Enlitic’s Q2 Revenue Jumps 48% Amid $10M Capital Raise and Major Partnership

Strong Revenue Growth and Client Expansion

Enlitic, Inc. has delivered a robust second quarter for fiscal year 2025, reporting a 47.9% increase in unaudited revenue to US$1.08 million compared to the previous quarter. This growth was underpinned by the signing of 26 new client agreements, nearly tripling the number from the prior quarter, with a combined contract value of approximately A$2.3 million. These agreements span both migration technology and software licenses, reflecting the company's expanding footprint in the medical imaging software market.

Strategic Partnership with GE HealthCare

A pivotal highlight of the quarter was the execution of a binding Memorandum of Understanding (MOU) with GE HealthCare. This agreement positions Enlitic’s subsidiary, Laitek, to deliver migration capacity valued at up to A$50 million over the next five years. The MOU, while not a definitive contract, obligates GE HealthCare to an advance payment of US$2 million, which Enlitic received in early July 2025. This partnership not only validates Enlitic’s technology but also opens a significant revenue stream that could transform its financial trajectory.

Capital Raise and Financial Discipline

Complementing its commercial progress, Enlitic successfully completed a A$10 million equity raise in June 2025, issuing 250 million new shares and 125 million options. This capital injection was a condition of the GE HealthCare MOU and provides the company with a strengthened balance sheet, reflected in a cash balance of US$5.6 million at quarter-end. Alongside revenue growth, Enlitic has aggressively pursued cost efficiencies, achieving annualised savings of US$3 to 3.5 million post its acquisition of Laitek. These measures have reduced quarterly cash outflows to US$4.0 million, down from US$4.7 million in the previous quarter.

Path to Operational Break-Even

Enlitic’s management reaffirmed its target to reach operational cashflow break-even by the end of 2025. This confidence is supported by the combination of growing revenues, strategic partnerships, and ongoing cost optimisation. CEO Michael Sistenich emphasized the company’s commitment to scaling its technology platform and expanding market presence, particularly through enhanced sales capabilities and product development. The company’s focus on AI-driven solutions for medical imaging data management aligns with broader healthcare trends towards digital transformation and efficiency gains.

Outlook and Market Implications

While the MOU with GE HealthCare is a significant milestone, it remains a framework agreement pending definitive contracts. Investors will be watching closely for further details on contract finalisation and revenue recognition. Enlitic’s ability to sustain client growth and convert its pipeline into recurring revenue will be critical to achieving its financial goals. The successful equity raise and improved cash position provide a buffer to support ongoing operations and strategic initiatives as the company navigates this growth phase.