Alcidion Posts $40.8M Revenue and $73.8M in New Contracts in FY25

Strong Financial Performance and Contract Wins

Alcidion Group Limited has delivered a standout FY25, reporting total revenue of $40.8 million, a 10% increase year-on-year, alongside a 31% rise in Annual Recurring Revenue to $28.5 million. The company’s underlying EBITDA swung dramatically from a loss of $3.4 million in FY24 to a positive $5.1 million, complemented by $5.8 million in operating cash flow and a robust cash position of $17.7 million with zero debt. These results underscore Alcidion’s disciplined financial management and operational leverage.

Central to this performance was the securing of $73.8 million in new and renewal contract value, more than doubling the previous period’s tally. Notably, Alcidion clinched a landmark 10-year, $39 million Electronic Patient Record (EPR) contract with North Cumbria NHS Trust, reinforcing its foothold in the UK healthcare market and demonstrating trust in its Miya Precision platform.

Miya Precision, AI-Enabled Platform Driving Healthcare Transformation

At the core of Alcidion’s offering is Miya Precision, a modular, cloud-native platform delivering real-time clinical decision support powered by artificial intelligence. The platform’s flexibility allows seamless integration with legacy and third-party systems, enabling healthcare providers to unlock the value of existing data for smarter, safer patient care. With over 130,000 active users across more than 400 hospitals, Miya Precision supports critical workflows from patient flow management to AI-assisted documentation and discharge planning.

Recent enhancements include generative AI capabilities such as Miya Scribe for automated clinical note population and Miya Insight for summarising patient records, which reduce administrative burdens and improve clinician efficiency. These innovations position Alcidion at the forefront of digital health transformation, addressing the pressing challenges of clinician workload, patient safety, and operational efficiency.

Strategic Growth and Geographic Expansion

Looking ahead to FY26, Alcidion enters with $34 million in contracted revenue and a strong pipeline. The company’s growth strategy is multi-faceted, organic expansion within established markets in the UK, Australia, and New Zealand; product evolution with deeper AI integration; and entry into new geographies such as Canada and the Middle East. Alcidion is also exploring adjacent healthcare sectors including aged care and community health, leveraging its interoperable platform to extend care beyond hospital walls.

Board evolution continues with the appointment of Professor Andrew Way, bringing extensive healthcare leadership experience from Australia and the UK, further strengthening governance as Alcidion scales globally.

Market Tailwinds and Outlook

The healthcare sector’s ongoing digital transformation, driven by the need to improve clinician effectiveness and patient outcomes, provides a strong tailwind for Alcidion. Government funding boosts, particularly within the UK’s NHS, and increasing demand for modular, interoperable solutions underpin the company’s growth prospects. Alcidion’s capital-light model and strong balance sheet provide flexibility to invest in innovation and strategic opportunities.

With a clear mission to modernise healthcare delivery through smart technology, Alcidion is well-positioned to capture expanding market opportunities and deliver sustained shareholder value.