Alcidion Group (ASX:ALC) Limited , a healthcare software provider whose ordinary shares trade on the ASX, issued a trading update on 29 October 2026 saying revenue that is already sold or renewing for the 2027 financial year totalled A$50.0 million at 30 September 2026. The company said that was 38 per cent higher than at the same point a year earlier. It reconfirmed guidance that FY27 revenue and underlying EBITDA will exceed FY26, but gave no specific figures.

Contracted revenue and the UK win

The headline figure is described as contracted revenue, comprising both new sales and renewals. Alcidion said it expects the number to rise through new sales over the remaining eight months of the financial year, though such sales are not guaranteed.

A significant contribution comes from the Northern Care Alliance in the United Kingdom. Alcidion said the contract has a total value of A$7.5 million over three years, with options to extend to five, and that about A$4.5 million is expected to be recognised in FY27. Under the deal its Miya platform replaces the ExtraMed Flow products at Salford Royal Hospital and then extends to other Northern Care Alliance sites. The company said annual recurring revenue will increase as a result of that expansion, but it did not disclose an ARR figure.

In New Zealand, the Health NZ MidCentral contract has been expanded to include Whanganui Hospital. Alcidion also said it is hiring a dedicated business development manager in Canada and is in reseller discussions in the Middle East, pointing to an effort to broaden its geographic reach.

Products and integration

The company announced Miya Patient Administration, an AI-enabled patient administration system built on the Miya platform. It also said integration of the Kyra flow products, acquired on 29 June 2026, is progressing, with transitional services now brought in-house and cost synergies expected through FY27. Those synergies have not been quantified in the document, and delivery remains subject to execution.

Buy-back and share consolidation

On capital management, Alcidion said it expects to begin an on-market buy-back of up to 10 per cent of issued capital around 10 November 2026, running for up to 12 months. That equates to roughly 135 million shares at current capital, or about 13.5 million after a proposed consolidation. The company stressed that the 10 per cent figure is a maximum rather than a target, that purchases may be intermittent, and that the programme can be suspended or terminated.

The consolidation, announced on 9 October 2026, would convert every 10 shares into one and still requires shareholder approval. Investors should therefore note that share counts quoted for the buy-back differ before and after that vote, and that the consolidation is not yet confirmed.

What the update does not say

The trading update does not provide a cash balance, EBITDA figure or ARR number. Alcidion said it no longer lodges quarterly Appendix 4C cash flow reports, so there is no separate cash disclosure alongside the update.

That means the contracted revenue number is the main quantified datapoint. It is a measure of sold and renewing business rather than recognised revenue, and the portion that converts into reported revenue will depend on delivery timing and contract terms. For the Northern Care Alliance deal, the company itself has indicated that only about A$4.5 million of the A$7.5 million contract value is expected to fall into FY27.

Risks and next steps

The company pointed to dependence on further new sales, the pending shareholder vote on the consolidation, and the still-developing Kyra integration as areas of uncertainty. Near-term milestones include the planned start of the buy-back around 10 November 2026 and the shareholder decision on the consolidation, with progress on new sales through the rest of FY27 to be tracked in later updates.