ImExHS (IME) Q3 2025 TU earnings summary

Executive summary

• Achieved a financial turning point in Q3 FY25, focusing on execution for the next growth phase and scaling the AQUILA+ software platform.

• Operates two complementary businesses: cloud-native medical imaging software (SaaS, RIS, PACS, AI) and radiology services, primarily in Colombia.

• Company-wide transformation over two years improved leadership, processes, and systems, driving better service and lower costs.

• 8.9M imaging studies per year, 6.3M patient portal users, 3.4K monthly specialist users, 26 partners, and a Net Promoter Score of 58.

• Working capital and liquidity remain stable despite sector-wide payment pressures in Colombia.

Financial highlights

• Q3 FY25 revenue was $7.2m, up 9% year-over-year and 3% on a constant currency basis.

• Group ARR reached $36.4m as of September 30, up 24% year-over-year and 11% since June 30.

• Software ARR was $11.7m, a 2% decrease from June 30, attributed to volume shifts and prior over-estimation, with a strengthened pipeline.

• Radiology Services ARR rose to $24.7m, up 18% from June 30, driven by contract wins and portfolio actions.

• Q3 receipts totaled $7.9m; operating cash flow was positive at $1.2m; quarter-end cash was $3.0m; debt reduced to $1.0m.

Outlook and guidance

• FY25 revenue guidance reconfirmed at $27.5m–$28.2m (up 4.0%–6.6% year-over-year); underlying EBITDA guidance at $1.3m–$1.6m (vs $0.5m prior year).

• Focused on scaling software, expanding AQUILA+ and enterprise cloud, and leveraging a balanced mix of direct and partner sales.

• Margin expansion targeted through cost savings, AI-driven workflows, revised pricing, and disciplined portfolio management.

• Working capital discipline maintained amid Colombia policy challenges.