Physitrack PLC (PTRK) - Healthcare and Virtual Wellness

Redeyn Q1 ennakot

  • Vahva verrokkikausi Q1/23, joten kasvuluvut voi olla suhteessa heikot.
  • Enemmänkin kassavirta kiinnostaa tässä kohtaa.
  • Isompia uusia sopimuksia ennusteltiin H1/24:lle. Ei ainakaan vielä ole julkistettu, joten painetta Q2:lle
1 tykkäys

Liikevaihtoon 10% orgaaninen kasvu vuoden takaiseen, EPS +/-0 ja kassavirta plussalla toista kvartteria putkeen. :green_circle:

Fokus on ollut isommissa, jatkuvaa laskutusta tuovissa sopimuksissa yksittäisten projektien sijaan. Tämä alkaa nyt vihdoin näkymään, sillä H2/23 oli näiden toimien takia melko nihkeä. Tulossa parempi perusta kasvun jatkumiselle :cowboy_hat_face:

Physitrack PLC – Interim report: January – March 2024

We are pleased to report significant growth in revenue and EBITDA, as well as two consecutive quarters of positive cash flow generation. This reflects our continued success in expanding our market presence, optimising operational efficiency, and delivering value to our stakeholders.

Quarter ended – Jan – Mar 2024

  • Revenue increased by 10 per cent against a strong comparator to generate total sales of EUR 4.1m (EUR 3.7m). On an organic basis revenue grew by 10 per cent. This organic growth was achieved in both the Lifecare (10 per cent) and Wellness (11 per cent) divisions.
  • Subscription revenue increased 23% (€618k) to €3.3m and now makes up 80 per cent of total group revenue, a significant increase from the prior year’s comparative, which was 72 per cent.
  • Adjusted EBITDA of EUR 1.1m (EUR 0.9m) was generated resulting in an Adjusted EBITDA margin of 26 per cent (25 per cent).
  • Adjusted operating profit of EUR 0.1m (EUR 0.1m) was generated resulting in a margin of 1 per cent (3 per cent).
  • Adjusted ordinary and diluted profit per share totalled EUR 0.00 (EUR 0.00).
  • Cashflow generated from operations before the payment of adjusting items equalled EUR 1.0m (EUR 0.7m).
  • Free cash flow for the quarter was a net inflow of EUR 0.1m (outflow EUR 0.4m).

Pari poimintaa kommenteista

  • Champion Health secured significant contracts during the quarter, including the Cabinet Office, Network Rail and ACCA. Champion Health has a strong sales pipeline, and these agreements support the continued growth of the Wellness division.

  • The Growth target will now be that Physitrack aims to achieve a doubling of revenue within the medium term, replacing the previous target set in 2021 that targeted an annual organic sales growth exceeding 30 per cent in the medium term).

Edit: Redeyn pikakommentit

Redeye comments on Physitrack’s soild Q1 figures, which were in line with our expectations. Highlights include quarter-on-quarter growth, an annual recurring revenue (ARR) increase of 15% y/y, positive FCF, and Software as a Service (SaaS) revenues now constituting 80% (71%) of total revenues. Consequently, we anticipate moderate adjustments to our near-term estimates and fair value range.

4 tykkäystä

Redeyen laajempi läpikäynti - ei yllätyksiä odotuksiin, hyvä startti vuodelle

nämä pitää nostaa esille :+1:

ARR increased by 15% year-on-year, reaching EUR13.0m, surpassing our estimate by 6% and showing an 8% quarter-on-quarter growth. SaaS revenues now constitute 80% of total revenues, up from 72% last year, indicating a 23% year-on-year rise. We appreciate this shift towards SaaS revenue for its better margins and recurring nature

Accordingly, to management, 1/3 of the y/y growth is attributed to price increases and 2/3 to volume increases. Despite annual price hikes, churn levels trended inversely, implying pricing power

Ja Henrikin haastis

Physitrack: Interview with CEO Henrik Molin