PharmX Technologies (PHX) H1 2026 earnings summary

Executive summary

• Revenue grew 3% year-over-year to $3.9 million in H1 FY26, with positive EBITDA of $0.5 million, despite a decrease from the prior period due to increased investment in development, IT, and marketing.

• Launched new Marketplace platform in November 2025, driving record GTV in December, strong pharmacy adoption, and rapid supplier integration.

• Established a multi-year strategic partnership with Sigma Chemist Warehouse, including a 10% equity stake, board representation, and pathway to 19.9% ownership.

• New Zealand operations expanded, with revenue up 54% year-over-year.

• Supplier network expanded by 8%, adding 19 new suppliers, including Kenvue, Essity, and Kimberly Clark NZ.

Financial highlights

• Revenue increased 3% year-over-year to $3.9 million; Marketplace revenue up 24%, Gateway revenue up 5%, and New Zealand revenue up 54%.

• Gross margin improved by 2 percentage points to 84%.

• EBITDA positive at $0.5 million, down from $1.1 million prior period due to growth investments; net loss after tax of $512,000 compared to a prior year profit.

• Operating costs rose to $3.4 million, driven by investment in development, sales, marketing, and IT.

• Cash position at period end was $3.2 million.

Outlook and guidance

• Strategic partnership with Sigma expected to accelerate platform strategy, New Zealand expansion, and international growth.

• Continued investment in technology, product development, and platform enhancements planned for H2 FY26.

• Focus on expanding supplier network, pharmacy engagement, and capturing up to 90% of pharmacy ordering flows through Marketplace.

• Anticipates continued revenue growth from customer base expansion and increased engagement.