• 92% recurring revenue, among the highest quality revenue bases of any ASX small-cap tech company
• Profitable core business with operating profit of $478K before R&D
• R&D falls 40% over 3 years, clearing the path to EBITDA positivity

Global Health Ltd, an ASX-listed healthcare technology company, has released its H1 FY2026 results, highlighting a transformation in its revenue quality and profitability trajectory. The company has successfully transitioned its business to a SaaS-based model, with 92% of its revenue now coming from recurring sources, up from 73% just two years ago. This high-quality revenue base provides strong predictability and low churn risk. The core business is profitable, generating an operating profit of $478K before R&D expenses, which have declined by 40.5% over the past three years as the SaaS platform transition nears completion. This has led to a 63% improvement in EBITDA, which is on track to turn positive as the platform transition is completed by June 2026. The company has secured a partnership with Australia's leading practice management system provider, Best Practice, which unlocks access to over 6,000 practices, a significant step-change in addressable market. Global Health has also integrated AI capabilities across its platforms, positioning it to drive productivity gains and new revenue streams. The company is self-funding its growth, with a 92% reduction in cash burn over the past two years, and has no plans for a capital raise, opting to operate within its internally generated cash flow.

Forecast FY26 Customer Revenue of approximately $7.5M and Forecast FY26 ARR of approximately $6.7M (90% of Customer revenue).

The company is targeting the launch of its Lifecard consumer health record in Q4 FY26, the completion of the MasterCare+ MVP transition, and the commencement of a new revenue stream from the commercialisation of Lifecard. This is expected to drive an EBITDA positive result for the 6-month period to December 2026, with an additional $400K in ARR from MasterCare+, Lifecard, and HotHealth. The company plans to redirect R&D cost savings to increase customer acquisition expenditure for new logo clients and continue expanding through partnerships and AI integrations, aiming to achieve free cash flow and EBITDA positivity in FY27.