Adheris Health Limited (ASX: AHE), a leader in pharmacy-driven patient engagement solutions that personalises patient experiences to simplify their medication journey, has released its half-yearly report for the six months ended 31 December 2025 (1H FY26). The company leverages THRiV, a cloud-based, AI-enabled platform, empowering the pharmacy of the future through workflow improvements and patient engagement. The report highlights a period of transition and strategic realignment for the company.
Key highlights from the 1H FY26 report include the appointment of a refreshed leadership team, including CEO John Ciccio, the successful launch of a new technology platform in December 2025 designed for efficient omnichannel delivery, and the implementation of an accelerated cost-out program projected to reduce operating costs by over 30% between FY25 and FY27. The sale of the ANZ business was completed, with total consideration, including an adjusted Holdback payment, amounting to $33.1 million. The pro-forma cash position at 31 December 2025, including the Holdback payment, was $14.2 million, with no debt.
Financially, Adheris Health reported revenue of $23.3 million, a 49% decrease compared to the previous corresponding period, attributed to lower program volume and vaccine revenue decline. Gross profit decreased by 58.6% to $10.6 million, with a gross margin of 45.6%. EBITDA was $10.7 million, up 107.5% from $5.2 million, while NPAT increased 245.8% to $7.3 million. Net operating cash outflow was $6.2 million, consistent with the prior year.
CEO John Ciccio commented on the results, stating the team has responded quickly to operational challenges and changing market conditions. The focus is now on building a more resilient and diversified revenue base by reducing reliance on vaccine programs, expanding into high-growth therapeutic areas, and prioritising higher-margin solutions. The company aims to improve performance and return to profitability by broadening its pharmacy network and enhancing digital engagement capabilities.
