• Significant growth in Annual Recurring Revenue (ARR), up 114% to $1.6 million
• Successful conversion of key opportunities into major customer contracts, including Bupa and RFDS Victoria
• Continued international expansion, with 169% growth in international revenue

The 6 months ending 31 December 2024 has been a period of significant change for Visionflex as the company progressed key strategic initiatives to position the business for long-term growth. While these transitions have contributed to increased losses in the short term, they lay the foundation for a stronger and more resilient future. Aligned with the strategic focus on transitioning to a recurring revenue model through SaaS, the Group achieved significant growth in its Annual Recurring Revenue (ARR) over the past six months, with ARR increasing by $0.3 million to reach $1.6 million, representing a 114% increase compared to the prior corresponding period. The Group successfully converted key opportunities from its expanding sales pipeline into secured contracts with major customers, including Bupa and the Royal Flying Doctor Service (RFDS) Victoria. Additionally, the Group entered into a strategic reseller agreement with Spark Health (NZ). The Group has continued to expand its international presence, achieving growth in offshore markets, with international revenue reaching $0.3 million in the first half of FY25, representing a 169% increase compared to the prior corresponding period. The Group reported an after-tax loss of $1.6 million for H1 FY25, representing a decline compared to the loss of $0.6 million in H1 FY24, driven by lower new contract volumes relative to the prior period. The Group reported consolidated revenue from continuing operations of $1.9 million for H1 FY25, which reflects a decline of 42% from the $3.2 million of revenue in the comparative H1 FY24 period.

The Group remains focused on achieving profitability in the near term, with an updated forecast targeting run-rate EBITDA positivity by Q4 FY25.