequently joined Toshiba (America) Medical Systems, one of the world's pre-eminent producers and distributors of diagnostic imaging systems, where he went on to hold roles as President, CEO and Board Director. Don's technical knowledge, industry experience and network of leading decision-makers in Echo IQ's priority channels (from ASCs and hospitals, to diagnostic labs and specialist physicians) is expected to help the company fast-track the roll-out of its novel AI-backed solutions for structural heart health. Reported Earnings • Sep 01
Full year 2022 earnings released: AU$0.016 loss per share (vs AU$0.011 loss in FY 2021) Full year 2022 results: AU$0.016 loss per share (down from AU$0.011 loss in FY 2021). Revenue: AU$836.5k (down 15% from FY 2021). Net loss: AU$6.17m (loss widened 106% from FY 2021). Recent Insider Transactions Derivative • Jul 06
Interim MD & Executive Chairman exercised options to buy AU$600k worth of stock. On the 30th of June, Andrew Grover exercised options to buy 5m shares at a strike price of around AU$0.04, costing a total of AU$200k. This transaction amounted to 21% of their direct individual holding at the time of the trade. Since September 2021, Andrew's direct individual holding has increased from 21.62m shares to 24.12m. Company insiders have collectively bought AU$600k more than they sold, via options and on-market transactions, in the last 12 months. Annuncio • Jul 05
Paul and David Smulders completed the acquisition of Prometheus Information Pty Limited from Echo IQ Limited (ASX:EIQ). Paul and David Smulders agreed to acquire Prometheus Information Pty Limited from Echo IQ Limited (ASX:EIQ) for AUD 0.6 million on May 9, 2022. The total consideration of AUD 0.6 million comprising a cash payment of AUD 0.42 million and receivables to the value of AUD 0.18 million between the date of execution of the sale agreement and the completion date of July 1, 2022. The transaction is expected to conclude by July 1, 2022.
Paul and David Smulders completed the acquisition of Prometheus Information Pty Limited from Echo IQ Limited (ASX:EIQ) on May 9, 2022. Recent Insider Transactions Derivative • Jun 26
Independent Non-Executive Director exercised options to buy AU$500k worth of stock. On the 24th of June, Steven Formica exercised options to buy 5m shares at a strike price of around AU$0.04, costing a total of AU$200k. This transaction amounted to 33% of their direct individual holding at the time of the trade. Since June 2021, Steven's direct individual holding has decreased from 13.83m shares to . Company insiders have collectively bought AU$400k more than they sold, via options and on-market transactions, in the last 12 months. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Director Steve Formica is the most experienced director on the board, commencing their role in 2018. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 04
Full year 2021 earnings released: AU$0.011 loss per share (vs AU$0.012 loss in FY 2020) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2021 results: Revenue: AU$983.2k (up 45% from FY 2020). Net loss: AU$2.99m (loss widened 12% from FY 2020). Recent Insider Transactions • Sep 14
Independent Non-Executive Director recently bought AU$200k worth of stock On the 8th of September, Steven Formica bought around 1m shares on-market at roughly AU$0.15 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Sep 03
Full year 2021 earnings released: AU$0.01 loss per share (vs AU$0.012 loss in FY 2020) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2021 results: Revenue: AU$1.33m (up 96% from FY 2020). Net loss: AU$2.98m (loss widened 11% from FY 2020). Annuncio • Jul 15
Houston We Have Limited (ASX:HWH) completed the acquisition of Alerte Echo IQ Pty Ltd. Houston We Have Limited (ASX:HWH) entered into an agreement to acquire Alerte Echo IQ Pty Ltd for AUD 8.6 million on March 31, 2021. Acquisition terms are an upfront cash payment of AUD 1 million and the issue of 30,000,000 shares at a price of AU 0.05 per share for the issue of AUD 1.5 million worth of Houston We Have shares. HWH will also pay deferred milestone payments of up to AUD 0.25 million in cash and 15,000,000 Houston We Have Shares (at a deemed issue price of AUD 0.05 per Share) upon Echo IQ meeting $5 million (AUD 6.573 million) revenue hurdle within 3 years provided that revenue is derived from a contract with a leading artificial heart valve manufacturer; and AUD 2.95 million cash and 20,000,000 Houston We Have Shares (at a deemed issue price of AUD 0.05 per Share) upon Echo IQ meeting a $10 million (AUD 13.146 million) revenue hurdle within 3 years. On completion of the acquisition, Houston We Have has agreed to pay to the major shareholder of Echo IQ (or its nominee/s) AUD 1 million in relation to amounts owing by Echo IQ to that shareholder. HWH received commitments for AUD 2.5 million equity placement from capital fundraising with 50,000,000 shares at AUD 0.05 per share to fund acquisition and deliver added financial flexibility to pursue growth. Out of AUD 2.5 million equity placement, AUD 1 million will be used to provide the cash obligation on completion of the acquisition. As of April 14, 2021 Houston We Have issued 46 million fully paid ordinary shares to fund the acquisition of 100% of ECHO IQ. On positive conclusion of
the shareholders’ meeting scheduled for 31 May, 2021.
Transaction is subject to completion of due diligence by HWH on Echo IQ, including the assets of Echo IQ, such as any intellectual property rights or licences, to the satisfaction of Houston We Have in its sole discretion; and Houston We Have obtaining all necessary shareholder and regulatory approvals pursuant to the ASX Listing Rules, Corporations Act 2001 (Cth) to lawfully complete the matters set out in the agreement, which includes shareholder approval for the issue of the consideration shares. As of May 19, 2021, Houston We Have has completed its due diligence of the purchase of Alerte Echo IQ. Transaction is expected to close on May 31, 2021. Taurus Capital Group Pty Ltd acted as financial advisor to Houston We Have Limited. Houston We Have has agreed to issue a total of 30,000,000 shares and 30,000,000 options at an exercise price of AUD 0.05 each and an expiry date of 3 years from the date of issue to Taurus Capital Pty Ltd for services provided in arranging the transaction with Echo IQ. The issue of these shares and options is subject to shareholder approval.
Houston We Have Limited (ASX:HWH) completed the acquisition of Alerte Echo IQ Pty Ltd on July 15, 2021. Annuncio • Feb 11
Houston We Have and Wipro Form a Strategic Alliance Houston We Have and Wipro Limited have entered into a strategic alliance to help organizations use data for better decision making. This alliance will see Houston We Have's solutions deployed to selected Wipro clients with the aim of improving customer retention and supporting improved targeting of products and services. Wipro specialises in creating `ME'aningful experiences to enhance customer journeys in digital world. With retail and other industries undergoing significant disruption as the balance of power shifts to the consumer, many of Wipro's clients are leveraging the company's technological and sector expertise to gain agility and competitive advantage. Wipro not only enables process and technology transformation but also provides an innovation ecosystem that allows retailers to experience new technology and business paradigms. Houston We Have uses patented augmented intelligence software, data science and commercial insight to help organizations make better decisions, at speed and without bias. Its solutions allow clients to predict likely future outcomes without bias, and with high degrees of transparency, reliability and certainty. Originally developed for use in military intelligence, the company's software can also be used to help identify customers most at risk of directing their spend to competitors, in addition to the type and timing of future purchase decisions. Annuncio • Dec 18
Houston We Have Limited Update Shareholders on A New Client Engagement in the United Kingdom Houston We Have Limited update shareholders on a new client engagement in the United Kingdom, growth in annualised recurring revenue (ARR) due to new remits from existing clients, and further investment in significant technical innovation within its patented software, Intelfuze. The new client engagement is with a well-respected London-based asset management firm where Intelfuze will be used in portfolio management to identify potential risks earlier and automate a previous process that was complex and fragmented, partially manual and dependent on human interpretation. This is the Company's first engagement with an asset manager and the sector represents a major future opportunity. An agreement with marketplace lending platform Marketlend where the Company's prescriptive and
augmented intelligence software has been integrated to enhance Marketlend's credit risk assessment capabilities. This agreement delivers Houston We Have annual recurring revenue plus a fee for every
credit assessment; Increased project scope for Australian Regional Health Group Ltd. (ARHG) where Houston We Have, in a first for the company, is assisting ARHG migrate data to a new environment being hosted on the Amazon Web Services (AWS) platform. Additional solutions in the area of benchmarking alternative therapy provider service delivery and claiming patterns are also being provided. The Company first went live with ARHG in May and it is encouraging to note that the total contract value and scope has already increased; The Company continues to invest in its technology platforms with a major project now underway to evolve Intelfuze from a standalone desktop application to a cloud-based application. With Intelfuze in the cloud, access to and applications for our patented software are increased. The new User Interface (UI) will address both business users and analysts. The analyst will still retain the flexibility of designing and building models, as they do in the current desktop version; however new business users will be able to run quick assessments in a more easily consumed product. The UI will be simplified for quicker development times. The cloud version of Intelfuze also enables Houston We Have to offer a subscription-based pricing model. The Company will be able to attract alternative revenue streams by offering third-party developed models to be sold via a marketplace that can be developed in the future. The UI design work is underway and we are expecting to have the design finalized by the end of December. The development effort of the new UI will begin in early 2021 and a minimum viable product is expected to be released before 30 June 2021. Annuncio • Dec 12
Houston We Have Limited Announces Executives Changes Houston We Have Limited ("Houston We Have", the "Company") advised that Ben Secrett has resigned as Company Secretary. Lisa Wynne has been appointed as Company Secretary effective immediately. Lisa has significant experience in the roles of Company Secretary and Chief Financial Officer with over fifteen years of board level experience with ASX & TSX listed companies. The Board thanks Ben for his service and contributions as Company Secretary, Ben has worked incredibly hard and has been a valued member of the team throughout his time with the Company. Reported Earnings • Oct 04
Full year earnings released - AU$0.012 loss per share Over the last 12 months the company has reported total losses of AU$2.68m, with losses widening by 456% from the prior year. Total revenue was AU$679.9k over the last 12 months, down 18% from the prior year. Annuncio • Sep 29
Houston We Have Limited Announces Resignation of Antanas Guoga as Non-Executive Director Houston We Have Limited ('Houston We Have', the 'Company') announced that Non-Executive Director, Mr. Antanas Guoga, has tendered his resignation as a Director of the Company.