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Physitrack
Physitrack (PTRK) investor relations material
Physitrack Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary27 Feb, 2026
Executive summary
2025 was a year of financial consolidation and portfolio simplification, with a focus on structural improvements, margin expansion, and profitability, resulting in a 21% year-on-year increase in adjusted EBITDA to €4.7m and a significant swing to positive free cash flow.
The business streamlined operations by exiting unprofitable and low-margin revenue streams, leading to a leaner SaaS model with 92% of Q4 revenue now subscription-based.
North America is a key growth focus, with dedicated teams and commercial acceleration efforts underway.
Completed major restructuring in Wellness, exited legacy contracts, and enhanced operational capabilities.
Exited 2025 with the strongest financial position to date, prioritizing growth acceleration and leveraging a unified SaaS platform.
Financial highlights
FY2025 pro forma revenue was €13.5m, broadly flat year-on-year, with reported revenue down 3% due to deliberate exits from non-core businesses.
Adjusted EBITDA margin reached 35% for the year, up 7 percentage points, with full-year adjusted EBITDA at €4.7m.
Free cash flow from continuing operations swung to €1.2m from negative values, a 318% year-on-year increase.
Subscription revenue accounted for 92% of Q4 revenue, up from 85% a year earlier.
Net loss after tax for the year was €8.7m, impacted by non-recurring restructuring and impairment charges.
Outlook and guidance
Management is confident in returning to stronger top-line growth, with a focus on North America, high-quality enterprise sales pipelines, and substantial deal opportunities.
Product unification and value expansion through integration of Physicourses into the core platform.
Medium-term targets include doubling revenue and achieving a 40-45% EBITDA margin.
Explain FY25 net loss after tax
North America revenue contribution?
Address Wellness NRR decline and CLTV drop
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Next Physitrack earnings date
Q1 202623 Apr, 2026
Physitrack
Next Physitrack earnings date
Q1 202623 Apr, 2026
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Frequently asked questions
Physitrack PLC, operates as a digital healthcare provider worldwide. The company operates its business through the following segments: Health Advocacy, Physiotherapy and Rehabilitation, and Software-as-a-Service (SaaS). The Health Advocacy segment provides an eHealth platform that includes a Web application and an Android application to deliver exercise and health programs. The Physiotherapy and Rehabilitation segment offers physiotherapy solutions through clinics and via the Internet. The SaaS segment provides health promotion, activity management, disease management, clinical assessment and diagnosis applications designed for clinicians. Physitrack PLC is headquartered in London, the United Kingdom.
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