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Physitrack (PTRK) investor relations material
Physitrack Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 delivered strong profitability and cash flow, with free cash flow at €0.4 million, marking a 200% year-on-year improvement and the fourth consecutive quarter of positive cash generation.
Pro forma revenue grew 6% year-over-year to €3.5 million, with constant-currency growth at 9%, driven by SaaS momentum and disciplined execution.
Subscription (SaaS) revenue reached a record 88% of total, providing stability and predictability.
Lifecare division drove group performance, accounting for 80% of revenue, while Wellness was streamlined for focus and profitability.
Strategic restructuring and operational optimization, including AI tool adoption, enabled innovation and efficiency without increasing team size.
Financial highlights
Group revenue for Q3 was €3.5 million, up 6% year-over-year (9% constant currency), with annualized revenue at €14.2 million.
Adjusted EBITDA margin reached 33%, with adjusted EBITDA at €1.2 million, up 25% year-over-year.
Adjusted EBITDA less CapEx was €0.4 million (11% margin), up 297% year-over-year.
Four consecutive quarters of positive free cash flow, with €1.8 million generated year-to-date.
Free cash flow for Q3 2025 was €0.4 million, compared to -€0.4 million in Q3 2024.
Outlook and guidance
Medium-term target is to double revenue, with group EBITDA margins aimed at 40-45%, in line with Lifecare.
ARR expected to stabilize in Q4 and return to growth in 2026 as new business sales ramp up.
Focus remains on scalable, high-quality growth, especially in North America and through large enterprise deals.
Continued investment in AI integration and automation to sustain innovation and margin improvement.
Capital discipline to ensure operating cash generation exceeds CapEx, with no planned CAPEX step-up in 2026.
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