Adheris Health (AHE) Q3 2025 earnings summary

Executive summary

• Revenue and gross profit declined 49% and 52% year-over-year in 3Q FY25, mainly due to U.S. business headwinds.

• Strategic review process is ongoing, with strong interest in both Australian and U.S. businesses; expected to conclude by June 30.

• Raised $5 million in new equity post-quarter to support strategic and cost optimization initiatives.

• Leadership changes include the Chair stepping down and an interim Chair appointed.

Financial highlights

• Third-quarter transaction fee revenue in Australia rose 12% year-over-year.

• 72% of ANZ revenue is recurring, with a four-year CAGR of 22.6%.

• U.S. revenue guidance for 2H FY25 is $14–18 million; group revenue guidance is AUD 93–99 million.

Outlook and guidance

• No changes to FY25 guidance since April 1; group revenue expected at AUD 93–99 million.

• Forecasting 15% group revenue growth and margin expansion in FY26.

• 90% of the lower end of FY25 revenue guidance already contracted.