MedAdvisor Solutions financial results for 4Q FY24

MedAdvisor Limited (ASX: $MDR) has reported a 32.0% increase in operating revenue for the 4th quarter of FY24, reaching $22.3 million, with the US contributing $15.3 million and ANZ contributing $7.0 million. The full-year revenue for FY24 amounted to $122.1 million, marking a 24.6% increase from the previous corresponding period. The company also achieved its inaugural EBITDA and NPAT profitability for FY24, with cash on hand at $15.6 million as of 30 June 2024.

CEO & Managing Director, Rick Ratliff's perspective on the financial results

We are delighted to announce another exceptional quarter and are immensely proud of our team's accomplishments. The strong performance in 4Q in both the US and Australia caps off a record year for MedAdvisor Solutions. We are delighted to achieve the company's inaugural EBITDA and NPAT profitability. US growth through the quarter was driven by increased demand for patient engagement programs powered by our platform, THRiV. In addition, the overall number of patient engagement programs increased by 20% over the prior corresponding period. Margins also improved in the US as a result of omnichannel program growth. In Australia, the introduction of transaction service fees from March 2024 and adjustments to subscription fees has resulted in a realignment of pharmacy fees to revenue generated from services provided utilizing our platform. This is an important development, which we expect to see build over time to complement our SaaS licenses and health programs.

Outlook and future growth prospects

MedAdvisor Solutions finished FY24 with strong momentum heading into FY25 and anticipates continued demand for patient engagement programs powered by THRiV. The company is also excited to be selected as the preferred software provider to support Australia's initiatives to expand the scope of pharmacy practice. The significant advancements achieved across the business in FY24 have provided a strong foundation for continued growth into FY25. MedAdvisor Solutions anticipates this growth to be driven by the increasing adoption of its omni-channel patient engagement solutions and the introduction of new, innovative service offerings. The company expects FY25 to be another year of significant change powered by its Transformation 360 initiative.