MedAdvisor Solutions forecasts continued growth for FY25 after stellar year
MedAdvisor Solutions (ASX: MDR) is forecasting further strong growth over the next 12 months after achieving robust recent performances in sales and revenue.
The Melbourne-headquartered patient engagement solution provider reported strong momentum across key markets and continued growth in both the United States and Australian business units, which is helping to drive growth into the fourth quarter of FY24.
MedAdvisor is estimating that its revenue for the June quarter will be between $120 million and $123m, up from $98m for the same period in 2023.
Strong FY25 tipped
This strength has led to MedAdvisor issuing a promising outlook for FY25 with continued growth anticipated, driven by the increasing adoption of its omnichannel solutions and the rollout of innovative new service offerings.
The company also confirmed it had contracted 100% of US projected fourth quarter FY24 revenue by the end of March and that strong trading conditions have continued into the fourth quarter, with its THRiV patient engagement programs driving improved profit in the US.
Locally, transaction fees introduced on the MedAdvisor Solutions platform in early March have added to the company’s growth momentum.
Continued momentum
“We are delighted with the robust momentum our business has demonstrated this year,” chief executive officer Rick Ratliff said.
“This strong performance reaffirms the essential role of our innovative solutions for clients across the United States, Australia and New Zealand.”
“A primary objective for this year was to achieve profitable EBITDA growth and I am proud to announce that our team has successfully met this goal.”
“Looking ahead to FY25, we anticipate continued growth driven by the increasing adoption of our omnichannel solutions and the introduction of new and innovative service offerings.”
Based on the strong fourth quarter FY24 start and anticipated activity levels over the remainder of this quarter, the company expects to deliver positive revenue, earnings and profit metrics for FY24.
The company was created by the merging of MedAdvisor and Adheris Health to become MedAdvisor Solutions, a global leader in pharmacy-driven patient engagement solutions.