Vitasora Health (VHL) Investor update summary

Operating model and capacity

• vCare and workflow redesign enabled coordinators to serve patients across clients; utilization reached 88.5% at the September exit, while other updates reported it routinely above 90% and regularly at 95%.

• All-care minutes rose from 2.9K per business day at vCare launch to 8.3K in September; late-September volume reached 10.5K, with peak days at 11K.

• September-quarter CCM care minutes were 339K, up 44% QoQ; enrolment activity was 1,596 for the quarter, including 796 in September, all from existing clients.

• Staffing was 32 productive and 39 employed coordinators; six more were due to start training, with plans for 48 by late Q4 2026 and 115 in Q1 2027 to support forecast patient volumes.

• Initial coordinator training takes four to five days; 75% of new hires reached full utilization within two weeks, while low performers were removed from the team.

Financial performance

• September-quarter estimated revenue was US$1.028m, up 38% QoQ from US$745K; growth was 24% excluding a US$105K one-off. Estimates are unaudited, non-IFRS and subject to reconciliation.

• Estimated FFS revenue was US$743K, up 32% QoQ; illustrative September exit quarterly rates were US$1.146m for FFS and US$1.327m including UPEC, not forecasts.

• September exit daily revenue was ~US$17.4K; early-October daily revenue exceeded US$20K. Management expected to reach the US$23K working-day billing benchmark in October and approach US$30K per day with 48 coordinators.

• Strategic U.S. business exit revenue was ~US$450K per month; monthly cash-flow break-even across the organization was estimated at ~US$650K, with UPEC call-center revenue below plan pending a contract.

• FY26 operating revenue was US$4.29m, audited.

Patient growth and break-even

• Existing clients were supplying patient lists, with thousands still to process; advanced discussions with new clients could add tens of thousands of Medicare patients.

• September-quarter care intensity was ~2.13 CPTs per qualifying patient, above the original ~2 CPT assumption; the target was three codes by early next year through stronger engagement and more CCM/RPM dual enrollment.

• At capacity, each coordinator was expected to generate ~$600 in daily revenue, with top performers above $800; adding six staff was expected to contribute another AUD 4,000 per day.

• Operational break-even was defined as estimated revenue plus UPEC covering U.S. operating costs, excluding the UPEC contract shortfall and Australian corporate costs; October-November was expected to bring break-even close.

• Priorities are adding productive coordinators, enrolling existing patients, launching new clients, increasing care and RPM activity per patient, and adding contracted volume to address the UPEC gap.