Adheris Health (AHE) Q2 2026 TU earnings summary

Executive summary

• New CEO and Managing Director appointed, with a focus on stabilizing operations, reducing costs, and converting pipeline opportunities.

• Enhanced executive team, launched a new technology platform, and re-engaged former customers, adding over $25 million in win-back opportunities.

• Substantial cost-out program implemented to improve scalability and accelerate path to profitability.

Financial highlights

• Q2 FY26 operating revenue was $13.7m, down 45.8% year-over-year (Q2 FY25: $25.3m), mainly due to lower customer renewals, declining US vaccination rates, and smaller deal sizes.

• Gross profit fell to $6.5m, down 57.5% year-over-year (Q2 FY25: $15.3m); gross margin declined to 47.8% from 60.5%.

• Net operating cash outflow was $4.7m, compared to $0.7m outflow in the previous quarter.

• Net cash at period end was $8.1m; pro-forma cash position after a $6.1m holdback payment is $14.2m.

Outlook and guidance

• Full benefits of cost reduction initiatives expected by Q4 FY26, with staff costs projected to drop to ~$3.6m.

• Focus on diversifying revenue away from vaccines toward high-growth therapeutic areas and higher-margin digital solutions.

• Company expects sufficient funds for ongoing operations, supported by recent cash inflows and reduced spending.