A compounder here Ladies & Gentlemen>
CHAIRMAN’S REPORT (some of the Presentation below)
During the FY24 year the company announced 9 new contract wins in North America including our largest contract to date, Baylor Scott & White, which as of mid- September is fully live, along with many others implemented during the year. (Dr. Hupert will go through the details of these contracts in his presentation). Since 1 July 2024 the Company has announced two significant client renewals, one in North America and one in Australia, both at increased fee levels. Despite the number of new additions to our client base, new opportunities continue to present themselves and as a result our pipeline remains strong
Financial Results FY2024 was another record year for the company with revenue increasing by 29.3% to $161.5 million and net profit after tax increasing by 36.5% to $82.8 million. The Company continued to be cash flow positive with retained cash and liquid investments increasing from $121.5 million to $155.4 million, after a $A2.77m buyback of shares in February/March, a $US5m investment in cardiac CT AI company Elucid and paying increased dividends. The Board anticipates FY25 will be another strong year. The budget for the current financial year has been determined recognising anticipated continuing strong growth, from both existing and new clients. I am pleased to advise that results to date are ahead of budget on a constant currency basis and an Australian dollar basis, despite some volatility in currency markets during the period. We anticipate that the second half of the financial year will be stronger than the first half, as is traditionally the case.
Whome are they?
A look back to the June 2024 Annual Report:
>> I Just clarifying the employee head count its '120' worldwide <<
PME ASX: Pro Medicus’ Sam Hupert says simplicity secret of success
Hupert’s message to investors this week was one of “steady as she goes”. There are no plans to raise capital, make major acquisitions or veer away from the model that has been working for the past 10 years. “We have been able to fund growth organically and profitably. Touch wood, it has gone well for us. We didn’t imagine we would be quite here,” he says.
For a company worth $18 billion, its staff numbers are extraordinarily low at 120. It is headquartered in Melbourne, has an office in San Diego and an R&D centre in Berlin. The two inventors of its cloud software platform work for the company as chief technology officer and the head of development.
Eye watering return there below:
Return (inc div) 1yr: 158.49% 3yr: 54.37% pa 5yr: 54.44% pa
HIGHLIGHTS Signs five new customer contracts with a combined minimum value of A$45.0M Broad range of customers - multiple segments of the market New contracts are transaction-based with potential upside
The contracts will be fully Cloud deployed and are expected to be completed within the next 6 months:
A $9.5M, 5-year contract with Consulting Radiology, a private radiology group in Minnesota
A $11.5M, 7-year contract with Nationwide Children’s Hospital, a leading paediatric hospital in Columbus, Ohio
A $6.5M, 5-year contract with Nicklaus Childrens Hospital, a leading paediatric hospital in Miami, Florida
A $9M, 8-year contract with Moffitt Cancer Center, in Tampa, Florida
A $8.5M, 5-year contract with US Radiology Specialists, a partnership of physician owned radiology practices. The contracts bring the company’s minimum total contract value (TCV) for new sales this financial year to $245 million.
Return (inc div) 1yr: 93.91% 3yr: 37.59% pa 5yr: 39.48% pa
Latest pe ratio: 173% (the high pe puts many Investors off)
