Key Highlights

  • Third-quarter revenue was A$8.9 million, up 23 per cent on the prior corresponding period or 6 per cent in constant currency.
  • FY26 revenue guidance of A$31.4 million to A$33.7 million and underlying EBITDA guidance of A$2.4 million to A$2.7 million were reconfirmed.
  • New annualised recurring software revenue was A$282,928 from 13 contracts, compared with A$654,000 in the June quarter.

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. The company said that was 23 per cent higher than the prior corresponding period, or 6 per cent higher in constant currency, and reconfirmed its full-year guidance. Chief executive Dr German Arango described the quarter as one of two halves, with product progress but software bookings below plan.

Revenue, earnings and recurring revenue

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.

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 recurring revenue that is contracted but not yet billing fell to A$2.0 million from A$4.4 million. The company said A$2.4 million of software went live during the quarter and will ramp over coming months.

Software bookings and radiology

New annualised recurring software revenue was A$282,928 from 13 new contracts, compared with A$654,000 in the June quarter, and A$1.37 million for the year to date. Software revenue of A$2.9 million was the highest quarterly figure of FY26. The company said all new software contracts are expected to run on its Aquila+ platform.

In radiology services, nine-month 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. EBITDA was A$1.8 million. Study volumes were below the prior year, with falls in plain radiography and mammography offsetting growth in CT, MR and densitometry, and gross margin eased because the fastest-growing contract carries a lower margin.

Cash flow, funding and guidance

The Appendix 4C showed receipts from customers of A$9.2 million for the quarter and net operating cash inflow of A$967,000. Cash at 30 September was A$2.5 million, up from A$2.0 million at 30 June, and borrowings were A$0.17 million. The company said receipts were higher partly because some larger customers paid June-due amounts in July. 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. Trade and other receivables rose to A$14.5 million, mainly through Colombian receivables and withholding tax credits, in addition to currency translation effects.

IMEXHS reconfirmed FY26 revenue guidance of A$31.4 million to A$33.7 million and underlying EBITDA guidance of A$2.4 million to A$2.7 million, as first given with its half-year results on 28 August 2026.

Colombia and leadership

The company noted that Colombia's new government took office on 7 August 2026 and launched a health-sector plan in September that targets 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 that it is maintaining tighter credit controls.

Fabio Carrillo became chief financial officer on 1 August 2026, following the departure of Reena Minhas on 31 July. Kamille Dietrich of Automic Group became company secretary on 27 July.