PharmX Technologies (PHX) H1 2025 earnings summary

Executive summary

• Revenue increased 17% year-over-year for H1 FY25, reaching $3.77 million, driven by growth in supplier partners, account numbers, and strong platform volume increases across Gateway and Marketplace.

• Strategic partnership with Toniq expanded reach to 99% of New Zealand pharmacies, unlocking new supplier relationships and supporting further growth.

• Early termination of the Alchemy revenue share agreement reduced liabilities by $0.8 million, completed the acquisition of key intellectual property, and enabled unified platform and brand integration.

• Significant investments in development, marketing, and IT infrastructure, including a rebranding initiative and launch of a new analytics platform, reinforced market leadership.

• New executive team and hires accelerated business momentum and supported operational improvements.

Financial highlights

• Revenue from operations for the half year was $3.77 million, up 17% year-over-year.

• Underlying EBITDA was $1.04 million, steady or down 3% year-over-year due to increased investment.

• Net profit after tax was $155,000, a turnaround from a $1.73 million loss in the prior period.

• Cash position at period end was $4.5 million, down from $13.1 million, mainly due to a $9.9 million legal settlement payment.

• Operating costs rose, driven by investment in personnel, marketing, rebranding, and IT.

Outlook and guidance

• Strategy focuses on expanding supplier participation, pharmacy engagement, transaction volumes, and analytics capabilities.

• Continued investment in technology, people, and brand, with costs projected to stabilize as efficiency improves.

• Board approved investment in a new Supplier Portal to accelerate onboarding and expand analytics and ordering services.

• Emphasis on system stability, security, and prudent cost controls to fund investments from cashflows.