4DMedical (ASX: 4DX) has capped FY26 with strong growth in scan volumes and customer sites as its CT:VQ lung imaging technology moved from regulatory approval into commercial deployment across multiple markets.
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The respiratory imaging company reported FY26 operating revenue of $7.1 million, up 21% on FY25, with gross margins above 90%. The company finished the year with $278 million in cash at 30 June, giving it substantial funding to continue expanding its technology platform and commercial footprint.
A major focus for the year was the rollout of CT:VQ, which received US FDA clearance in September 2025 and subsequently secured a CMS reimbursement rate of US$650.50 per scan. CT:VQ received regulatory authorisation across the EU, UK, Canada, New Zealand and Australia during FY26, taking its total number of approved markets to six including the US.
The technology uses standard CT scans to generate ventilation-perfusion information without requiring radioactive tracers or contrast agents.
By the end of FY26, five major US academic medical centres had adopted CT:VQ commercially, including Stanford University, Cleveland Clinic, UC San Diego Health, University of Miami and University of Chicago Medicine.
4DMedical also signed a three-year agreement with SimonMed Imaging, giving CT:VQ access to an outpatient network spanning more than 170 imaging centres across 10 states.
Clinical data also provided a boost during FY26. Research published in the American Journal of Respiratory and Critical Care Medicine found that using CT:VQ to select patients for lung volume reduction surgery increased the proportion responding to the procedure from 46% to 76%.
The company also launched CLEAR, a multinational clinical program led by Massachusetts General Hospital targeting the acute pulmonary embolism market. 4DMedical said this expands the potential US market for CT:VQ to around US$3 billion.
Operational metrics continued to climb, with 4DMedical’s SaaS products now deployed across 540 sites globally, a 39% increase from June 2025. The company generated 344,075 scans during FY26, up 77% year-on-year, including a record 105,970 scans in the June quarter.
4DMedical said its existing product portfolio remains the main contributor to scan growth, while CT:VQ is expected to make an increasing contribution as commercial adoption expands.
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