PharmX Technologies (PHX) H2 2025 earnings summary

Executive summary

• FY25 revenue increased 13% to AUD 7.53 million, with strong growth in both Gateway and Marketplace segments, and positive EBITDA despite higher investment in people and technology.

• Marketplace revenues nearly tripled year-over-year, and gross margin improved to 82%.

• Expanded supplier network by 16% and total accounts by 7%, driving higher order flow and recurring revenue growth.

• Closed FY25 with $4.2 million in cash and positive underlying operating cash flows.

• Launched Supplier and Pharmacy Portals, major Marketplace updates, and an AI-powered Analytics Platform, supporting strategic growth initiatives.

Financial highlights

• Revenue reached AUD 7.53 million, up 13% year-over-year, with Gateway revenues up 11% and Marketplace revenues up 193%.

• EBITDA was AUD 1.6 million, down 13% from the prior year, reflecting increased investment.

• Gross margin improved by 1% to 82% year-over-year.

• Receipts from customers rose 14% to $8.09 million, and underlying operating cash flow was positive at AUD 902,000.

• Year-end cash balance was $4.2 million, supporting future growth investments.

Outlook and guidance

• FY26 strategy focuses on finalizing a single platform, expanding supplier numbers, deepening analytics, and leveraging AI and automation for operational excellence.

• Marketplace is expected to be the main driver of revenue growth in FY26, with a new e-commerce platform launching in November.

• Cost base will remain stable, with continued investment in product development and technology.

• No plans to diversify outside pharmacy; international expansion may be considered after achieving local targets.

• Positioned for sustained growth with a strong balance sheet and favorable market conditions.