Global Health’s latest results point to a company trying to turn a legacy software base into subscription income. The Australian health-software developer told the market on 27 August 2026 that Recurring Revenue is now the bulk of its customer income, while costs have fallen. It remains loss-making at the pre-tax level, and its borrowing facilities are fully drawn.

What the company does

Global Health (ASX:GLH) develops healthcare software, including the Lifecard personal health record platform. According to its FY2026 results summary, it has spent recent years upgrading three on-premises provider applications to MasterCare Plus, a multi-tenant Software-as-a-Service (SaaS) platform.

FY2026 results: the reported figures

The results summary, released on 27 August 2026, reported the following:

Core annual recurring revenue (ARR) and expansion revenue rose 5.5% to $6.674 million.

Recurring subscription revenue across the SaaS platforms rose 14.2% to $2.051 million.

ARR subscriptions made up 93% of customer revenue, up from 86% in FY2025.

Operating expenses, including research and development, fell by $880,000 to $8.577 million.

Professional services revenue fell by $530,000, which the company attributes to automated onboarding.

Loss before tax narrowed 13% to $758,220.

The summary also says EBITDA improved 28%, from a loss of $760,000 to $545,000.

Cash and funding

The June 2026 Quarterly Report and Appendix 4C, lodged on 23 July 2026, showed customer receipts of $9.532 million for the year, up 12.6%, with $2.519 million in the June quarter. Operating and investing outflows fell 30% to $812,000 for the year, and the June quarter produced operating cash inflow of about $70,000.

Cash stood at $739,000 at 30 June 2026, compared with $475,000 at the end of March. The company reported total financing facilities of $2.032 million, all drawn, with convertible notes maturing in June and July 2027.

Strategy and guidance

Management says it plans to double its Business development team with three extra sales hires in FY2027 and to pursue domestic and international indirect sales channels. It is also promoting Lifecard and seeking integrations with market-leading GP systems. On the AI side, the results describe an integrated clinical scribe through a Partnership with Heidi Health, an AI receptionist and an AI avatar within Lifecard.

The FY2027 Research and Development budget is $1.1 million, down from $1.87 million in FY2026, and the company expects a further $500,000 of operating cost savings from AI-driven productivity. These are management expectations, not outcomes.

Risks

The company is still reporting a loss before tax despite cost cuts.

Facilities are fully drawn and notes mature in mid-2027, so refinancing or repayment is a live issue.

Cash of $739,000 is small against operating costs above $8 million.

Sales growth depends on new hires and partner channels that have yet to prove themselves.