• Group revenue declined 32.3% to $57.1 million, primarily due to a 29.1% drop in US operations
• Gross profit margin improved to 61.3%, driven by higher-margin digital health programs
• Transformation 360° initiative progressing well, with 35% of US platform transformation complete

MedAdvisor Limited reported a 79.6% decline in profit to $1.4 million for the half-year ended 31 December 2024, primarily due to a 32.3% drop in revenues to $57.1 million. This was driven by a 29.1% decline in the US operations, mainly due to deferrals in vaccine-related health programs and shifts in the US pharmaceutical business landscape. Despite the revenue decline, the company's gross profit margin improved by 3.8 percentage points to 61.3%, reflecting an increasing contribution from higher-margin digital health programs. In Australia and New Zealand, revenue increased by 2.7% to $11.4 million, supported by growth in health programs and transactions. However, gross profit in ANZ declined by 3.1% to $9.3 million, with gross margin decreasing by 4.9 percentage points to 81.6%. The company is progressing well with its Transformation 360° initiative, which is particularly crucial in adapting to market shifts in both the US and Australia. In the US, MedAdvisor is aligning its business operations with the shifting needs of the pharmaceutical industry, which is reorienting towards direct-to-consumer models and high-growth specialty medications. In Australia, government policies and an aging population are driving market growth, presenting opportunities for MedAdvisor's cloud-based platform and pharmacist-led services to thrive.