Alcidion Group (ALC) Q3 2025 earnings summary

Executive summary

• Q3 saw record cash receipts of AUD 13.1 million and positive operating cash flow of AUD 2.5 million, a AUD 3.9 million improvement year-over-year.

• Major contract wins included North Cumbria for Miya Precision as an enterprise EPR platform (AUD 37.5 million over 10 years) and the first contract in Wales with Hywel Dda Health Board (AUD 5.5 million over 5 years).

• 91% of new sales TCV of AUD 48.8 million in Q3 were recurring product revenue, strengthening the recurring revenue base.

• Positive developments in both the U.K. and Australian markets, with a growing sales pipeline and market validation for patient flow solutions.

• Recurring revenue base supported by contract renewals and new wins in PCS, Patientrack, and Smartpage modules.

Financial highlights

• Q3 new sales TCV reached AUD 48.8 million, with AUD 11.5 million recognized as FY2025 revenue and the remainder as recurring revenue in future years.

• Q3 cash receipts were AUD 13.1 million, the strongest Q3 to date, and operating cash flow was positive at AUD 2.5 million.

• Cash balance at March 31 was AUD 10.2 million with no debt.

• Contracted revenue to be recognized through FY2025 stands at AUD 40.2 million.

• Payments to related parties totaled AUD 0.23 million in Q3, relating to director remuneration.

Outlook and guidance

• Upgraded FY2025 EBITDA guidance to at least AUD 3 million, expecting a record result and full-year cash flow positivity.

• Q4 is historically the strongest for cash collections, underpinned by a debt ledger of AUD 17.7 million, including North Cumbria invoicing.

• Revenue for FY2025 expected to be at least AUD 40.2 million.

• Continued optimism for U.K. EPR opportunities despite NHS England restructuring, with further digital optimization expected.

• Pipeline is larger than previous periods, with opportunities across Australia, New Zealand, and the U.K.