Alcidion Group Limited

ASX:ALC

Alcidion Group Limited

ASX:ALC
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Forum Topics ALC ALC Q3 FY25 Quarterly

Pinned straw:
Seymourbutts
Added 8 months ago

Decent quarterly update from Alcidion today.

Highlights:

  • Upgraded guidance for FY25 EBITDA expected to be >$3m and deliver positive cashflow
  • Q3 cash receipts of $13.1M with a positive operating cashflow of $2.5M (compared to a cash outflow of $1.4M in Q3 FY24) and includes no receipts from North Cumbria Integrated Care (NCIC) NHS Trust
  • Q3 new TCV sales of $48.8M with $11.5M expected to be recognised in FY25 o Signed new $37.5M, 10-year milestone contract with NCIC NHS Trust to deliver new Electronic Patient Record (EPR) platform o Signed new 5 year, $5.5M contract with Hywel Dda University Health Board, our first customer in Wales o Renewed several PCS (PAS) customers
  • FY25 contracted (sold and renewal) revenue stands at $40.2M at end of Q3
  • Cash balance of $10.2M and no debt as of 31 March 2025 o Expecting a strong Q4 of receipts with a debtor ledger of $17.7M at the end of Q3


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As illustrated by the graph of cash receipts (refer above), Q4 is historically the strongest period for customer receipts, a trend that we expect will continue in Q4 FY25, underpinned by a debtor ledger of $17.7M at the end of Q3. 

Overall a pretty rosy update, are they rebuilding our confidence and trust?

Disc: Held IRL and SM.

jcmleng
Added 8 months ago

Much of it was already announced during the quarter, especially the big contracts, but still a nice quarterly result from ALC! Following points to add from Kate’s comments in the call:

  • Seeing signs in the UK bids that US healthcare companies are being shunned - a tailwind for ALC
  • Cashflow in Q3 excludes North Cumbria - cash collection commences in 4QFY25
  • Hywel Dda goes live in Aug/Sep 2025 - an important go-live for Wales referenceability
  • At the end of Q3, Alcidion has $40.2M of contracted and scheduled renewal revenue able to be recognised in FY25 vs FY25 revenue guidance of $37m, underpinning the increased guidance of FY25 EBITDA


I like the trajectory of how ALC has been travelling and these are based on financial numbers, not management promises, so my trust and confidene is very much on the up!

  • New contracts, renewals and revenue have been chugging along nicely
  • Customer Collections and cash are all trending up nicely and more consistently
  • Staff costs have stepped down and are staying down
  • Admin and Product costs have been flattish


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Discl: Held IRL and in SM

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