Physitrack (PTRK) investor relations material

Executive summary

• Achieved profitability in Q1 2026 with net profit after tax of €58,000, reversing a €376,000 loss in Q1 2025.

• Revenue grew 3% year-on-year to €3.2 million, or 6% on a constant currency basis, with 96% from subscriptions.

• Lifecare ARR increased 5% YoY to €11.8m; ARPL up 9% YoY to €177.

• Wellness division returned to profitability with adjusted EBITDA of €117,000 and margin of 36% after restructuring.

• Major strategic focus on North America, with RTM platform ready for Q2 2026 commercial launch and OTCQX listing under evaluation.

Financial highlights

• Adjusted EBITDA was €1.1 million with a margin of 34%, down from 36% YoY due to planned investments.

• Free cash flow was €0.1 million, positive for the sixth consecutive quarter, despite higher CapEx for RTM development.

• SaaS gross margins remained strong at around 90%.

• Net debt stood at €3.5 million at 31 March 2026.

• Operating cash flow from continuing operations was €0.9 million.

Outlook and guidance

• RTM commercial launch in Q2 2026, with revenue impact expected to build over 12–18 months.

• Management expects margin recovery in H2 2026 as RTM investments convert to ARR growth.

• Targeting a doubling of the company in the medium term and EBITDA margin of 40%-45%.

• CapEx is expected to moderate in the second half of the year as RTM build completes.

• Strategic focus on accelerating US commercial momentum and advancing AI integration.