How Did Alcidion Land a $39M UK EPR Contract Amidst Record Growth?
Alcidion Group Limited has delivered a record FY25 with $40.8 million in revenue and underlying EBITDA of $5.1 million, driven by a landmark $39 million UK electronic patient record contract and strong recurring revenue growth.
- FY25 revenue reaches $40.8 million, up 10% year-on-year
- Annual recurring revenue grows 31% to $28.5 million
- New and renewal contracts total $73.8 million, including $39 million UK EPR deal
- Underlying EBITDA turns positive at $5.1 million with $5.8 million operating cashflow
- Strategic leadership appointments and expansion plans into new geographies
Record Financial Performance
Alcidion Group Limited has reported a standout financial year for FY25, posting $40.8 million in revenue, marking a 10% increase compared to the previous year. Underlying EBITDA swung from a loss of $3.4 million in FY24 to a positive $5.1 million, supported by disciplined cost management and a growing base of recurring revenue. Operating cashflow also turned positive at $5.8 million, underscoring the company’s improving financial health and operational efficiency.
Contract Wins Fuel Growth
The company secured $73.8 million in new and renewal contracts during FY25, more than doubling its total contract value year-on-year. A highlight was the milestone $39 million, 10-year electronic patient record (EPR) contract with North Cumbria Integrated Care NHS Foundation Trust in the UK. This deal not only validates Alcidion’s Miya Precision platform as a leading healthcare software solution but also positions the company strongly in the UK’s competitive EPR market. Additional contract wins across Australia and Wales further demonstrate the platform’s growing adoption and modular flexibility.
Expanding Market Footprint and Leadership
Geographically, Alcidion’s revenue split was 63% from the UK and 37% from Australia and New Zealand, reflecting its expanding global footprint. The company continued to deepen its presence in key markets with over 100 clinical implementations worldwide. Leadership enhancements included the appointment of William Smart and Professor Andrew Way AM to the board, alongside key executive hires post-FY25 to support UK operations and global sales. These moves signal a strategic focus on scaling growth and navigating complex healthcare environments.
Innovative Platform Driving Healthcare Efficiency
At the core of Alcidion’s success is its Miya Precision platform, a cloud-native, AI-enabled healthcare software designed to digitise clinical workflows, improve patient flow, and support real-time clinical decision-making. The platform’s modular architecture allows customers to tailor solutions to their needs, with modules spanning patient flow, emergency care, virtual care, and electronic prescribing. This adaptability has been key to winning long-term contracts and expanding existing relationships.
Outlook and Strategic Priorities
Looking ahead, Alcidion enters FY26 with $34 million in contracted revenue and a pipeline of expansion opportunities. The company aims to achieve EBITDA positivity and positive operating cashflow in FY26, while exploring new healthcare verticals such as aged care and community care. Geographic expansion efforts are underway, targeting markets including Canada, Saudi Arabia, and the UAE. Additionally, Alcidion is reviewing potential mergers and acquisitions to accelerate its growth trajectory.
Bottom Line?
With a record FY25 behind it and ambitious plans ahead, Alcidion is poised to deepen its impact on global healthcare software markets.
Questions in the middle?
- How will Alcidion’s expansion into new geographies impact its revenue mix and margins?
- What are the risks and timelines associated with scaling the Miya Precision platform into aged care and community health sectors?
- Could upcoming mergers or acquisitions significantly alter Alcidion’s competitive positioning?
