• Revenue down 1.19% to $3.59M, loss of $629K
• MRR increased 2.3% to $3.31M, 92% of revenue
• R&D expenses down 21% year-on-year, 41% over 3 years
• Operating cash outflows reduced by 80% over 2 years

Global Health Limited reported its financial results for the half-year ended 31 December 2025. Revenue from ordinary activities declined by 1.19% to $3,593,758, while the loss for the consolidated entity after providing for income tax amounted to $629,201 (2024: loss of $686,754). The company continued to focus on developing, selling and supporting healthcare software solutions, with a shift toward a higher-quality, recurring SaaS revenue model. Monthly Recurring Revenue (MRR) increased marginally by 2.3% from $3.2M in December 2024 to $3.3M in December 2025, representing a 12.1% cumulative increase (5.9% CAGR) over the past 3 years. Total customer revenue declined by 1% (Dec-25 vs Dec-24) and by 11% over the 3 years, largely due to the retirement of the SA Health CHIRON PAS application in FY2025. Operating expenses were broadly flat at $3.66M, and operating profit (pre-R&D) remained positive at $478K, down 24% from December 2024 but up 21% from December 2023. EBITDA improved 18% year-on-year, to a loss of $395K in December 2025, a 63% improvement from the December 2023 EBITDA loss of $1.01M. This was largely attributed to the continuing reduction of R&D expenses by 21% compared to December 2024 and 41% over the 3 years, as the company's technology upgrade to a configurable SaaS architecture nears completion. Cash efficiency improved significantly, with operating and investing cash outflows reduced by 80% over the 2 years and 92% over the 3 years.

The company expects to operate within internally generated cashflow going forward, with no planned capital raise. Additional growth drivers include the commercialisation of the updated Lifecard consumer platform, low-touch online sales channels, and expansion in government-funded mental health and community healthcare sectors. Despite ongoing financial pressures across Australia's private hospital system, workforce shortages and rising costs are accelerating digital adoption, creating strong demand for productivity-enhancing SaaS and AI solutions.