Key Highlights

  • Alcidion shares were trading at $0.12 during the 13 November 2026 session, up 14.29%.
  • Contracted FY27 Revenue reached $50.0 million at 30 September 2026, up 38% on the prior corresponding period.
  • The company reconfirmed FY27 guidance for revenue and underlying EBITDA to exceed FY26 levels.

During the Trading session on 13 November 2026, Alcidion Group Ltd (ASX:ALC) shares were trading at $0.12, up 14.29%, while the S&P/ASX 200 was down 0.73% at 9,079.70 at 12:39 pm AEDT. Alcidion is a Melbourne-based healthcare technology company that supplies software to hospitals in Australia, New Zealand and the United Kingdom. Its latest update was a trading update dated 29 October 2026, which covered the first months of FY27, as the company is no longer required to lodge quarterly Cash Flow reports.

Expanded contracts with hospital customers

Alcidion expanded its contract with Northern Care Alliance NHS Foundation Trust, moving the trust from the existing ExtraMed Flow products to its Miya platform and adding sites across the trust. The total contract value is $7.5 million over three years, with Options to extend up to five years. The company expects $4.5 million of this to be recognised in FY27. It also expanded its Health NZ contract in MidCentral to include Whanganui Hospital.

Revenue and product developments

As at 30 September 2026, FY27 contracted revenue, covering sold and renewal contracts, stood at $50.0 million, up 38% on the prior corresponding period. The company also announced Miya Patient Administration, an AI-enabled patient administration system extending its Miya platform. The integration of the Kyra flow products Business is progressing, with transitional services brought in-house and cost synergies expected through FY27.

Capital management

Alcidion announced an on-market share buy-back and a share consolidation, which it said form part of a broader Capital allocation framework. The company said these measures are intended to support long-term Shareholder value.

Sector context

Hospital software markets in the UK, New Zealand and Australia are shaped by public health budgets, procurement cycles and the adoption of digital patient records. Vendors that sell to public health systems often report contract revenue in lumpy steps as large trusts sign or expand agreements. Demand for AI-enabled administrative tools is a growing theme across the health technology sector.

Risks investors are watching

Public healthcare procurement can be slow, and the timing of contract recognition can differ from contract signing. The company's FY27 outlook depends on delivering the Kyra integration and the expanded NHS and New Zealand contracts on schedule. Contract concentration with a small number of large public customers is also a consideration, along with the ongoing cost base.

What to watch ahead

Investors will look for progress on the Miya Patient Administration rollout, the revenue recognised from the expanded NCA contract in FY27, and the company's next update on guidance. The execution of the on-market buy-back and the share consolidation will also be followed.

Final Word

Alcidion's trading update points to contract expansion and reconfirmed guidance for FY27. Its next updates will show how contracted revenue converts into recognised income through the year.