• Revenue down 7.5% to $17.6M, in line with expectations
• Net loss improved by 79.5% to $889K due to restructuring
• Underlying EBITDA profit of $541K, a $3.3M improvement
• Signed $18.3M in new sales and renewals, with $6.5M expected in FY25

Alcidion Group Limited reported its financial results for the half-year ended 31 December 2024. Revenue for the period was $17,638K, a 7.5% decrease from the prior corresponding period (PCP) of $19,059K. This was expected due to a known reduction in non-recurring product implementation revenue from the Leidos Australia contract nearing completion. The company saw a material improvement in its net loss position, which decreased by 79.5% to $889K from the PCP net loss of $4,336K. This was primarily driven by the restructuring undertaken in FY24 H2, which resulted in a $3,352K decrease in employee benefits expense.Alcidion's underlying EBITDA for the period was a profit of $541K, a $3,329K improvement from the PCP underlying EBITDA loss of $2,788K.During the half, the company contracted new sales and renewals with a total contract value (TCV) of $18.3M, with around $6.5M of that expected to be recognized in FY25. Significant new contracts included deals with Hume Rural Health Alliance, North Adelaide Health Local Network, and Peninsula Health.Subsequent to the reporting period, Alcidion announced two major new contracts - a $5.5M deal with Hywel Dda University Health Board in Wales and a $37.5M contract with North Cumbria Integrated Care NHS Foundation Trust. These new contracts, combined with the H1 FY25 sales and renewals, give the company confidence it will deliver positive EBITDA for the full year.

As at 31 December 2024, the total FY25 sold and renewal revenue was $30.8M. Following the signing of the NCIC and Hywel Dda contracts in February 2025, and subject to meeting implementation milestones, the sold a renewal revenue is currently $39.5M. At this level of revenue, the business is confident it will deliver positive EBTIDA for the full year.