Inventurus Knowledge Solutions (IKS) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 revenue was ₹15,924.78m, up 103.9% YoY; results included 82 days of TruBridge consolidation from its July 9, 2026 acquisition.

• Reported EBITDA was ₹4,415m and adjusted EBITDA ₹4,591m; adjusted PAT was ₹2,734m.

• Strategy focuses on AI-enabled healthcare workflow automation, installed-base cross-selling and operating-model transformation to improve margins.

Financial highlights

• Q2 revenue was ₹15,924.78m, up 103.9% YoY and 78.2% QoQ; USD revenue was $169m, up 87.3% YoY and 73.9% QoQ.

• Reported EBITDA was ₹4,415m, up 62.5% YoY; EBITDA excluding ESOP expense was ₹4,591m, up 63.2%.

• PAT attributable to shareholders was ₹2,176m, up 20.4% YoY; adjusted PAT was ₹2,734m, up 36.0%, excluding acquisition-related intangible amortization and ESOP cost net of tax.

• H1 FY27 revenue was ₹24,861.07m, up 63.4% YoY; reported EBITDA was ₹7,365m and PAT attributable to shareholders was ₹4,114m.

• Adjusted OCF was ₹3,934m, or 90% of EBITDA; reported cash flow reflected a ₹960m acquisition-related payment and a one-time ₹300m tax timing impact.

Outlook and guidance

• Legacy physician-group business is expected to grow faster than the cited 12% industry rate; management expects no significant net TruBridge growth in FY27, with early opportunities from FY28.

• Aspirations include 10%-12% growth in TruBridge system-of-action from late FY28 into FY29, while system-of-record is expected to remain relatively flat through FY28-FY29; these are not guidance.

• Three TruBridge EHR features—denial prediction and prevention, coding, and clinical productivity tools—are targeted by Q1 FY28; Project Endeavor is in development as an AI-native operating system.

• FY30 True North target remains ₹3,000 crore EBITDA, with a goal of near-zero net leverage; combined margins are expected to return to early-to-mid-30% levels, with timing uncertain.