ImExHS (IME) H1 2025 earnings summary

Executive summary

• Operates two segments: cloud-based medical imaging software and radiology services, with a focus on Colombia, Mexico, Spain, and broader LATAM, serving over 549 sites and processing 8.9 million imaging studies annually.

• Aquila Plus transitioned from planning to proof with new enterprise wins in Colombia and Mexico, contributing to ARR growth.

• Focus on democratizing access to medical imaging expertise, improving efficiency, and rapid product enhancements including AI-assisted reporting and academic search.

• Achieved ISO 27001 cybersecurity certification for Aquila+ and R&D process.

• Completed a $2.6m capital raise to support growth and liquidity.

Financial highlights

• Revenue for 1H FY25 was $13.7m, up 4% year-on-year (7% on constant currency), excluding one-offs.

• Annual Recurring Revenue (ARR) reached $32.8m, up 11% year-on-year.

• Underlying EBITDA was $0.3m, flat year-on-year; statutory loss after tax was $3.0m, impacted by a $1.7m goodwill impairment.

• Cash at period end was $2.5m, with debt at $1.3m; cash position improved to $13.7m after capital raise.

• No dividends declared or paid.

Outlook and guidance

• FY25 revenue guidance: $27.5m to $28.2m, up 4.0% to 6.6% year-on-year.

• Underlying EBITDA guidance: $1.3m to $1.6m, up from $0.5m in FY24.

• Strategic focus on accelerating Aquila Plus sales, regional consolidation, pricing optimization, and margin improvement.