Beamtree Holdings Limited (ASX:BMT) Announces 1H FY25 Results
Financial Performance
Beamtree Holdings Limited (BMT) reported a 10% increase in revenue for the first half of FY25, reaching $3.7 million. Operating expenses rose by 5% to $6.2 million. The company achieved break even in operating profit, reversing a loss of $0.5 million in the same period last year. Operating cash flow also reached break even, compared to an outflow of $2.3 million in 1H FY24.
Operational Achievements
The company launched its new Integrated Coding Platform (ICP) in Saudi Arabia, with the first implementation scheduled at a major Riyadh hospital in Q3 2024. Beamtree secured verbal agreements for multiple implementations of its autonomous coding solution across Australia, Canada, and the UK, exceeding pipeline expectations. Additionally, Beamtree signed over $1 million in PICQ recurring revenue in KSA during 1H FY25. In the AI Clinical Decision Support segment, a new two-year contract was signed with Western Sydney Local Health District for an AI-based deterioration index, and regulatory approval in Europe is expected in the second half of FY25. The diagnostics division saw a 50% increase in revenue from its Abbott distribution agreement and launched its first Veterinary Lab in Australia, with plans to expand to the UK. Beamtree also activated a new $2 million data analytics platform and engaged in advanced discussions with the NHS Confederation to form a peer analytics and learning network in the UK.
Future Outlook
Management reaffirmed the outlook to deliver $60 million in annual recurring revenue by the end of 2026, supported by a $13 million pipeline in later-stage procurement. Reported revenue growth is expected to be approximately 10% for FY25, with forecasted recurring revenue growth of 12% to 14%. Annual recurring revenue is projected to grow by 20% by June 30, 2025.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Beamtree. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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