"" Pro Medicus (ASX:PME) has unveiled record financial results for fiscal year 2026, showcasing robust growth across all key metrics despite currency headwinds.
The company reported underlying revenue growth of 28% in constant currency terms, with EBIT margins expanding to 74.9%. Pro Medicus's Visage 7 platform continues to demonstrate exceptional operating leverage and market penetration in North America, where it now serves more than half of the top 20 U.S. hospitals.
In FY26, revenue reached A$261.7 million, representing 22.9% growth on a reported basis, while underlying EBIT climbed 24.4% to A$196.1 million. The company's EBIT margin expanded 90 basis points to 74.9%, significantly outpacing industry norms.
North America dominated the revenue mix, contributing A$236.8 million and growing 24.0% year-over-year. Europe showed particularly strong growth at 37.2%, albeit from a smaller base of A$5.9 million, while Australia contributed A$19.0 million with 7.3% growth.
Pro Medicus's balance sheet strength continued to improve, with cash reserves growing 23.8% to A$216.1 million and total cash and financial assets reaching A$252.3 million. The company maintained zero debt while delivering a total dividend of 69.0 cents per share.
The company's sustained growth trajectory over the past five years demonstrates consistent execution. Revenue has grown from A$93 million in FY22 to A$262 million in FY26, representing a 29% compound annual growth rate.
Pro Medicus secured significant new contracts across diverse market segments, including a A$170 million, 10-year contract with UCHealth Colorado, the second-largest deal in company history. The company also signed A$548 million in total contract value during FY26, comprising A$407 million in new contracts and A$141 million in renewals.
FY26 Financial Highlights
- Underlying revenue growth: 28% in constant currency terms
- EBIT margin: 74.9%
- Cash reserves: A$216.1 million (23.8% growth)
- Total cash and financial assets: A$252.3 million (19.7% growth)
- Net tangible assets per share: A$4.10 (81.4% surge)
- Total contract value signed: A$548 million
- New contracts: A$407 million
- Renewals: A$141 million
Key Contracts and Wins
- UCHealth Colorado: A$170 million, 10-year contract
- Beth Israel Lahey Health: A$90 million, 7-year contract
- Radiology Associates of North Texas: A$44 million, 5-year contract
- University of Maryland Medical System: A$23 million, 5-year contract
- University of Heidelberg: A$10 million, 5-year contract
Implementation Tracker
- 16 go-lives completed during FY26
- Four cohorts of the Trinity Health deployment
- BayCare
- UCHealth Colorado
- University of Heidelberg
The company's implementation capabilities remain a key competitive differentiator, with all projects tracking on or ahead of schedule.