Adherium Forecasts $187K Q2 RPM Revenue with 83% Device Shipment Growth

Strong RPM Revenue Growth Signals Market Traction

Adherium Limited (ASX – ADR), a leader in digital respiratory management, has revealed impressive growth in its Remote Patient Monitoring (RPM) subscription revenues for the second quarter of fiscal year 2026. With quarter-to-date RPM revenues reaching $103,000 and a forecasted $84,000 for December alone, the company anticipates total Q2 RPM revenue of $187,000; more than doubling the previous quarter’s figure.

This surge reflects not only increased patient activations but also the successful scaling of Adherium’s RPM platform, which leverages its FDA-cleared Hailie® Smartinhaler® technology. The recurring revenue model is gaining traction as the company builds direct relationships with patients and healthcare providers, particularly across the US market.

Device Shipments Drive Revenue and Patient Growth

Device shipments have been a key leading indicator of revenue growth, with 756 new RPM devices shipped in October and November 2025; an 83% increase compared to the first quarter. Since March, Adherium has shipped 1,839 RPM devices and remains on track to hit its ambitious target of 4,000 total shipments by year-end, including 2,000 RPM devices.

This operational momentum supports the company’s broader goal of reaching 10,000 active RPM patients by the end of 2026, a milestone that would significantly expand its recurring revenue base and market presence.

Strategic Restructuring Fuels Commercial Execution

2025 has been a transformational year for Adherium, marked by a leadership change and a focused restructuring effort. Since appointing a new CEO and realigning resources mid-year, the company has sharpened its growth targets and invested in critical infrastructure, including call centre capabilities and dedicated care teams.

These changes have enabled Adherium to execute a repeatable revenue model at scale, with monthly RPM subscription revenues growing from zero in March to approximately $55,000 by November. The company’s disciplined capital allocation prioritizes revenue-generating activities, positioning it well for sustainable growth.

Outlook – Building Foundations for Value-Based Care

Looking ahead, Adherium is focused on consolidating its RPM platform as a foundation for broader expansion, particularly into the value-based care market in the US. The operational capabilities and clinical experience gained through RPM are critical to supporting future agreements with insurance providers and scaling patient populations.

While the company remains cautious about risks such as reimbursement timing and customer activation rates, the strong leading indicators and clear execution plan provide confidence in achieving its near-term milestones and long-term ambitions.