By Digifin Pty Ltd · About this coverage
Key Points
- 1Q27 net sales contracts executed US$25.1 million, against US$21.42 million a year earlier
- Five Phase 3 mood disorder trials contributed over 80% of contract value
- Contracted FY27 revenue US$56.8 million, up from US$48.3 million at 30 June 2026
- In-year revenue yield of 34%, with licence fee contribution of 7%
- Total contracted revenue US$143.7 million, up 41%
About Cogstate (ASX:CGS)
Cogstate Ltd is an ASX-listed neuroscience technology company headquartered in Melbourne. It provides cognitive assessment and clinical trial endpoint data quality services to pharmaceutical and biotechnology companies, and digital cognitive tests for healthcare use.
Cogstate (ASX:CGS) released its first quarter FY27 business update to report contract sales and its contracted revenue position, after winning five Phase 3 trials in mood disorders during the quarter. All figures are in US$.
Net sales contracts executed in 1Q27 totalled $25.1 million, against $21.42 million in the September quarter of FY26. Five Phase 3 trials in bipolar or depression, across two customers, contributed over 80% of the value, which the company attributes partly to its channel partnership strategy. Contracted FY27 revenue rose to $56.8 million at 30 September 2026 from $48.3 million at 30 June 2026. The new contracts added $8.4 million to FY27 contracted revenue, an in-year revenue yield of 34%, which the company says was lower than typical for first-quarter sales due to a licence fee contribution of 7%, against a historical average of 20%-25%, and the longer duration of Phase 3 trials. Contracted FY28 revenue rose to $39.7 million from $31.4 million. Total contracted revenue was $143.7 million, up 41% on the previous corresponding period.
Contracted revenue is recognised over trial lives that can run 4-5 years for Phase 3, and the release gives no FY27 revenue or earnings guidance.
Source: Cogstate Ltd (ASX:CGS), 12 October 2026. Summary content supplied by Digifin Pty Ltd.
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