Revenue Climbs 23% but Bookings Lag as IMEXHS (ASX:IME) Reconfirms FY26 Guidance

Aditi Sarkar

28 October 2026 04:10 PM AEDT

Revenue Climbs 23% but Bookings Lag as IMEXHS (ASX:IME) Reconfirms FY26 Guidance

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Highlights

Third-quarter FY26 revenue of A$8.9 million rose 23 per cent, or 6 per cent in constant currency.
IMEXHS reconfirmed FY26 guidance: revenue of A$31.4 million to A$33.7 million and underlying EBITDA of A$2.4 million to A$2.7 million.
New annualised recurring software revenue totalled A$282,928 from 13 contracts, well below A$654,000 in the June quarter.
Cash rose to A$2.5 million from A$2.0 million, helped by customers paying some June-due amounts in July.

A quarter of two halves, in the words of its chief executive. IMEXHS Limited (ASX:IME) reported third-quarter FY26 revenue of A$8.9 million in its activities report and Appendix 4C, released on 28 October 2026. That was 23 per cent above the prior corresponding period, or 6 per cent in constant currency, and the company reconfirmed its full-year guidance. Dr German Arango said the quarter combined strong product progress with software bookings below plan.

Revenue and earnings

Revenue for the nine months to 30 September was A$24.8 million, up 19 per cent, or 11 per cent in constant currency. Underlying EBITDA, which excludes foreign exchange and share-based payments, was A$0.6 million for the quarter, matching the prior period, and A$1.9 million year to date against A$0.9 million a year earlier. The figures are preliminary and unaudited.

Recurring revenue and software

Annual recurring revenue was A$36.8 million at 30 September, flat on 30 June, made up of A$25.1 million from radiology services and A$11.7 million from software. Billing ARR rose to A$34.8 million from A$32.4 million, while contracted recurring revenue not yet billing fell to A$2.0 million from A$4.4 million. About A$2.4 million of software went live during the quarter and will ramp over coming months.

Software revenue of A$2.9 million was the highest quarterly figure of FY26, and all new software contracts are expected to run on the Aquila+ platform.

Radiology services

Nine-month radiology revenue was A$17.3 million, which the company said was 8.6 per cent above budget and 23.7 per cent above the prior period, with EBITDA of A$1.8 million. Study volumes were below the prior year, as falls in plain radiography and mammography outweighed growth in CT, MR and densitometry. Gross margin eased because the fastest-growing contract carries a lower margin.

Cash and guidance

The Appendix 4C showed customer receipts of A$9.2 million and net operating cash inflow of A$967,000. Borrowings were A$0.17 million. Total debt facilities were A$478,000, of which A$311,000 was unused, and estimated funding including undrawn facilities was A$2.9 million. Receivables rose to A$14.5 million, mainly Colombian receivables and withholding tax credits, in addition to currency effects.

The guidance, first given with half-year results on 28 August 2026, was left unchanged.

Colombia and leadership

Colombia's new government took office on 7 August 2026 and launched a health-sector plan in September targeting additional funding, with about 0.5 trillion Colombian pesos secured for the first phase. A proposed credit line for health insurers remains in draft. IMEXHS said payment behaviour has not yet improved and it is maintaining tighter credit controls.

Fabio Carrillo became chief financial officer on 1 August 2026 after Reena Minhas departed on 31 July. Kamille Dietrich of Automic Group became company secretary on 27 July.

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