Vitasora Health (VHL) Q2 2026 TU earnings summary

Executive summary

• Daily clinical billing productivity rose 22% quarter-on-quarter and over 50% above September 2025 levels by January 2026, reflecting platform and workflow improvements and higher patient engagement.

• Operating revenue reached A$1.25 million, up 17% sequentially and 136% year-over-year, despite fewer billing days due to seasonal holidays.

• Active patient programs increased to 22,880, driven by new enrolments in key U.S. programs.

Financial highlights

• Net operating cash outflows were A$3.5 million, a 28% improvement from the prior quarter, aided by cost discipline and an R&D tax incentive refund.

• Excluding one-off items, net operating cash outflows were A$2.1 million, with an average monthly net cash burn of A$0.72 million over six months.

• Cash receipts from customers were A$0.63 million for the quarter.

• Cash and cash equivalents at quarter end were A$3.1 million.

Outlook and guidance

• CMS CPT code changes effective January 2026 are expected to deliver a 10–20% revenue uplift in 2026 without increasing clinical workload.

• The company anticipates continued operational momentum and multiple growth levers entering 2026, supported by new contracts and expanded reimbursement opportunities.