Key points
- Revenue up 31.1% to $97.2 million
- Underlying profit before tax up 42.9% to $69.9 million
- Net profit up 42.7% to $51.7 million
- Margins improved to 72% from 66%
- Awarded $365 million in new contracts
Full summary
Pro Medicus Limited, a leading healthcare informatics company, has announced its interim results for the six months ended December 2024. The company reported a 31.1% increase in revenue from ordinary activities to $97.2 million, and a 42.7% increase in net profit to $51.7 million. The result was driven largely by increased revenue from North America, which grew 34.6% to $86.4 million. The company's underlying profit before tax increased by 42.9% to $69.9 million, and its cash and other financial assets grew by 17.7% to $182.3 million. Pro Medicus remains debt-free. During the period, the company won key contracts with Trinity Health, Lurie Children's Hospital, and Duly Health and Care, with a combined minimum value of $365 million spread over 7-10-year deals. The company also renewed contracts with Mercy Health in the USA ($98 million, 8 years) and with a large Australian radiology practice ($32 million, 5 years). Additional modules were also added to existing contracts at both Duke Health and NYU Langone. Pro Medicus CEO Dr Sam Hupert said the company was very pleased with the result, which was a record one in terms of both revenue and net profit, as well as new contract wins, renewals, and upgrades.
Guidance
The company reported a 31.1% increase in revenue from ordinary activities to $97.2 million and a 42.9% increase in underlying profit before tax to $69.9 million for the six months ended December 2024.
Outlook
The company's pipeline remains strong, and it continues to see many opportunities in the USA, particularly on the back of the annual RSNA conference. The company will continue to address all market segments and sizes, leveraging its modular approach to provide flexibility and scalability.