Key Highlights

  • Pro Medicus shares traded at A$197.14, up 12.10% or A$21.28 on 18 August 2026 at 12:57 pm.
  • FY26 Revenue increased 22.9% to A$261.7 million, while underlying NPAT rose 24.1% to A$144.7 million.
  • Reported NPAT jumped 130.3% to A$265.3 million, while constant-currency underlying NPAT increased 32.5%.
  • Pro Medicus signed 10 new contracts worth at least A$407 million and renewed six contracts worth A$141 million.

Pro Medicus Limited (ASX:PME) shares were trading at A$197.14 on 18 August 2026 at 12:57 pm, up 12.10%, or A$21.28, after the medical imaging software company released its FY26 results. Revenue from ordinary activities increased 22.9% to A$261.7 million, while underlying net profit after tax rose 24.1% to A$144.7 million.

The reported NPAT result was A$265.3 million, an increase of 130.3% from the previous year. Underlying earnings, which the company uses to describe its operating performance, also increased across the reporting period. On a constant-currency basis, underlying revenue rose 28.4% to A$273.5 million, while underlying NPAT increased 32.5% to A$154.5 million.

Revenue Growth Remains Above 20%

Pro Medicus recorded underlying EBIT of A$196.1 million, up 24.4%, while the underlying EBIT Margin reached 74.9%, an increase of 90 basis points.

Currency movements affected the reported growth rates. On a constant-currency basis, underlying EBIT increased 30.6% to A$206 million, compared with the 24.4% increase on the reported basis.

The company said revenue has increased 180% over the past five years, equivalent to a compound annual growth rate of approximately 29%. FY26 therefore extended a multi-year period of revenue expansion.

New Contracts Total at Least $407 Million

Contract activity was a major feature of the FY26 update. Pro Medicus signed 10 new contracts with a minimum combined value of A$407 million during the year.

Among the agreements were a 10-year, A$170 million contract with UC Health Colorado covering its full product suite and cardiology; a seven-year, A$90 million agreement with Beth Israel Lahey Health; and a five-year, A$44 million viewer contract with Radiology Associates of North Texas.

The company also signed agreements with BayCare, the University of Maryland, University Hospital Heidelberg, Roswell Park Cancer Centre and The Vancouver Clinic. Several contracts included multiple components of the Visage product platform, including Viewer, Workflow and Archive.

Six of Six Client Renewals Completed

Pro Medicus also reported six contract renewals during FY26, with a combined value of A$141 million and five-year terms.

Renewed agreements included Northwestern Health at A$37 million, Medstar at A$31 million, Allegheny at A$28 million, FMOL Health at A$20 million, Ohio State at A$16 million and Zwanger-Pesiri at A$9 million.

The company said the renewed contracts included higher minimums and increased fees per transaction. It also completed 16 implementations during the year, including four Trinity Health cohorts and large-scale implementations at the University of Colorado and BayCare.

Cash Position and Dividend Increase

Pro Medicus remained debt-free at the end of FY26, with cash and other financial Assets of A$252.3 million, up 19.7% from the prior year.

The company declared a fully franked final dividend of 37 cents per share, taking the total dividend for FY26 to 69 cents per share, an increase of 25.5%.

The company also launched products during the year in digital pathology and AI-optimised reporting. Its Trinity implementation was described as largely complete, with the company expecting a full-year contribution from the implementation during FY27.

Product Expansion and US Market Position

Pro Medicus said the majority of new contracts signed during FY26 involved its full-stack offering, covering Viewer, Workflow and Archive. Several clients also adopted its cardiology product.

The company reported that it currently has approximately 11% of the US market, with customers including healthcare institutions and academic medical centres. It said the customer base is contributing to a growing network and that inbound requests for proposals are increasing across market segments.

The company also stated that its pipeline remains active, with leads continuing to come from its participation at the annual Radiological Society of North America conference.

Conclusion

Pro Medicus' FY26 result shows continued growth in revenue, underlying earnings, contract wins and customer renewals. Revenue increased 22.9% to A$261.7 million, underlying NPAT rose 24.1% to A$144.7 million and the underlying EBIT margin expanded to 74.9%. Reported NPAT increased 130.3% to A$265.3 million, while the company remained debt-free with A$252.3 million in cash and financial assets. The A$407 million of new contracts and A$141 million of renewals provide further contracted Business activity, while the 69-cent full-year dividend represents a 25.5% increase. The share-price gain to A$197.14 follows a year marked by continued contract growth and product expansion across medical imaging and cardiology.