Highlights

  • Pro Medicus reported higher FY25 revenue and profit after tax compared with FY24.
  • Net margin increased to 52.2% in FY25, while operating expenses also recorded an increase of 14.86%.
  • The company continued to expand cloud-based imaging solutions through contract wins and renewals.

Pro Medicus Limited (ASX:PME), a global healthcare informatics company specialising in medical imaging software and services, reported higher revenue and profitability for the 12-month period ended 30 June 2025 (FY25). The company continues to provide imaging platforms to hospitals, imaging centres, and healthcare groups across international markets, supported by the expansion of its Visage 7 platform.

FY25 Financial Performance Overview

For FY25, the company reported revenue of AUD 213.0 million, compared with AUD 161.5 million in FY24, representing an increase of 31.89% YoY. Profit after tax rose to AUD 115.2 million in FY25 from AUD 82.8 million in the previous year, reflecting a year-on-year increase of 39.13%. Profit growth for FY25 was supported by scalable cloud software, operating leverage, higher-margin full-stack sales, and disciplined costs.

Net margin improved to 52.2% in FY25, up from 49.8% in FY24. At the same time, operating expenses increased by 14.86% on a year-on-year basis during the period.

During FY25, revenue growth was supported by large contract wins in the United States, contract renewals, expanded module sales, and increasing adoption of cloud-based full-stack solutions. Demand was recorded across academic institutions, integrated delivery networks, and private healthcare providers, particularly in North America.

Recent Business Developments

In December 2025, the company signed an AUD 25 million, seven-year BayCare contract, expanding the deployment of its Visage 7 cloud solutions. The agreement supports the transition of imaging archives from on-premises environments to cloud-based systems and broadens the company’s presence within the North American integrated delivery network market.

Additionally, director share acquisitions were disclosed during December 2025, reflecting on-market transactions completed at prevailing market prices.

Balance Sheet and Risk Considerations

The company reported an increase in its current ratio to 6.49 times in FY25 from 5.98 times in FY24. Inventory turnover declined to 4.2 times from 5.8 times over the same period.

Key risks identified include competitive pressure, regulatory and compliance requirements, customer concentration, potential delays in contract implementation, and reliance on continued demand from major healthcare markets.

Share Performance of PME

PME shares advanced 4.44% to close at AUD 232.170 on 22 December 2025. On a one-year basis, the stock is down 9.11%. The shares have declined 26.97% over the past three months and 16.89% over six months, while the one-month performance shows a fall of 7.62%. Quarter-to-date, PME is lower by 24.69%, and it is down 12.89% month-to-date and 7.18% year-to-date. In contrast, the stock has gained 2.71% over the past week, 6.81% week-to-date, and 0.99% over the past nine months.

The 52-week high for PME stands at AUD 336.00 and 52-week low stands at AUD.

Support and Resistance Summary

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 23 December 2025. The reference data in this report has been partly sourced from EODHD/Others.

 

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.