Alcidion Doubles New Contract Sales to $73.8M, EBITDA Hits $5.1M
Alcidion Group Limited has reported a transformative FY25 with record earnings, a major NHS contract win, and a robust outlook for FY26. The company’s healthcare technology platform is gaining traction across the UK and Australia, setting the stage for accelerated growth.
- Record underlying EBITDA of $5.1 million, up $8.5 million from FY24
- Revenue increased 10% to $40.8 million, with 63% from UK and 37% from ANZ
- Annual Recurring Revenue (ARR) rose 31% to $28.5 million
- New Total Contract Value (TCV) sales more than doubled to $73.8 million
- Secured a $39 million+ 10-year Electronic Patient Record contract with North Cumbria NHS
A Year of Transformation
Alcidion Group Limited (ASX – ALC) has delivered a standout financial year ending June 2025, marked by record profitability and significant contract wins that underscore its growing influence in healthcare technology. The company’s flagship platform, Miya Precision, is proving its value across multiple jurisdictions, particularly in the UK and Australia, where it addresses critical healthcare challenges such as patient flow, emergency presentations, and clinical workload.
FY25 saw Alcidion’s underlying EBITDA soar to $5.1 million, a remarkable $8.5 million improvement over the previous year, alongside a 10% revenue increase to $40.8 million. This growth was driven by a balanced geographic split, with 63% of revenue from the UK and 37% from Australia and New Zealand (ANZ), reflecting the company’s expanding footprint.
Contract Wins Cement Market Position
The year’s highlight was the signing of a $39 million-plus 10-year Electronic Patient Record (EPR) contract with North Cumbria NHS Trust in the UK. This milestone deal not only validates Alcidion’s dual-market strategy; offering both modular and comprehensive platform solutions; but also significantly boosts its long-term revenue visibility. The contract’s upfront capital license payment contributed materially to FY25 revenue and promises recurring income upon renewal, reinforcing the company’s low customer churn environment.
In Australia, Alcidion secured multiple new contracts with health networks including Hume Rural Health Alliance, Northern Adelaide Local Health Network, and Peninsula Health, focusing on patient flow management and virtual care. These wins, alongside expansions and extensions of existing contracts, demonstrate the platform’s growing adoption and the company’s leadership in patient flow solutions.
Financial Discipline and Cash Strength
Alcidion maintained a disciplined approach to cost management, reducing staff and operating expenses by 10% year-on-year. The company’s gross profit margin improved to 88.2%, aided by restructuring a third-party contract. Positive foreign exchange movements further bolstered earnings, resulting in strong cash conversion with $5.8 million operating cash flow and a healthy $17.7 million cash balance at year-end, all achieved without debt.
Leadership and Strategic Outlook
FY25 also saw strategic board and leadership appointments, including UK-based digital health expert William Smart and former Alfred Health CEO Professor Andrew Way AM joining the board. Key executive hires in the UK market aim to accelerate sales and clinical information leadership, positioning Alcidion for sustained growth.
Looking ahead, the company enters FY26 with $34 million in contracted revenue expected to be recognised, with further growth anticipated as new contracts are secured. Alcidion plans to leverage its Miya platform into adjacent markets and geographies, with a detailed growth strategy update scheduled for mid-September.
Bottom Line?
Alcidion’s FY25 momentum sets a strong foundation, but execution on new contracts and growth plans will be critical to sustaining its upward trajectory.
Questions in the middle?
- How will Alcidion manage the implementation risks associated with its large NHS contract?
- What are the company’s plans for expanding Miya Precision into new geographic or vertical markets?
- How might leadership changes impact Alcidion’s sales execution and operational delivery in FY26?