Adheris Health (AHE) H2 2025 earnings summary

Executive summary

• Revenue from continuing operations fell 36% year-over-year to $62.99 million, driven by US healthcare sector pressures and regulatory challenges.

• The Group reported a net loss after tax of $60.2 million, compared to a $0.8 million profit in the prior year, largely due to a $46.5 million impairment of US intangible assets.

• ANZ operations were sold post-period for $35 million plus an estimated $7.4 million earnout, enabling full debt repayment and a strategic focus on US operations.

• Cost reduction initiatives led to a 13% decrease in operating costs, aligning the business with expected revenue levels.

Financial highlights

• Revenue from continuing operations: $62.99 million (down from $98.4 million year-over-year).

• EBITDA from continuing operations: loss of $57.2 million (prior year profit of $3.2 million).

• Net loss after tax: $60.2 million (prior year profit of $0.8 million).

• Gross margin decreased to 52.3% from 54.4% year-over-year.

• Cash balance at year-end: $10.3 million (down from $15.6 million year-over-year).

• Net assets: $1.05 million (down from $51.6 million year-over-year).

Outlook and guidance

• Strategic review of US operations ongoing, with value-maximizing options expected to be assessed before the end of the next financial year.

• Directors withheld detailed forward-looking statements due to potential prejudice.