• Significant shift of US revenue from 1H to 2H FY25 due to lower-than-expected vaccination rates
• Australian operations performing well, in line with management expectations
• Robust 2H FY25 pipeline for US business with over 50% more brands compared to prior year

MedAdvisor Limited (ASX: MDR), a global leader in pharmacy-driven patient engagement solutions, has announced a trading update for the first half of the financial year 2025 (1H FY25). During the current US flu season, vaccination rates have been lower than expected by pharma customers, resulting in a deferral of spend on vaccine-related health programs until later in the season. Accordingly, MedAdvisor expects to see a significant shift of revenue from the first half to the second half in its US business. The Australian operations, however, are performing well and currently in line with management's expectations throughout the first half of the year. As a result of these factors, first half FY25 revenue at the group level is expected to be down 25-30% from the record $75.5m in 1H FY24, while EBITDA is expected to remain positive for the first half and full year FY25. The Company's second-half pipeline for the US business is significantly stronger and more diverse than in prior years, with over 50% more brands compared to the same time last year. Given the robust second-half pipeline and the impacts of the above deferrals, a substantial uplift in US revenue is expected in 2H FY25 compared to the prior year's second half results. The Australian operation is expected to continue to perform to expectations through the rest of the year.

The hard work we have done to diversify our pipeline and customer base this year is expected to drive increased revenue for the remainder of the financial year and allow us to mitigate revenue volatility from key vaccine clients on whom we have previously been very reliant. This momentum positions us well to deliver what we expect to be a record second half revenue performance on previous year second half results.