Fourth straight quarter of double digit growth as opportunities present in hospital & infants markets

PainChek Ltd (ASX: PCK) (“PainChek” or “the Company”), developer of the world’s first smart device-based pain assessment and monitoring application, is pleased to announce its quarterly activities and cashflow report (Appendix 4C) for the quarter ended 30 September 2023. Highlights 77,000 contracted licences with an ARR of $3.7M once fully implemented – 10% increase on the prior quarter and 91% increase on prior year. 7% quarterly increase in recognised revenue to $647,000. Cumulative PainChek pain assessments exceed 3,400,000 as of 30 September – an increase of 108% over the previous year. Three-year commercial contracts with two aged care facilities in Canada Uniting Care Queensland (UCQ) signs three-year contract across its 3,750 beds and 46 homes – largest Australian client to date. Scotland’s Care Inspectorate regulator announced PainChek in its the top three priorities in the innovation pillar of its quality improvement plan for 2023/24. A Phase 2 ‘test of change’ initiative, if successful, will support a potential national rollout across Scottish Care Homes, giving access to 38,000 licences. Existing pilots across 8 UK customers will provide access to a further 8,000 licences, in addition to the already contracted 20,000 licences in the UK. Retention rate remains at 85% of clients. Positive progress with the FDA de Novo study in Iowa and New York. Infant technology updated and ready for direct-to-consumer market introduction. Successfully achieved ISO 27001 certification, marking a significant milestone in PainChek’s ongoing commitment to information security and data protection. $3.55 million placement of shares announced, $2.83 million received in Q1, $0.72 million to be received end of November 2023. The Company will hold an investor webinar & Q&A for all shareholders and interested parties on Tuesday 31 October 2023 at 11:00am AEDT, further details will be available on the ASX announcements.