Third Age Health Services (TAH) H2 2025 earnings summary

Executive summary

• Expanded national footprint and market share, now serving 17% of New Zealand's ARC population and 90 ARC facilities.

• Combined enrolled patient population across ARC and general practice grew by 3%.

• Clinical team increased by 29% to 112 clinicians, representing 72% of the total workforce.

Financial highlights

• Revenue rose 26% year-over-year to $19.081m, with ARC contributing $3.5m of the increase and General Practice $0.4m.

• Underlying NPATA grew 69% to $2.886m, with ARC up 50.7% to $2.01m and General Practice up 135% to $0.87m.

• Statutory NPAT increased 79.2% to $2.478m year-over-year.

• Cash and cash equivalents rose to $2.594m, supported by $3.701m in positive operating cash flow.

• Ordinary dividends per share totaled 14.71 cents for FY25.

Outlook and guidance

• Continued focus on expanding ARC and general practice patient base and clinical team.