PharmX Technologies (PHX) H1 2025 earnings summary

Executive summary

• Revenue increased 17% year-over-year for the half, reaching $3.77 million, driven by growth in supplier partners, account numbers, and strong platform volume increases across core and marketplace platforms.

• Expansion into New Zealand via a partnership with Toniq now provides 99% pharmacy coverage across ANZ, unlocking new supplier relationships and supporting a 55% increase in New Zealand supplier revenue.

• Early termination of the Alchemy revenue share agreement completed the acquisition of key intellectual property, reduced intangible assets by $824,000, and enabled a unified platform and brand.

• Launch of a new analytics platform and a refreshed brand identity to reinforce market leadership and customer confidence.

• New executive team and hires are fully embedded, accelerating business momentum and supporting growth initiatives.

Financial highlights

• Revenue from operations for the half year was $3.77 million, up 17% year-over-year, with Marketplace revenues up tenfold year-over-year.

• Net profit after tax was $155,000, a turnaround from a $1.73 million loss in the prior year.

• Total operating costs rose to $2.73 million, mainly due to increased investment in personnel, marketing, and IT.

• EBITDA was $1.04 million, steady compared to the prior period despite higher investment.

• Cash position at period end was $4.5 million, down from $13.1 million due to a $9.9 million legal settlement payment.

Outlook and guidance

• FY25 strategy focuses on increasing supplier numbers, pharmacy engagement, transaction volumes, and analytics capabilities, with continued investment in technology, people, and brand.

• Board approved investment in a new Supplier Portal to accelerate supplier onboarding and expand analytics and ordering services.

• Emphasis on system stability, security, and prudent cost controls to fund investments from cashflows.