Enlitic’s Q1 Revenue Climbs 5.8% to US$0.77m Amid Pipeline Surge to US$133m

• Q1 CY25 revenue rose to US$0.77m, up 5.8% from Q4 CY24
• Named foundational collaborator in GE HealthCare’s Genesis Cloud Product Suite
• Open pipeline opportunity expanded to US$133.4m post-Laitek acquisition
• Annualised cost synergies of US$2m realised ahead of schedule
• Cash balance at US$2.78m with cash outflows expected to normalise

Revenue Growth and Strategic Collaborations

Enlitic, Inc. (ASX: ENL) has reported a steady revenue increase in the first quarter of calendar year 2025, posting US$0.77 million, a 5.8% rise compared to the previous quarter. This growth reflects the company’s ongoing efforts to leverage its artificial intelligence capabilities in medical imaging data management.

Significantly, Enlitic was named a foundational collaborator in GE HealthCare’s newly launched Genesis Cloud Product Suite, unveiled at the HIMSS Global Health Conference. Enlitic’s AI-enabled migration services are a core feature of this portfolio, designed to streamline large-scale medical imaging data transitions to the cloud. This partnership not only validates Enlitic’s technology but also opens doors to substantial market opportunities.

Pipeline Expansion and Laitek Integration

The company’s open opportunity pipeline has expanded impressively to US$133.4 million as of March 31, 2025, up from US$93.3 million at the end of 2024. This growth is largely attributed to the October 2024 acquisition of Laitek, a US-based leader in healthcare imaging data migration and routing services.

Integration efforts have exceeded expectations, with Enlitic realising US$2 million in annualised cost synergies ahead of schedule and targeting an additional US$1 million in savings by year-end. Revenue synergies are also progressing well, with migration services pipeline opportunities exceeding US$70 million over the next three years. Enlitic is actively engaging over 60% of the PACS OEM market, focusing on converting these opportunities into signed contracts.

Financial Position and Outlook

Despite a net operating cash outflow of US$3.9 million in Q1, down from US$4.4 million in Q4 2024, Enlitic’s cash balance stood at US$2.78 million at quarter-end. The outflows included approximately US$600,000 in one-off integration and acquisition costs, which are expected to normalise in subsequent quarters.

Cost management remains a priority, with reductions in research and development, manufacturing, marketing, and staff costs contributing to improved efficiency. The company is targeting further cost savings of up to US$1 million during 2025.

Enlitic reaffirmed its guidance to achieve operational cashflow break-even by the end of 2025, supported by anticipated revenue growth from migration services and a substantially lower cost base. The company is also actively exploring additional funding options to support this transition and will update the market accordingly.

Strategic Implications

Enlitic’s progress underscores the growing importance of AI-driven solutions in healthcare data management, particularly in facilitating cloud migration for medical imaging. The collaboration with GE HealthCare and AWS positions Enlitic at the forefront of this evolving market, while the Laitek acquisition strengthens its service capabilities and customer reach.

However, with a cash runway of less than one quarter at current burn rates, the company’s ability to convert pipeline opportunities into revenue and secure additional funding will be critical to sustaining momentum and achieving profitability.

Bottom Line?

Enlitic’s strategic partnerships and pipeline growth set the stage for a pivotal year, but cashflow management remains a watchpoint.

Questions in the middle?

• How quickly can Enlitic convert its US$133.4 million pipeline into contracted revenue?
• What specific funding strategies will Enlitic pursue to extend its cash runway?
• How will the collaboration with GE HealthCare and AWS translate into measurable revenue growth?