Cogstate

Cogstate

Digital cognitive assessments for brain health

Overview

Cogstate provides digital cognitive assessments to support brain health research and drug development. Its tests are web- or app-based cognitive tasks that patients or trial participants complete, producing standardized scores that researchers can compare against validated benchmarks. Data from the tests is used in biopharma, academia, and clinical settings to measure cognition in trials and care, with accompanying consulting services. Unlike some competitors, Cogstate combines a long history (founded in 1999) with a focused application on cognitive measurement for pharmaceutical clinical trials and mental health/neurological conditions, along with ongoing scientific validation. The company’s goal is to improve the efficiency and reliability of cognitive measurement in research and clinical care to help develop and assess therapies for disorders like depression, schizophrenia, and bipolar disorder.

About Cogstate

Simplify's Rating
Why Cogstate is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Data & Analytics

Consulting

Enterprise Software

Healthcare

Company Size

201-500

Company Stage

IPO

Headquarters

Australia

Founded

1999

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Simplify's Take

What believers are saying

  • FY26 revenue rose 15% to AUD 60.9 million, with EBIT margin expanding to 25%.
  • New sales contracts jumped 116% to AUD 89 million, lifting contracted revenue to AUD 118.5 million.
  • Cogstate started 90 new trials in FY26, signaling strong sponsor demand and backlog conversion.

What critics are saying

  • Healthcare revenue from Eisai rolls off over coming years, shrinking a non-trial income stream.
  • FY26 revenue missed market expectations by 49.8%, exposing timing risk in contract conversion.
  • A failed CNS-platform standard battle against Medidata and larger CRO stacks would crush pricing power.

What makes Cogstate unique

  • Cogstate owns validated digital cognitive endpoints used in regulated CNS trials worldwide.
  • Medidata partnership deepens Cogstate's workflow lock-in across eCOA, rater training, and data quality.
  • Eisai distribution deal preserves healthcare reach while Cogstate retains independent clinical-trials execution.

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Benefits

Remote Work Options

Generous Paid Time-off

401(k) Matching

Health, Dental & Vision Coverage

Short-Term & Long Term Disability Life Insurance

Pre-Tax Benefits

Learning & Development Opportunities

Stock Price

Growth & Insights and Company News

Headcount

6 month growth

1%

1 year growth

1%

2 year growth

1%
Yahoo Finance
Aug 20th, 2026
Cogstate revenue hits $61M as new contracts surge 116% to $89M

Cogstate reported record financial results for FY 2026, with revenue growing 15% year-over-year to nearly $61 million. The company's profit before tax increased 16%, while net profit after tax rose 17%. New sales contracts totalled $89 million, up 116% year-over-year. The company initiated 90 new trials during the year, compared to 35 in FY25, and is now managing 171 active clinical trials. Revenue from mood, sleep, and other neurological disorders grew 148% year-over-year, representing 30% of total revenue. Contracted future revenue reached a record $118.5 million, with $48.3 million expected to be recognised in FY27, up 54%. The company ended the year with nearly $35 million in cash and no debt. It declared a dividend of $0.04 per share, double the previous year's payout.

Yahoo Finance
Jun 10th, 2026
Australian penny stocks show resilience amid recession concerns in June 2026

Cogstate, a neuroscience solutions company developing digital brain health assessments, stands out amongst Australian penny stocks with a market capitalisation of A$442 million. The company generates revenue primarily from its Clinical Trials segment at $53.59 million and Healthcare segment at $2.48 million. Cogstate demonstrates strong financial health with short-term assets exceeding liabilities and zero debt. Earnings grew 46.7% over the past year, outpacing industry averages. The company recently expanded sales contracts in Psychiatry and Narcolepsy sectors, potentially boosting future revenue. Boom Logistics, offering lifting solutions across mining and infrastructure sectors, has a market cap of A$74.16 million and generates A$275.08 million in revenue. Whilst it holds more cash than debt, forecast earnings growth stands at 20.96% annually.

Yahoo Finance
May 24th, 2026
Australian stocks may offer value with Cogstate trading 49% below estimates

Electro Optic Systems Holdings is trading at A$8.88, well below its estimated fair value of A$17.63 based on cash flows, suggesting potential undervaluation. The company develops and manufactures telescopes, laser satellite tracking systems and defence equipment, with revenue segments comprising Space (A$12.66 million) and Defence (A$115.80 million). The broader Australian market shows cautious optimism, with ASX futures indicating a 0.5% rise driven by oil and gold price movements. A screener identified 38 ASX stocks potentially trading below fair value based on cash flows, including Cogstate, whose earnings are forecast to grow 24.5% annually, significantly outpacing the Australian market's 11.9% growth rate. These opportunities emerge as investors monitor global developments, including potential Trump-Iran peace talks.

Yahoo Finance
Jan 19th, 2026
Cogstate grows EPS 11% annually as EBIT margins expand from 14% to 25%

Cogstate, an ASX-listed technology company, has attracted investor attention due to its profitability and growth trajectory. Over the past three years, the company has grown earnings per share by 11% annually, whilst EBIT margins improved from 14% to 25% alongside revenue growth. The company's performance stands in contrast to loss-making speculative investments, offering a more traditional investment opportunity based on proven profitability. Cogstate's financial sustainability and consistent earnings growth demonstrate its ability to generate returns without the heightened risks associated with pre-revenue companies. Investors are also monitoring insider activity, as insider buying often signals confidence in future share price performance, though this indicator alone does not guarantee success.

Cogstate
Aug 18th, 2025
Cogstate Bolsters Mood Disorder Expertise, Welcoming Dr. Luka Lucić as Senior Director of Clinical Science in Psychiatry

New Haven, CT - August 18, 2025 - Cogstate, a leading neuroscience technology company, today announced the appointment of Luka Lucić, PhD, as Senior Director, Clinical Science, Psychiatry.

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