Alcidion Posts Record $7.7M Q4 Cashflow and Secures $43.2M in New Contracts

Record Cashflow Caps Strong FY26 Performance

Alcidion Group Limited (ASX:ALC) closed FY26 on a high note, reporting a record $7.7 million in positive operating cashflow for Q4, driven by quarterly cash receipts of $24.6 million. This pushed the full-year operating cashflow to $6.8 million, a 19% increase over FY25, underscoring the company’s robust cash conversion from EBITDA. Alcidion’s CEO Kate Quirke highlighted this as a key strength, emphasizing the company’s ability to generate cash to fund future growth opportunities.

$43.2 Million in New Contracts, Led by UK Expansion

New sales and renewals in Q4 totalled $43.2 million, prominently featuring a $35 million, seven-year contract with University Hospital Sussex (UH Sussex) for the deployment of Alcidion’s Miya Precision Electronic Patient Record (EPR) system. This deal marks UH Sussex as the largest trust in the UK to adopt Miya Precision for full EPR capabilities, expanding on Alcidion’s existing footprint in the region. The contract includes a substantial upfront capital licence fee payment of $10.6 million received during the quarter.

Additionally, Alcidion extended a four-year contract with Western Health, one of Victoria’s largest public health networks, for continued use and expansion of Miya Precision modules. This renewal, the fifth in two decades, reflects the embedded nature of Alcidion’s software and its capacity to interoperate with large-scale EPR vendors, cementing long-term customer relationships.

Strategic Acquisition Strengthens ANZ Patient Flow Presence

On 29 June, Alcidion completed the acquisition of Kyra flow products from Telstra Health, adding 31 new customers across Australia and New Zealand, with a notably stronger presence in Queensland, a previously underpenetrated market for Alcidion. The acquisition was valued at an upfront EBITDA multiple of approximately 2.7x based on Kyra’s FY26 forecast EBITDA of $1.1 million, making it immediately accretive to earnings before expected synergies.

The Kyra acquisition is expected to create cross-selling opportunities for Miya Precision among its customer base and deliver cost efficiencies as integration progresses. This move consolidates Alcidion’s position as the leading provider of patient flow solutions in the ANZ region.

Operational Milestones and Financial Outlook

Operationally, Alcidion achieved a significant milestone with the successful Phase 1 go-live of Miya Precision at North Cumbria, completed on time and without incident. This deployment enhances Alcidion’s referenceability for future procurements and validates its implementation capabilities.

Financially, Alcidion reconfirmed its FY26 guidance with unaudited revenue estimated at $51.6 million, up 27% year-on-year, and EBITDA expected to exceed $5 million. The company ended the quarter with a strong cash balance of $20.6 million and zero debt, positioning it well for further growth. Staff costs rose slightly in Q4 due to the early payment of 50% of FY26 short-term incentives, with the remainder payable in Q1 FY27.

Looking ahead, Alcidion enters FY27 with momentum across its established markets in Australia, New Zealand, and the UK, supported by a substantial pipeline of implementation revenue linked to contracts with Leidos, North Cumbria, and UH Sussex. The company plans to provide a detailed update alongside its audited FY26 results in August.