Adheris Health (AHE) Q4 2026 earnings summary

Executive summary

• Revenue and profit declined year-over-year due to the lingering impact of a challenging pharma budget cycle in the prior period.

• Achieved cashflow break-even in Q4 FY26, as previously guided.

• Strong initial momentum with customers as they enter the next pharma budget cycle, with increased activity in brand planning and sales pipeline development.

Financial highlights

• Q4 FY26 revenue was $5.6 million, down 44.6% from $10.1 million in Q4 FY25.

• Gross profit for Q4 FY26 was $2.0 million, down from $4.3 million in Q4 FY25.

• Gross margin declined to 35.5% from 42.6% year-over-year, mainly due to fixed platform costs and product mix.

• Underlying product margin for Q4 FY26 was 47.6%, down 5.5 percentage points from the prior year.

• Net operating cash inflow of $0.2 million in Q4 FY26, a significant improvement from a $4.7 million outflow in Q3 FY26.

Outlook and guidance

• Sales team is focused on building a robust pipeline for the next pharma budget cycle, aiming to close opportunities over the next two quarters.

• Staff costs, including contractors and consultants, expected to stabilize at approximately $18.2 million in FY27, down from $34.0 million in FY25.