Pharmx Posts $7.53m Revenue and $1.61m EBITDA in FY25
Pharmx Technologies reported a 13% increase in FY25 revenues to $7.53 million, driven by strong growth across its Gateway and Marketplace platforms. The company maintained positive EBITDA and a solid cash position despite legal expenses, setting the stage for an ambitious FY26 growth strategy.
- 13% revenue growth to $7.53 million in FY25
- Positive EBITDA of $1.61 million despite legal case costs
- 193% surge in Marketplace revenues year-on-year
- Strong cash balance of $4.2 million at June 2025
- Strategic focus on digitisation, supplier onboarding, and analytics expansion for FY26
Robust Financial Performance in FY25
Pharmx Technologies Limited (ASX, PHX) has reported solid financial results for the fiscal year ending June 2025, with total revenues climbing 13% to $7.53 million. This growth was underpinned by increased activity across its core Gateway and Marketplace platforms, which serve as critical infrastructure connecting suppliers and pharmacies across Australia and New Zealand.
Despite a slight dip in EBITDA to $1.61 million, down $0.2 million from FY24, Pharmx maintained profitability while investing in platform enhancements and operational efficiency. The company’s gross margin improved by 1% to 82%, reflecting disciplined cost management amid expansion efforts.
Marketplace Revenues and Platform Expansion
Marketplace revenues surged by an impressive 193%, tripling compared to the previous year. This growth highlights Pharmx’s success in scaling its e-commerce capabilities, which offer pharmacies a unified ordering experience across multiple suppliers. The launch of new Supplier and Pharmacy Portals, alongside infrastructure upgrades, has modernized the platform and improved user engagement.
Pharmx’s Gateway platform continues to be the backbone of its network, connecting 99% of pharmacies in the ANZ region with suppliers through a seamless electronic data interchange system. The company reported an 18% increase in total gross transaction value (GTV) to $23 billion, demonstrating the platform’s critical role in the pharmacy supply chain.
Navigating Legal Challenges and Cash Position
The company faced significant legal costs related to a court case settled during the year, including a $9.9 million payment to Fred IT Pty Ltd as ordered by the Victorian Supreme Court. Despite this, Pharmx closed FY25 with a strong cash balance of $4.2 million, supported by positive underlying operating cash flows once legal case impacts are adjusted for.
Pharmx also received deferred consideration of $1.25 million from the sale of its pharmacy software business, further bolstering its financial position. The company’s focus on operational efficiency and cost discipline has helped maintain resilience amid these challenges.
Strategic Outlook and Growth Initiatives for FY26
Looking ahead, Pharmx is doubling down on its strategy to accelerate supplier onboarding, deepen pharmacy engagement, and expand transaction volumes. The company plans increased investment in digital enablement, analytics capabilities, and commercial resources to capitalize on favorable market trends such as rising digitisation and evolving pharmacy needs.
Pharmx’s leadership team, including CEO Tom Culver and CFO Zoe Hillier, emphasize the company’s commitment to building a scalable, product-centric Single Platform that supports the entire pharmacy ecosystem. With 99% market coverage and a growing supplier base, Pharmx is well-positioned to drive long-term growth in the $25 billion ANZ retail pharmacy market, forecasted to reach $38 billion by 2030.
Bottom Line?
Pharmx’s FY25 results demonstrate resilience and growth momentum, but the company’s ability to navigate ongoing legal and market challenges will be key to sustaining its expansion in FY26.
Questions in the middle?
- How will Pharmx manage potential future legal risks and their financial impact?
- What are the expected timelines and milestones for the rollout of new digital platforms?
- How will increased competition in pharmacy technology affect Pharmx’s market share?
