Cogstate (CGS: $2.28) has been a strong performing stock in 2025, with its share price up 117% for the year. This has been the result of continued strong contract sales translating into strong growth in the bottom line.

The company's share price recently retracted when it announced some slippage of revenue recognition in the current half year period to the next half. However it has recently resumed its share buy back around $2.20 per share.

In the current half year, the company expects to sign sales contracts worth US$37 - US$40 million, which will be an 82% - 97% increase over the previous corresponding period. Revenue for the period, which is trailing the near record sales, is expected to be between US$25-US$26 million for this half year.

A pleasing aspect of the business is its increasing durability, with less reliance on large contracts. In the current half, the largest contract signed is valued at US$6 million.

The company is forming a very strong alliance with the major data analytics company Medidata. Cogstate has five channel partners. According to the company: "Cogstate's future has never looked brighter. We are seeing a record level of opportunities from an expanded customer base and across more indications….."

In FY2025 Cogstate recorded revenue of US$53 million, up 22%. However it was the growth in net profit that pleased investors, up 84% to US$10.1 million. The company also paid its first dividend to shareholders this year.

Cogstate is capitalized at $390 million.