Pro Medicus (PME) H1 2025 earnings summary

Executive summary

• Achieved record half-year results with net profit after tax of $51.74m, up 42.7% year-over-year, and revenue of $97.2m, up 31.1%, driven by strong North American growth and major new contracts and renewals, including Trinity Health, Lurie Children's Hospital, Duly Health and Care, and Mercy Health.

• Expanded global presence with key contracts in both public and private healthcare markets, and over 50% of top U.S. hospitals now use Visage 7.

• Maintained a debt-free position and increased cash and financial assets to $182.3m, up 17.7%.

• Continued innovation in cloud-based enterprise imaging, AI, and new product modules, with rapid implementation capabilities and strong market leadership.

• Declared a fully franked interim dividend of 25c per share, up 38.9%.

Financial highlights

• Revenue for HY 2025 reached $97.2m, up 31.1% year-over-year, with profit after tax rising 42.7% to $51.7m.

• Underlying EBIT increased 42.9% to $69.9m, with EBIT margins at 71.9%–72% for the half-year.

• Cash and financial assets totaled $182.3m, up 17.7% in six months.

• Interim fully franked dividend of $0.25 per share, up 38.9%.

• Earnings per share (basic) increased to 49.53c from 34.71c year-over-year.

Outlook and guidance

• Revenue growth expected to accelerate in the second half as new contracts and implementations contribute more fully, with major contracts like Trinity Health beginning revenue contribution in FY2026.

• Positioned for continued growth in FY25 and beyond, leveraging AI, cloud innovation, and expansion into new "ologies".

• Robust replenishment of sales pipeline and forward revenue visibility exceeding A$894m over five years.

• Margins expected to remain strong or expand, with operating leverage from scalable cloud-based model.

• Board believes cash reserves are sufficient to fund anticipated growth from internal sources.