Pharmx Technologies Limited (ASX:PHX) Announces H1 FY25 Results
Financial Performance
Pharmx Technologies Limited reported total revenues of $3.8 million for the first half of FY25, marking a 17% increase compared to the previous corresponding period. Underlying EBITDA was $1.0 million, a 3% decrease, while underlying NPAT stood at $0.2 million, down 49%. The company’s cash position remains robust at $4.5 million, despite a 66% reduction from the previous period.
Business Expansion
The company expanded its supplier partners by 10% and increased the number of Gateway accounts by 4%, resulting in a 13% rise in recurring revenue. Gateway invoice value was up 18% year-on-year, and Marketplace orders surged by 235% compared to H1 FY24. These growth metrics highlight Pharmx’s successful expansion strategy.
Strategic Partnerships
Pharmx entered a commercial agreement with Toniq, broadening its reach to 99% of pharmacies in New Zealand. Additionally, the company terminated its revenue share agreement with Alchemy, reducing payable obligations by $0.8 million. This strategic move allows Pharmx to invest further in its Marketplace development.
Executive Comments
Thomas Culver, Chief Executive Officer of Pharmx Technologies, stated, “Our year-on-year performance remains strong, with continued revenue growth and positive momentum across key metrics. We have reinforced our position as the region’s dominant independent ordering network, now reaching nearly 7,000 pharmacies and over 200 suppliers, further strengthened by our New Zealand expansion through the Toniq partnership.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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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