Adheris Health (AHE) AGM 2024 summary

Opening remarks and agenda

• Chair welcomed attendees, acknowledged traditional land custodians, and outlined hybrid meeting format for equal participation in person and online.

• Voting and Q&A procedures were explained, with a poll for resolutions and multiple channels for questions.

• FY24 marked a period of transition, with a focus on strategic transformation and the pathway to inaugural profitability.

• The agenda included the Chair's and CEO's addresses, five resolutions, and general shareholder Q&A.

Financial performance review

• Revenue reached $122.1M, up 24.6% YoY, exceeding AUD 100 million for the first time, with inaugural profit achieved in FY24.

• Gross profit rose 24.9% to $74.2M; EBITDA improved by $10.1M to $7.0M.

• Cash position at June 30 was $15.6M, up $1.4M YoY; debt facility expanded at better rates to 2027.

• ANZ revenue grew 19.7% YoY to $23.7M; US revenue increased 26% YoY to $98.4M, with strong adoption of health programs and product innovation.

Board and executive committee updates

• Board underwent a refresh, with thanks to outgoing directors and recognition of their contributions.

• Board comprises Linda Jenkinson (Chair), Rick Ratliff (CEO), Jim Xenos, Sandra Hook, Lucas Merrow, Kate Hill, and Kevin Hutchinson.

• Executive team includes Rick Ratliff (CEO), Ancila Desai (CFO/CAO), Vinod Subramanian (COO), Brian Peterson (President-US), Wayne Marinoff (President-ANZ), and Sarah Sweeney (SVP Global Marketing).

• Board size and composition aligned with market cap and industry benchmarks.