PharmX Technologies (PHX) H2 2026 earnings summary

Executive summary

• FY26 revenue reached AUD 7.74 million, a 3% increase year-on-year, driven by strong Marketplace and Analytics growth, platform modernization, and strategic execution including the launch of the Marketplace platform and expansion of AI-enabled analytics capabilities.

• The company executed a strategic alliance with Sigma Healthcare, securing a five-year agreement, board representation, and a 10% equity stake, and expanded its leadership team to support future growth.

• Positive EBITDA of AUD 1.1 million, down from AUD 1.6 million in FY25, reflecting increased investment in people, marketing, technology, and the Marketplace launch.

• The business focused on modernizing its core platform, expanding its addressable market, and driving vertical integration through Gateway 5 and new EDI solutions.

• Strategic investments in AI, leadership, and platform modernization set the stage for future growth and value creation.

Financial highlights

• Total revenue for FY26 was AUD 7.74 million, a 3% increase year-on-year, with recurring revenue up 9% (5% net of distribution model changes).

• Marketplace commission revenue surged 73% year-on-year, New Zealand revenue grew 67%, and analytics revenue rose 25%.

• Gross margin improved to 84%, up from 82% in FY25, reflecting a shift to non-rebate revenue streams.

• EBITDA was positive at AUD 1.1 million, with an EBITDA margin of 14%.

• Operating costs rose to AUD 6.7 million, driven by investments in development, sales, marketing, and IT.

• Cash balance at year-end was AUD 2.6 million, with positive operating cash flow maintained.

• Net loss after tax (NPAT) was AUD (1.83) million, impacted by higher depreciation, amortization, and one-off costs.

Outlook and guidance

• FY27 priorities include margin expansion, improved commission mix, supplier and pharmacy growth on the Marketplace, and new revenue streams from marketing and advertising.

• The company targets a AUD 100 million GTV run rate within 12 months, with July 2026 GTV reaching AUD 4.7 million.

• Anticipates continued acceleration in Marketplace adoption and spend per pharmacy, supported by ongoing platform optimization and supplier expansion.

• Focus on scaling Marketplace, expanding margins, modernizing EDI services, and maximizing Sigma alliance opportunities.