HITIQ Limited Company Profile

Background

HITIQ Limited is an Australian-based company specializing in concussion management technologies. The company's mission is to enhance athlete safety through innovative solutions that monitor, detect, and manage sports-related head impacts. HITIQ's vision is to become a global leader in brain care solutions, leveraging advanced technologies to mitigate the risks associated with concussions in sports. Operating within the healthcare technology sector, HITIQ has established itself as a significant player by collaborating with major sports organizations and developing products that address critical health concerns in athletics.

Key Strategic Focus

HITIQ's strategic focus centers on expanding its presence in the consumer market, particularly targeting amateur and community-level athletes across various sports. This shift complements its existing engagements in professional sports and aims to address the growing demand for accessible concussion management solutions. The company's core objectives include:

Product Development: Introducing the HITIQ PROTEQT system, a smart mouthguard designed for real-time impact detection and concussion management, tailored for the consumer market.

Market Expansion: Establishing partnerships with amateur sports organizations, such as the Victorian Amateur Football Association (VAFA), to promote the adoption of HITIQ's technologies at the grassroots level.

Technological Advancement: Continuously enhancing its proprietary technologies to provide accurate and reliable data for concussion assessment and management.

Financials and Funding

As of May 8, 2025, HITIQ's market capitalization stood at approximately AUD 7 million, with shares trading at AUD 0.021. The company has undertaken several funding initiatives to support its growth and strategic objectives:

Convertible Note Conversion: In early 2025, HITIQ's largest shareholder, Harmil Angel Investments, announced plans to convert AUD 1.6 million of convertible notes into ordinary shares at a premium conversion price, subject to regulatory approvals.

Capital Raising: In November 2022, HITIQ launched a renounceable rights issue to raise over AUD 6 million, offering 8 new shares for every 5 shares held by eligible shareholders at an issue price of AUD 0.03 per share. The funds were allocated towards intellectual property acquisitions, marketing, research and development, and working capital.

Pipeline Development

HITIQ's product pipeline includes several key offerings at various stages of development and commercialization:

HITIQ PROTEQT System: A smart mouthguard designed for the consumer market, providing real-time head impact monitoring and concussion management. The system integrates with a subscription model and offers telehealth support, aiming for broad adoption among amateur athletes.

Nexus A9 System: An advanced sensor-equipped mouthguard that records individual head impacts, with data uploaded to the Nexus Portal for analysis. This system is utilized in professional sports settings and is undergoing continuous enhancements.

CSX Platform: A concussion management platform that produces digital, shareable records for athlete care, facilitating streamlined communication among medical professionals.

CoVR: A virtual reality-based cognitive and oculomotor assessment platform designed to assist in the evaluation and rehabilitation of concussion-related impairments.

Technological Platform and Innovation

HITIQ's technological platform is distinguished by several proprietary technologies and scientific methodologies:

Smart Mouthguard Sensors: Embedded sensors within mouthguards that accurately detect and quantify head impacts, providing real-time data for immediate assessment.

AI-Enabled Data Analytics: Advanced algorithms analyze impact data to identify patterns and assess concussion risks, enhancing decision-making for medical professionals.

Virtual Reality Assessments: The CoVR platform utilizes VR technology to conduct cognitive and oculomotor assessments, offering immersive and objective evaluations of concussion symptoms.

Leadership Team

HITIQ's leadership team comprises experienced professionals with diverse backgrounds:

Earl Eddings: Executive Chairman. Eddings brings extensive experience in sports administration and corporate governance, guiding HITIQ's strategic direction and stakeholder engagement.

Michael Vegar: Managing Director & Chief Executive Officer. Vegar has a background in healthcare technology and has been instrumental in driving HITIQ's product development and market expansion initiatives.

Jennifer Tucker: Non-Executive Director. Appointed in February 2025, Tucker contributes expertise in corporate strategy and governance, supporting HITIQ's growth objectives.

Leadership Changes

In early 2025, HITIQ announced the appointment of Jennifer Tucker as a Non-Executive Director, effective February 1, 2025. This addition to the board aims to strengthen the company's strategic oversight and governance capabilities.

Competitor Profile

Market Insights and Dynamics

The global health information technologies market is experiencing significant growth, driven by increasing awareness of sports-related concussions and the demand for effective management solutions. The market encompasses various products and services, including impact detection devices, assessment tools, and rehabilitation platforms.

Competitor Analysis

HITIQ operates in a competitive landscape with several key players:

Prevent Biometrics: Specializes in head impact monitoring systems, offering mouthguard-based sensors that provide real-time data on head impacts.

X2 Biosystems: Develops wearable sensors and software solutions for concussion management, focusing on data collection and analysis to inform medical decisions.

Triax Technologies: Provides head impact monitoring systems for sports, utilizing sensor-equipped headbands and software platforms to track and manage head impacts.

Strategic Collaborations and Partnerships

HITIQ has established several strategic partnerships to enhance its market position and innovation capacity:

Victorian Amateur Football Association (VAFA): A three-year partnership naming HITIQ as the VAFA's 'Official Concussion Technology Partner,' facilitating the deployment of the HITIQ PROTEQT system across VAFA clubs.

World Rugby: HITIQ's mouthguard technology has met World Rugby's performance standards for instrumented mouthguards, enabling its use in rugby union matches worldwide.

Rugby League World Cup 2022: HITIQ provided concussion management services across the tournament, showcasing its technology to a global audience.

Operational Insights

HITIQ's strategic considerations include:

Market Positioning: By shifting focus to the consumer market, HITIQ aims to tap into a vast and accessible segment, addressing the needs of amateur athletes and community sports organizations.

Competitive Advantages: HITIQ's proprietary technologies, such as the smart mouthguard sensors and AI-enabled analytics, differentiate its offerings by providing accurate, real-time data and comprehensive concussion management solutions.

Strategic Opportunities and Future Directions

HITIQ's strategic roadmap includes:

Product Diversification: Expanding the product portfolio to include additional assessment and rehabilitation tools, catering to a broader range of sports and athlete needs.

Geographic Expansion: Entering new international markets, leveraging partnerships and regulatory approvals to establish a global presence.

Data Analytics Enhancement: Investing in advanced data analytics capabilities to provide deeper insights into concussion risks and management, supporting evidence-based decision-making for athletes and medical professionals.