Global Health (ASX:GLH) reported an improved but still negative EBITDA result for FY26 after Investment in its software transition. Its full-year update replaces the earlier expectation that breakeven would be reached by mid-2026.

A Long-Established Healthcare Software Provider

Global Health has provided healthcare software since 1993. Its platforms connect clinicians, care teams and consumers, including provider systems and the Lifecard personal health record.

FY26 Results and Recurring Revenue

In its August 2026 FY26 results summary, Global Health reported EBITDA after fully expensed Research and Development of negative A$545,588, compared with negative A$760,587 in FY25. Annual recurring subscriptions and expansion revenue reached about A$6.675 million, or 93% of customer revenue, compared with 86% in FY25 and 73% in FY24. The company said the major technology upgrade was largely complete, while some customer transitions remained in its outlook.

What the Evidence Means

The higher recurring-revenue mix and lower operating costs improved EBITDA, but the Business had not reached breakeven in FY26. Annual results provide a more current measure of performance than earlier half-year figures.

Positioning Within Health IT

Global Health has integrated parts of its software portfolio with other clinical platforms and continues to develop consumer and provider tools. Those initiatives may affect revenue and expenditure, but the FY26 accounts provide the current baseline for assessing performance.

Risks and Milestones Ahead

Risks include the timing of remaining customer transitions, maintaining subscription revenue and managing costs while funding product development. The company describes remaining customer migrations in its outlook.

Subsequent revenue, operating costs and EBITDA can be assessed against the FY26 loss of about A$546,000. Completion of remaining software transitions is another milestone.