PharmX Technologies (PHX) H2 2025 earnings summary

Executive summary

• FY 2025 saw a 13% increase in total revenue to AUD 7.53 million, with strong growth in both gateway and marketplace segments, and a positive EBITDA of AUD 1.61 million despite increased investment in people and technology.

• Marketplace revenues nearly tripled year-over-year, and gross margin improved to 82%.

• Gross transaction volumes rose 18% year-over-year, and volumes-based ARR increased 20%, reflecting robust platform activity and strategic execution.

• The business expanded its supplier network by 16%, completed integrations with key partners, and secured 99% coverage of the New Zealand market.

• Operational improvements included early termination of revenue share agreements, team restructuring, and the launch of new supplier and pharmacy portals, analytics, and e-commerce platforms.

Financial highlights

• Revenue reached AUD 7.53 million, up 13% year-over-year, with gateway revenues up 11% and marketplace revenues up 193%.

• Operating costs increased to AUD 5.9 million, mainly due to investments in development, sales, marketing, and IT.

• EBITDA was AUD 1.61 million, down from AUD 1.8 million, reflecting higher investment; net loss after tax was AUD 264,000, a significant improvement from a AUD 1.8 million loss in the prior year.

• Receipts from customers rose 14% to AUD 8.09 million, and underlying operating cash flow was positive at AUD 902,000.

• Statutory operating cash flow showed an outflow of AUD 8.1 million, mainly due to a one-off legal settlement payment; year-end cash balance was AUD 4.2 million.

Outlook and guidance

• FY 2026 strategy focuses on finalizing a single platform, deepening partner relationships, expanding supplier numbers, and leveraging AI and automation for operational excellence.

• Marketplace is expected to be the main driver of revenue growth in FY 2026, with a new e-commerce platform launching in November.

• Increased investment planned in digital enablement and commercial resources to drive volume and engagement.

• Cost base will remain stable at current levels, with continued investment in product development and technology.

• No plans to diversify outside pharmacy; international expansion may be considered after achieving local targets.