ImExHS (IME) H2 2024 earnings summary

Executive summary

• Achieved FY24 revenue of $26.5m, up 34% year-over-year, with operations spanning 18 countries and over 500 sites.

• Operates cloud-based AI medical imaging software and radiology services outsourcing, focusing on democratizing access and global expansion.

• Major software development (New Value Proposition/Aquila) on track for release from end of Q1 2025.

• Focused on positive earnings, cashflow, and robust sales pipeline for both segments.

Financial highlights

• Revenue reached $26.5m, up 34% year-on-year and 27% on a constant currency basis.

• Annual recurring revenue (ARR) grew to $30.0m, a 20% year-on-year increase, with 59% of software ARR in hard currencies.

• Underlying EBITDA improved to $0.5m from $0.2m in FY23.

• 97% of total revenue is recurring, supporting a predictable revenue model.

• Net assets at $14.5m; closing cash balance of $2.1m as of Dec 31, 2024.

Outlook and guidance

• FY25 priorities include expanding software sales in Mexico and Latin America, optimizing radiology contracts, and launching new software.

• First half of FY25 will focus on sales and marketing investment; second half targets improved profitability and cash flow.

• Expects strong revenue growth and to be EBITDA and cash positive for FY25, with more specific guidance at half year.