C

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.

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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 & AnalyticsConsultingEnterprise SoftwareHealthcare

Company Size

201-500

Company Stage

IPO

Headquarters

Australia

Founded

1999

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Simplify's Take

What believers are saying

  • August 2026 FY26 revenue hit US$60.9 million, up 15%, with 25% EBIT margins.
  • New sales contracts reached US$89 million; FY27 contracted revenue already exceeded US$48 million.
  • XPRIZE Healthspan picked Cogstate on August 27, 2026, validating its aging-cognition brand.

What critics are saying

  • Medidata produced half of channel revenue in FY26; partner drift would hit growth fast.
  • FY26 revenue recognition lagged bookings; slower trial starts push cash into FY27.
  • A CNS endpoint standard from competitors would obsolete Cogstate's premium pricing within years.

What makes Cogstate unique

  • Cogstate owns validated digital cognitive tests embedded in CNS drug trials worldwide.
  • FY26 delivered 171 active studies, showing hard-to-replace workflow integration.
  • Medidata partnership expands distribution without building a large direct sales force.

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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%
Kalkine Media
Oct 14th, 2026
Cogstate Ltd conducts 2026 AGM, welcomes Darryl Inns to board of directors.

Cogstate Ltd conducts 2026 AGM, welcomes Darryl Inns to board of directors. Cogstate Ltd (ASX:CGS), a leader in neuroscience technology, held its 2026 Annual General Meeting on 15 October 2026. Chairman Martyn Myer addressed shareholders, introduced the company's board members, and highlighted the election of Darryl Inns as an Independent Non-Executive Director, which was presented as a resolution during the meeting. Key points. * Cogstate's 2026 Annual General Meeting took place on 15 October 2026, with Chairman Martyn Myer delivering the shareholder address. * Darryl Inns was appointed to the Cogstate Board as an Independent Non-Executive Director, with his election detailed as resolution 2. * Since 1 January 2026, Kim Wenn has chaired both the Nomination Committee and the Remuneration Committee. * Kylee Byrne from Pitcher Partners, the engagement partner for the external audit, attended the meeting to answer shareholder inquiries about the audit and financial statements. * CEO Brad O'Connor, who has led Cogstate since December 2005, also spoke at the meeting. Introduction of board members at the 2026 AGM. Chairman Martyn Myer commenced the meeting by presenting the Cogstate board. Richard Mohs, a neuropsychologist and former Eli Lilly executive, joined remotely from Chicago, contributing expertise in Alzheimer's disease, neuroscience, clinical trials, and pharmaceutical management. Ingrid Player, with a legal background and extensive experience in corporate governance, risk, and sustainability, chairs the Audit, Risk and Compliance Committee. Kim Wenn, boasting over 30 years in innovation and digital technology, has chaired the Nomination and Remuneration Committees since 1 January 2026. Managing Director and CEO Brad O'Connor also addressed attendees. Appointment of Darryl Inns as Independent Non-Executive Director. During the AGM, Chairman Myer officially welcomed Darryl Inns to the Cogstate Board as an Independent Non-Executive Director. According to company filings, Inns brings more than 30 years of expertise in finance, commercial operations, and governance, including experience with ASX-listed companies, capital markets, investor relations, and business transformation. His election was listed as resolution 2 of the 2026 AGM. Inns also serves on the Audit, Risk and Compliance Committee and the Nomination Committee. External auditor participation and FY26 highlights. Kylee Byrne from Pitcher Partners, the engagement partner for Cogstate's external audit, was present at the meeting to address shareholder questions regarding the audit and financial accounts. In his remarks, Chairman Myer characterized FY26 as a year in which Cogstate accelerated its momentum and expanded its opportunities, emphasizing the company's solid foundation for disciplined growth. The filing confirms the address was authorized for release by the Cogstate Ltd Board.

Stockhead
Oct 12th, 2026
Health Check: Aged care operator Ryman unfazed by 'soft' housing conditions.

Health Check: Aged care operator Ryman unfazed by 'soft' housing conditions. * Trans-Tasman provider Ryman reports strong demand for retirement units and aged care beds * Cogstate rides interest in dementia and depression trial activity * Post Symphony trial, Aroa orchestrates deeper US sales effort Traditionally, there's a strong nexus between housing values and demand for - and valuations of - private sector aged-care accommodation. That makes sense, because the residents typically use the funds from their family home to finance the transition. But in a trading update today, trans-Tasman operator Ryman Healthcare (ASX:RYM) said the "soft" housing market had not dented demand on both sides of the ditch. Ryman is the biggest NZ provider and is expanding in Victoria, which unfairly or otherwise has become synonymous with the term 'basket case'. "While housing market conditions continue to be soft, demand for retirement living, assisted living and aged care remains resilient across New Zealand and Australia," Ryman CEO Naomi Jones said. This reflected "structural demographic drivers that are less dependent on housing market conditions." Ryman reports that new customers signed up for 379 retirement living occupation right agreements in the quarter. These included 312 resales - up 14% year-on-year and the highest level in eight quarters - and 67 new sales. A lead indicator of future sales, Ryman's net resales contract volumes of retirement units rose 11% year on year. This followed a 7% increase in the first (June) quarter. Ryman's unsold retirement living apartments fell by 67 to 347, bringing the total reduction since March 31, 2026 to 132 units. With the company's new Richard Hadlee Village in Christchurch opening the batting this month, Ryman remains on track to deliver on its full-year guidance of 157-169 new retirement units and aged care beds. On the aged care side, Ryman's occupancy rose 3.3 percentage points, to 94%. However, mature aged care centre occupancies dipped to 95.4% from 95.7% previously, "reflecting a more acute period of winter illness in some New Zealand villages". Stockhead think Stockhead know what they're getting at. Meanwhile Regis Healthcare (ASX:REG), the biggest ASX-listed aged care operator holds its AGM on November 17. Testing times for Cogstate - in a good way. CogState (ASX:CGS) is surfing the increased number of clinical studies in Alzheimer's disease/dementia and depression/mood disorders. Via self-administered tests, Cogstate seeks to provide doctors and patients with "brief, accurate and scientifically validated digital measures of cognition". Ahead of Cogstate's October 15 AGM, the company reports net sales contracts of US$25.1 million ($36m) for the quarter, 17% higher year-on-year and 120% better over the last two years. According to management, this also reflects Cogstate's ability to win market share in mood disorders. During the period the company added five phase III trials in either bipolar or depression, across two customers. These clients contributed more than 80% of the new total contract sales value during the quarter. "[Trial] sponsors commonly retain providers from earlier phases of development when progressing to phase III studies," Cogstate says. By enabling trial sponsors to work with their preferred data capture and clinical technology providers, "Cogstate was able to secure work that may historically have been more difficult to win independently". At September's end Cogstate's contracted revenue stood at $56.8m, compared with $48.3m at the end of the June quarter. Cogstate recognises revenue over the life of the contracts. These vary from several months for a phase I study, to 4-5 years for a phase III effort. Diabetic foot ulcer results 'future proof' Aroa. Aroa Biosurgery (ASX:ARX) CEO Dr Brian Ward says the results of a clinical trial of the company's Symphony wound care product will help to "future proof" it amid a US reimbursement crackdown. Last Monday Aroa said the diabetic foot ulcer (DFU) study resulted in a statistically significant improvement in wound healing times for the difficult condition. During an investor webinar today, Ward said Aroa would use the results to increase take-up of the product - a novel extracellular matrix - by US clinicians. He noted the Centers for Medicare and Medicaid Services (CMS) had been carrying out more rigorous audits. In January CMS changed reimbursement to a flat rate, from a scale that encouraged clinicians to use the most expensive products. This resulted in a sector shakeout. Symphony already is covered by transitional reimbursement measures. "With more of a spotlight on the selection of treatments and why physicians are choosing particular treatments, having robust data that stands behind the product is becoming increasingly important," Ward said. "We are very well positioned now to defend the product and to show why Symphony should be selected." Enrolling 143 patients across 10 US sites, the randomised controlled study tested Symphony combined with the standard of care (SOC), versus a SOC-alone cohort. The trial found that 55% of DFUs from the Symphony arm achieved wound closure within 12 weeks. This compared to 35% for the SOC arm. The Symphony-treated wounds took a mean 65.4 days to heal, compared to 73.2 days for the SOC cohort. The trial included a mix of patients with DFUs of grades one and two on the Wagner measurement scale. Other studies typically only include the less serious Wagner ones, so no-one can accuse Aroa of grasping only the low-hanging fruit. CSL has come to suck more blood. CSL (ASX:CSL) has surprised the market by adopting a new plasma collection technique to improve the efficiency of its US blood centres. The company will transition from the Florida-based Terumo Blood Cell Technologies CT Inc's Rika's platform, to the Boston-based Haemonetics Corp. So, a win for the Democrats heartland over the Republicans base. Could that be an omen ahead of the mid-terms? Back in 2018, CSL said the Rika devices would enable more efficient delivery, by way of better yields and quicker extraction. Management has talked up Rika's advantages ever since - but nothing stands still. "We understand the Rika benefits were real, but CSL is seeking another step up in yield from Haemonetics' system," broker Citi says. "We do not know if termination arrangements for Rika involve payment from CSL or details of the implementation." Paradigm cites US data gap for study flop. Stockhead suspect this is academic now, but Paradigm Biopharmaceuticals (ASX:PAR) says the missing data that kyboshed its phase III knee osteoarthritis trial was tilted to its US study sites. Last month the company cancelled the 538-patient study, after an interim analysis found it did not reach the "pre-specific threshold" to continue. On September 30 Paradigm entered voluntary administration. On Friday the company said the most important missing data was "more frequent at the US sites". The company's initial observations of data from its non-US sites "appear encouraging". These sites were in Australia, Moldova and Hong Kong. While this might raise expectations that something can be salvaged from the effort, the company said these internal observations "do not change the previously announced decision that the phase III trial will not proceed". Paradigm has commissioned an independent post mortem, which may draw different conclusions. Paradigm shares are suspended indefinitely. At Stockhead Stockhead tell it as it is. While Aroa is a Stockhead advertiser, the company did not sponsor this article. Investor Guide: Health & Biotech 2026 featuring Tim Boreham

Cogstate
Aug 27th, 2026
Cogstate selected to measure cognitive function in XPRIZE Healthspan competition to revolutionize healthy aging.

Cogstate selected to measure cognitive function in XPRIZE Healthspan competition to revolutionize healthy aging. August 27, 2026 Melbourne, AUS & New Haven, USA - August 27, 2026 - Neuroscience technology company Cogstate Ltd. today announced their collaboration with XPRIZE to support cognitive measurement in the XPRIZE Healthspan competition, a 7-year, $101 million global competition designed to revolutionize human aging by restoring muscle, cognitive, and immune function. Through its role as the cognitive measurement partner for XPRIZE Healthspan, Cogstate will provide objective measures of cognitive performance to track competitors' progress, joining the Alzheimer's Association and a growing community of partners committed to advancing scientific discovery and extending healthy aging. As populations around the world continue to age, extending years of life alone is no longer enough. The growing priority is to increase healthspan - the number of years people remain physically, cognitively and socially healthy and independent. Achieving this goal will require innovative approaches to measuring and preserving health across multiple domains, including cognition, one of the most meaningful indicators of healthy aging and day-to-day function. XPRIZE Healthspan is a 7-year global competition incentivizing teams to develop and test therapeutics that restore muscle, cognition, and immune function to extend healthy life in adults aged 50-90 by a minimum of 10 years, with an ambitious goal of 20 years, within one year or less of treatment. "We are honored to have been selected to support the XPRIZE Healthspan competition and collaborate with fellow innovators to advance scientific discovery and help people live healthier, more independent lives as they age," said Brad O'Connor, CEO of Cogstate. "Cogstate has long been a leader in the use of digital technologies to measure cognitive function with precision and sensitivity, supporting the development of new therapies and advancing our understanding of brain health." "Cognitive function is fundamental to how we experience healthy aging, but measuring meaningful changes in cognition requires rigor and consistency," said Jamie Justice, PhD, Executive Director of XPRIZE Healthspan. "Cogstate's digitally validated assessments, extensive normative benchmarks, and real-world experience across millions of tests make it uniquely positioned to define what healthy cognitive aging looks like as part of the Healthspan competition." About Cogstate Cogstate Ltd (ASX:CGS) Cogstate is an innovative global neuroscience endpoint company that specializes in the science and service of CNS measurement to ensure clinical trial data is as accurate as it is actionable. Cogstate's high-tech, high-touch solutions - including fit-for-purpose data quality programs, advanced analytics, and digital cognitive assessment - combine clinical understanding with operational expertise to identify meaningful signals and drive informed study decision making. For more than 25 years, Cogstate has formed lasting, mission-aligned partnerships with drug developers to power complex neuroscience studies and accelerate the next generation of CNS therapies. Cogstate Ltd is a public company, listed on the Australian stock exchange (ASX:CGS). About XPRIZE XPRIZE is the recognized global leader in designing and executing large-scale competitions to solve humanity's greatest challenges. For over 30 years, its unique model has democratized crowd-sourced innovation and scientifically scalable solutions that accelerate a more equitable and abundant future. Donate, learn more, and co-architect a world of abundance with Cogstate Ltd. at xprize.org. (C) 2026 Cogstate Ltd. Cogstate acknowledges Aboriginal and Torres Strait Islander people as the Traditional Custodians of the lands where many of its team members live and work. Cogstate Ltd. pay respect to their Elders past and present. Cogstate Ltd. use cookies to analyze its website traffic and to support technical features that enhance your user experience. Read its Privacy and Cookie Policies to learn more about how Cogstate Ltd. use cookies.

Blake Industry and Market Analysis Pty Ltd
Aug 24th, 2026
'Landmark year' for Cogstate.

'Landmark year' for Cogstate. Cogstate CEO Brad O'Connor said that it has been a landmark year for the company (CGS: $3.10). The company has been able to diversify away from its reliance on the field of Alzheimer's disease (accounting for just 14% of revenue) and has been able to expand the quantity of work through its channel partners. In a strategy that was put in place five years ago, O'Connor said that it is now bearing fruit. Sales (contracts signed) for the year were US$89 million which was up 116% on the PCP. Forty percent of this came from the company's channel partners, including its largest partner Medidata. This compares to just US$1 million of sales from channel partners in FY2025. The partnership with Medidata, signed in October 2024, has taken some time to develop, with Medidata making up half of the channel partner revenue. The investment of expansion into other areas such as mood/sleep/other neurology, and in rare diseases is now paying off, representing 46% and 33% of new contracts signed respectively in FY2026. Whilst the level of revenue from Alzheimer's disease is lower, the company remains very optimistic of the future revenue potential from this area of drug development. The company is currently managing 171 studies for its pharmaceutical and biotech customers, up from 110 a year ago. Its gross profit margin for the year was 58%, which is expected to grow with revenue. O'Connor said the business has reached a position where there is "exceptional leverage over operating costs" as revenue grows. The group revenue for the year was US$60.9 million with a profit before tax of US$16.1 million and profit after tax of US$11.9 million. The company will pay a $0.04 dividend, with a cash balance at the end of June of US$34.8 million. Outlook For the year ahead, Cogstate has US$46.1 million of revenue secured for this year from its clinical trials business, and US$29.1 million of revenue booked for FY2028. Based on the performance last year, Bioshares estimates revenue of US$80 million for this year, if similar levels of sales contracts can be signed. The company continues to see high levels of sales opportunities. O'Connor said that the FY2026 results are "just the start for our business." Bioshares recommendation: Hold Disclaimer: Information contained in this newsletter is not a complete analysis of every material fact respecting any company, industry or security. The opinions and estimates herein expressed represent the current judgement of the publisher and are subject to change. Blake Industry and Market Analysis Pty Ltd (BIMA) and any of their associates, officers or staff may have interests in securities referred to herein (Corporations Law s.849). Details contained herein have been prepared for general circulation and do not have regard to any person's or company's investment objectives, financial situation and particular needs. Accordingly, no recipients should rely on any recommendation (whether express or implied) contained in this document without consulting their investment adviser (Corporations Law s.851). The persons involved in or responsible for the preparation and publication of this report believe the information herein is accurate but no warranty of accuracy is given and persons seeking to rely on information provided herein should make their own independent enquiries. Details contained herein have been issued on the basis they are only for the particular person or company to whom they have been provided by Blake Industry and Market Analysis Pty Ltd. The Directors and/or associates declare interests in the following ASX Healthcare and Biotechnology sector securities: Analyst MP: 1AD, ACR, AVR, CGS, CUV, CYC, DXB, IMM, LBT, MX1, OPT, NEU, PAB, PXS,RNO,SOM. These interests can change at any time and are not additional recommendations. Holdings in stocks valued at less than $100 are not disclosed.

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.

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