Alcidion Group (ALC) H1 2026 earnings summary

Executive summary

• Achieved record H1 FY26 revenue of $25.5M (AUD 25.5M), up 44% year-over-year, driven by recurring revenue, major contract expansions, and new market progress in Canada and the Middle East.

• Underlying EBITDA reached $4.2M, a 675% increase year-over-year, with first-half NPAT turning positive at $1.3M.

• Annual Recurring Revenue (ARR) as of 31 December 2025 was $31.1M, up 9.1% from June 2025.

• Flagship Miya Precision platform expanded to over 400 hospitals, delivering real-time clinical decision support and operational efficiencies.

• Major contract expansions included Leidos Australia/ADF ($12.3M), North Cumbria ($6.8M), NHS Lanarkshire, and Bolton NHS Trust.

Financial highlights

• H1 FY26 revenue: $25.5M, up 44% year-over-year; ARR: $31.1M; gross margin: 83% (down from 87% due to higher third-party costs).

• Underlying EBITDA: $4.2M, up 675% year-over-year; NPAT: $1.3M, compared to a loss of $0.9M in H1 FY25.

• Operating cash outflow improved to $2.6M, a $1.7M improvement year-over-year.

• Cash balance of $14.2M and no debt as of 31 December 2025.

• Basic and diluted EPS was 0.10 cents, compared to a loss of 0.07 cents per share in the prior period.

Outlook and guidance

• FY26 revenue expected to exceed $50M, with EBITDA above $5M and positive operating cash flow.

• Contracted and renewal revenue for FY26 at $43.1M as of 31 Dec 2025, excluding potential UHSussex contract.

• UHSussex EPR contract expected to be signed by mid Q4 FY26, with anticipated upfront license fee.

• Gross margin expected to return to mid-to-high 80s in future years.

• Continued investment in product delivery, sales, and marketing to support deployment and pipeline conversion.