• Revenue up 17% to $3.773 million
• Net profit after tax of $155,000
• Significant investments made in resources, marketing and IT infrastructure

Pharmx Technologies Limited (ASX: PHX) has reported its half-yearly results for the period ended 31 December 2024. Revenue from operations was $3,773,000, up 17% on the prior period (half-year ended 31 December 2023: $3,235,000). The profit before tax from operations was $379,000 (half-year ended 31 December 2023: profit of $406,000). The net profit after income tax for the half-year ended 31 December 2024 was $155,000 (half-year ended 31 December 2023: loss of $1,732,000). The company has made significant investments in resources, specifically development resources, marketing capability and IT infrastructure to reposition and rebrand the business, enhance the platforms and put in place the infrastructure for new capabilities, particularly in data analytics. As a result, personnel costs, before capitalisation have increased by 45% to $2,097,000, marketing costs have increased by 155% to $166,000 and Technology and communication and cloud costs are up 28% to $258,000.During the half-year, the company agreed to an early termination of the revenue share agreement with Alchemy relating to the acquisition of the Pharmxchange intellectual property, resulting in a reduction in the amount payable under the agreement of $824,000. The company also completed a rebranding initiative to transform its brand and positioning to align with its growth objectives and reinforce its leadership in the pharma-tech sector.

Looking forward, the FY25 strategy remains unchanged: increasing the number of suppliers across the Pharmx network; driving engagement with pharmacies; increasing transaction volumes; and enhancing both its analytics capabilities and addressable market. The company has recently approved investment to accelerate the development of key initiatives, beginning with the Pharmx Supplier Portal, which aims to enhance ordering services, vertical EDI integration, and expand full-service analytics, reinforcing Pharmx's position as ANZ's leading pharmacy ordering network.