PharmX Technologies (PHX) Q1 2027 earnings summary

Executive summary

• Q1 FY27 revenue rose 9% YoY; volume-based fees reached 24% of recurring revenue YTD, up from 20% in FY26.

• The network connects more than 99% of ANZ pharmacies, approximately 7,000 stores, and facilitates A$26bn in annual volume.

• Strategy combines Gateway and Relay EDI with Marketplace and analytics, shifting revenue toward transaction volumes and subscriptions.

Financial highlights

• FY26 revenue was $7.74m, up 3% YoY; EBITDA was $1.1m, gross margin 84%, and June 2026 cash $2.6m.

• FY26 Gateway recurring revenue rose 8% and Marketplace recurring revenue 73% YoY; New Zealand recurring revenue rose 67%, excluding Gateway distribution-model changes.

• Q1 revenue increased 9% on the prior corresponding period; 24% of recurring revenue YTD was volume-based, versus 20% in FY26.

Outlook and guidance

• FY27 targets double-digit revenue growth and cash flow breakeven; more than 88% of total revenue is recurring or contracted, with margin expansion planned from FY28.

• Marketplace September GTV annualised to $83m against a $100m run-rate target by March 2027; a $1bn GTV pathway is based on participation and spend assumptions.

• FY27 priorities include scaling Marketplace, broadening Relay and Gateway uptake across ANZ, growing data and analytics revenue, and H2 hospital-ordering expansion.

• Marketplace product priorities include Smart Cart automation, mobile and at-shelf ordering, and head-office and representative controls.

• Sigma’s New Zealand rollout is projected to contribute A$700k ARR by year three.