Micro-X accelerates commercialisation as sales take off

Cold cathode X-ray machinery manufacturer Micro-X has reported accelerating commercialisation and sales of its lightweight machines and progress on its R&D product development activities.

Until now Micro-X’s sales have disappointed considering the world-leading nature of its technologies which generate X-rays using a carbon nanotube array.

The company said that accelerated commercialisation followed its successful $5.9 million capital raise, and the appointment of 34 year sales veteran Scott Bryant as chief sales officer.

Micro-X reported full year product sales of $7 million, up 80 percent on the FY23 total of $3.9 million.

The sales pipeline for its Rover Mobile DR is building in elite sports applications and in Europe following European MDR medical device certification, according to the company.

During the quarter the company’s Checkpoints airport baggage scanner prototype was installed and is operating at a US Department of Homeland Security laboratory.

In March Micro-X received its first purchase order for an Argus X-ray camera unit which detects explosives devices from a defence and security entity in the Middle East.

And the company’s Head CT micro-CT scanner for detecting strokes at the point of care entered clinical trials in May.

Micro-X Chief Executive Officer Kingsley Hall said: “In the June quarter we focused on executing the commercial initiatives now funded through our recent capital raise – accelerating Argus activities to drive sales and adoption, as well as building engagement with strategic partners to work with us in bringing our Checkpoints and Head CT products into market.”

Hall said said the company recognised that investors were ‘eagerly awaiting’ Argus commercial traction, with the company shipping a further six demonstration units to potential customers for trials..

“But we identified a minor componentry issue, which while now resolved, delayed the initiative.

“With units now scheduled to go to customers in the US and across the globe, our sales team is actively booking in demonstrations and building the pipeline.”

Hall said the company sales enabled a reduction in Rover inventory by $2.4 million in the year.

“Our goal for FY25 is to keep delivering growth in Rover and adding Argus revenues to deliver on the huge potential of the Micro-X platform.”

Further reading:
Micro-X demonstrates micro-CT and passenger X-ray scanners
Micro-X miniature CT scanner to enter clinical trials

Picture: Micro-X/the Argus imager to detect explosives devices is mounted on the end of a robotic arm