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Highlights
- Revenue jumped 31.1% to $97.2 million
- Net profit after tax (NPAT) increased 42.7% to $51.7 million
- New and renewed contracts worth over $500 million secured
Pro Medicus (ASX:PME), a leading healthcare technology provider, has delivered an impressive first-half result for FY25, reporting significant growth across key financial metrics. The company, known for its advanced medical imaging software and services, saw a 43% surge in net profit, reflecting strong demand and new contract wins.
Strong Financial Performance
For the six months ending December 31, 2024, Pro Medicus recorded revenue growth of 31.1%, reaching $97.2 million. The company’s underlying EBIT margin improved to 72%, up from 66% in HY24. Underlying profit before tax climbed 42.9% to $69.9 million, while NPAT surged 42.7% to $51.7 million.
Shareholders were rewarded with a 39% increase in interim dividends, now set at $0.25 per share. Additionally, cash and other financial investments grew 17.7% to $182.3 million, highlighting the company’s strong financial position.
Major Contract Wins & Renewals
Pro Medicus secured multiple large contracts during the half-year period, underscoring its continued growth momentum. New deals include:
- A combined minimum of $365 million in contracts with Trinity Health, Lurie Children’s Hospital, and Duly Health and Care, spanning seven to ten years.
- A renewed $98 million contract with Mercy Health over eight years.
- A five-year, $32 million renewal with a major Australian radiology practice.
- Additional modules added to existing contracts, valued at $39 million over five years.
These deals reinforce Pro Medicus’ leadership in the medical imaging sector, with increasing adoption of its technology by major healthcare providers.
Growth Drivers & Future Outlook
The company’s profit margins exceeded expectations, primarily due to a rise in transaction-based revenue. CEO Dr. Sam Hupert emphasized the strength of the results, highlighting the successful implementation of a contract with Baylor Scott & White in just 11 months—a record for the industry.
Looking ahead, the company remains optimistic about its growth trajectory. Pro Medicus reported a strong sales pipeline across various client segments, particularly in the U.S., where its presence continues to expand. The company’s participation in the annual RSNA conference, its largest to date, is expected to generate further business opportunities.
With an increasing number of clients adopting its technology and profit margins continuing to expand, Pro Medicus is positioning itself as a dominant player in the healthcare technology space.
