Daily Roundup

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Austco Healthcare Secures A$4.2m Singapore Contract

Austco Healthcare has locked in a decade-long maintenance deal that should provide some welcome revenue predictability. The company's Singapore subsidiary landed a ten-year contract with Jurong Health Complex, valued at A$4.2 million and running through September 2036. The work involves maintaining Austco's Tacera Clinical Care Communications solution across the complex, which houses both Ng Teng Fong General Hospital and Jurong Community Hospital. It's a natural extension of an existing relationship and fits neatly into Austco's broader strategy of balancing project work with recurring revenue streams.

Change Financial Hits Its Stride in Q4

Change Financial wrapped up FY26 on a strong note, posting positive operating cash flow of US$0.6 million in the final quarter. The company's full-year revenue climbed 21% to US$18.2 million, with Q4 alone bringing in US$4.6 million—a 16% jump year-over-year. What's really catching attention is the PaaS business, which now boasts over 150,000 active cards, more than doubling from a year ago. Gross margins expanded by 600 basis points across the year, a sign that the business is scaling efficiently. The company wrapped FY26 with underlying EBITDA of US$3.3 million and is eyeing FY27 growth from its PaaS and PaySim divisions, with plans to migrate more on-premises clients to the cloud version of Vertexon.

Supply Network Navigates Headwinds but Stays on Course

Supply Network had a mixed year, dealing with supply chain disruptions from Middle East hostilities while simultaneously expanding its footprint. The company reported consolidated sales of $403.1 million and profit after tax of $47.7 million for FY2026. Despite operational challenges, the company added new customers and grew existing relationships, all while investing heavily in infrastructure. In New Zealand, Supply Network opened a new Rosedale branch and expanded its Hamilton distribution center. Back in Australia, major IT system upgrades wrapped up, and distribution center integration was completed. The company is now gearing up for further expansion, including tripling capacity at its Eagle Farm branch and relocating its Toowoomba operation. Management is targeting around $50 million in revenue growth for FY2027, banking on these modernized systems and expanded network to drive results.

Supply Network also announced a fully franked final dividend of 44.0 cents per share, up 6.0 cents from the prior year. Shareholders on the register as of September 18, 2026, will receive payment on October 2, 2026.

Integrated Research Grapples with Softer Demand

Integrated Research had a tougher year, with FY26 revenue sliding 17% to A$56-58 million. A weaker renewals book and slower new business in the second half weighed on results. On a pro forma basis—which strips out some one-off items—revenue still fell 13% to A$64-66 million. EBITDA took a hit from expected credit losses and foreign exchange headwinds, landing in negative territory at (2.0)-(4.0) million. The bright spot? Cash generation remained robust, with the company's cash position jumping 27% to A$51.7 million. That war chest gives management room to invest in product innovation and pursue what CEO Ian Lowe calls "product-led growth" for FY27, with a focus on accelerating monetization of new products and expanding client-led innovation.

Medical Developments Sees Penthrox Momentum Build

Medical Developments International delivered positive free cash flow for both Q4 and the full year, with Penthrox revenue climbing $5.4 million. Volume growth was particularly impressive in core markets—up 28% in Australian hospitals and 18% across Europe. The company also scored a regulatory win, getting paediatric label approval for Penthrox in the UK and all European markets, which meaningfully expands the addressable market for the product going forward. Cash on hand stood at $21.4 million at June 30, 2026. CEO Brent MacGregor highlighted the company's dual focus on growing Penthrox volumes while simultaneously improving margins and trimming overheads. FY26 EBIT is expected to be modestly improved compared to the prior year.