Slide 1: Interim Report Q2
1st of January - 30th June 2025 Interim Report Q2
Slide 2: Operational discipline and innovation drive €0.9m rebound, marking historical quarterly positive cash flow
Operational discipline and innovation drive €0.9m rebound, marking historical quarterly positive cash flow Investor snapshot Metric Q2 2025 Q2 2024 YoY ∆ Q1 2025 QoQ ∆ Revenue (Pro Forma) €m 3.5 3.3 6% 3.6 -1% Constant currency revenue €m 3.6 3.3 8% 3.5 1% Subscription % of Revenue 87 79 +8pp 84 +3p
Slide 3: CEO Summary Highlights
CEO Summary Highlights Q2 2025 marks a strong quarter of operational and financial progress, as we continue to embed a leaner, more scalable SaaS-first operating model across the Group. Solid Financial Delivery Despite Strategic Reshaping Group pro forma revenue grew 6% YoY to €3.5m, with Lifecare r
Slide 4: CEO letter to shareholders
CEO letter to shareholders Dear Shareholders, The second quarter of 2025 marks an important milestone for our company: it is the first full quarter operating with our newly optimised cost base and streamlined team structure. I am pleased to report that not only have we sustained our momentum, we hav
Slide 5: Lifecare division summary
Lifecare division summary Financial Performance (Quarterly & YTD View) Metric Q2 2025 Q2 2024 YoY ∆ YTD 2025 YTD 2024 YoY ∆ Revenue (€) 2,798,632 2,590,641 8% 5,552,356 5,182,208 7% SaaS Revenue (€) 2,626,319 2,444,332 7% 5,208,929 4,931,275 6% Avg. Licenses 69,328 67,094 3% 69,014 66,072 4% ARPU (€
Slide 6: Wellness division summary
Wellness division summary Financial Performance (Quarterly & YTD View) Metric Q2 2025 Q2 2024 YoY ∆ YTD 2025 YTD 2024 YoY ∆ Revenue (€) 715,940 943,910 -24% 1,522,422 2,029,063 -25% Proforma Revenue (€) 715,940 717,601 0% 1,522,422 1,588,162 -4% SaaS Revenue (€) 274,587 255,953 7% 527,284 559,495 -6
Slide 7: Group financial summary
Group financial summary Despite a 1% decline in reported revenue, the Group delivered a 6% increase on a pro forma and 8% on a constant currency basis. This difference primarily reflects the divestment of Wellnow and planned closures of low-margin clinics within the Wellness division, which have bee
Slide 8: Revenue vs. Adj EBITDA vs. EBITDA% vs. Free Cash Flow
Revenue vs. Adj EBITDA vs. EBITDA% vs. Free Cash Flow Revenue vs . EBITDA vs . EBITDA% vs. Free Cash Flow -30 4 -25 Percentagee / Free Cash Flow (€m) 3 -20 €m -15 2 -10 1 -5 -0 0 23 23 23 23 24 24 24 24 25 25 20 20 20 20 20 20 20 20 20 20 1 2 3 4 1 2 3 4 1 2 Q Q Q Q Q Q Q Q Q Q Revenue (€m) Adj EBIT
Slide 9: Segment revenue and margins
Segment revenue and margins Segment Revenue and EBITDA Margins -50 3 .5 3.0 -40 2 .5 -30 EBITDA Margin (%) Revenue (€m) 2.0 -20 1.5 1.0 -10 0 .5 -0 0.0 23 23 23 23 24 24 24 24 25 25 20 20 20 20 20 20 20 20 20 20 1 2 3 4 1 2 3 4 1 2 Q Q Q Q Q Q Q Q Q Q Lifecare Revenue Lifecare Adj . EBITDA Margin We
Slide 10: Strategy, CapEx and Outlook
Strategy, CapEx and Outlook CapEx Over the past 12 months, the Group has maintained a disciplined approach to capital expenditure, with a consistent quarterly CapEx range of €0.7m – €0.8m, predominantly focused on internal product development and infrastructure enhancements. The modest decline in Ca
Slide 11: Risk and uncertainties, Employees, Related party transactions
Risk and uncertainties The risks and uncertainties pertaining to the group have been outlined within the 31 December 2024 annual report. There have been no changes to these risks in the current quarter. Employees The average number of employees in the Group for the period January to June 2025 was 71
Slide 12: Condensed interim financial information: comprehensive income
Condensed interim financial information 1 January 2025 - 30 June 2025 Consolidated statement of comprehensive income 3 Month Period Ended 6 Month Period Ended Year Ended 30 June 2025 30 June 2024 30 June 2025 30 June 2024 31 December EUR (€) Note (unaudited) (unaudited) (unaudited) (unaudited) 2024
Slide 13: Consolidated statement of financial position
Condensed interim financial information 1 January 2025 - 30 June 2025 Consolidated statement of financial position at 30 June 2025 30 June 2025 30 June 2024 31 December 2024 (Unaudited) (unaudited) (audited) Assets Note € € € Non-current assets Goodwill 4 17,560,774 24,053,721 17,859,230 Intangible
Slide 14: Consolidated statement of changes in equity
Condensed interim financial information 1 January 2025 - 30 June 2025 Consolidated statement of changes in equity for the period ended 30 June 2025 Currency translation Share capital Share premium Retained earnings Total reserve € € € € € Balance at 31 December 2023 64,075 24,935,421 (1,032,938) 1,6
Slide 15: Consolidated statement of cash flows
Condensed interim financial information 1 January 2025 - 30 June 2025 Consolidated statement of cash flows for the period ended 30 June 2025 3 Month period 3 Month period 6 Month period 6 June period Year ended 31 ended 30 June ended 30 June ended 30 June ended 30 June December 2024 2025 2024 2025 2
Slide 16: Selected notes
Selected notes 1.Company information Physitrack PLC (the “Company”), was incorporated statements have been prepared by applying the and registered in England and Wales on 15 June 2012 accounting policies and presentation that were with registered number 8106661 under the UK applied in the preparatio
Slide 17: Segment performance, six months ended 30 June 2025
Information reported to management for the purposes of segment performance is focused on the geographical location of each segment. In performing these reviews management group these geographical locations into four regions, being the United Kingdom, Europe, North America and Rest of World. Performa
Slide 18: Segment performance, six months ended 30 June 2024
6 Month period ended 30 June Lifecare Wellness Group Total 2024 EUR EUR EUR EUR Total revenues 5,182,208 2,029,063 - 7,211,271 Operating profit 1,086,732 (252,103) (1,309,019) (474,390) Intangibles recognised on - - 454,624 454,624 acquisition Internally generated intangibles 1,391,150 289,600 - 1,6
Slide 19: Revenue by geography and operating segment
Revenue arising from the Group’s activities during the period of geography and operating segment were as follows: Period ended 30 June Period ended 30 June Period ended 31 2025 2024 December 2024 EUR EUR EUR Lifecare United Kingdom 1,233,055 1,149,741 2,433,929 Europe 2,017,872 1,846,104 3,733,649 N
Slide 20: 4. Intangible assets
4. Intangible assets Internally generated intangible Customer Software Brand Goodwill Total asset relationships EUR (€) Cost At 31 December 2023 17,811,650 638,332 866,828 1,328,899 23,882,146 44,527,855 Additions 1,669,960 47,948 - - - 1,717,908 Exchange differences 339,092 7,011 (1,272) (456) 171,
Slide 21: 5. Adjusting Items
5. Adjusting Items Adjusting items refer to events and transactions whose effect on profits are important to note, particularly when the comparison of periodical profits comprise non-recurring costs in ordinary operations relating to the following: Adjusting item Definition Current period costs rela
Slide 22: 6. Trade and other receivables, 7. Trade and other payables, 8. Related party transactions
6. Trade and other receivables 30 June 2025 30 June 2024 31 December 2024 EUR EUR EUR Trade receivables 862,731 2,428,956 1,828,476 Accrued revenue 216,425 771,539 329,366 Other receivables 488,027 373,510 434,262 Prepayments and accrued income 458,532 239,588 384,871 Inventory 5,692 29,103 14,668 2
Slide 23: 9. Net debt
9. Net debt Net Debt is defined as total liabilities from financing, excluding directors’ loans, net of cash at bank and in hand. A reconciliation of movements in Net Debt from 1 January 2024 is provided below: Interest bearing liabilities Cash and cash equivalents Net debt € € € As at 1 January 202
Slide 24: Wellnow Discontinued Operations
10 Wellnow Discontinued Operations Details of The Sale of The Wellnow Business 30th June 2025 € Consideration Received or Receivable: Cash consideration 1 Fair Value of Contingent and Deferred Consideration 243,024 Total disposal considered 243,025 Carrying amount of net assets sold 429,135 Loss on
Slide 25: Wellnow Discontinued Operations
Wellnow Discontinued Operations Information of the financial performance 30th June 2025 31st December 2024 € € Net Sales 414,484 1,729,796 Expenses (389,060) (1,586,541) Gain from operating activities before taxes 25,424 143,255 Gain from operating activities, net of tax 25,424 143,255 Loss from the
Slide 26: Definition of key performance indicators
Appendix 1 Definition of key performance indicators Alternative key performance Definition Purpose indicators EBITDA provides an overall picture of profitgeneratedbytheoperating activitiesbeforedepreciationand amortisation.Thisistheprinciple operating measure reviewed by Operating profit before depr
Slide 27: Definition of key performance indicators
Appendix 1 Definition of key performance indicators Alternative key performance indicators Definition Purpose The measurement is relevant in order to show the Company's results which exclude non-recurring Operating profit / (loss) excluding items items. Adjusted operating profit / (loss) affecting c
Slide 28: Definition of SaaS Metrics
Appendix 2 Definition of SaaS Metrics SaaS Metrics Definition Purpose The ratio indicates expected recurring SaaS Annualised value of the period’s recurring revenue over the next 12 months and is a key SaaS revenue, based on revenue for the metric for industry comparison. Useful for Annual Recurring
Slide 29: Reconciliation table: revenue growth
Reconciliation table for alternative key performance measures Revenue growth 3 Month period ended Performance revenue 30 June 2025 30 June 2024 Movement growth (%) EUR (€), unless otherwise stated Actual Actual Lifecare 2,798,632 2,590,640 207,992 8 Champion Health UK 621,348 839,407 (218,059) (26)
Slide 30: Reconciliation table: proforma revenue growth
Reconciliation table for alternative key performance measures Proforma Revenue growth Continuing operations 3 Month period ended Performance revenue 30 June 2025 30 June 2024 Movement growth (%) EUR (€), unless otherwise stated Actual Actual Lifecare 2,798,632 2,590,640 207,992 8 Champion Health UK
Slide 31: Reconciliation table: subscription revenue share
Reconciliation table for alternative key performance measures Subscription revenue as a proportion of total revenue (%) 3 Month period ended/ 6 Month period ended / Year ended EUR (), unless otherwise stated 30-June-25 30-June-24 30-June-25 30-June-24 31-Dec-24 Subscription 2,626,319 2,444,332 5,208
Slide 32: Reconciliation table: proforma subscription revenue share
Reconciliation table for alternative key performance measures Proforma Subscription revenue as a proportion of total revenue (%) 3 Month period ended / 6 Month Period ended / Year ended EUR (€), unless otherwise stated 30-June-25 30-June-24 30-June-25 30-June-24 31-Dec-24 Subscription 2,626,319 2,44
Slide 33: Reconciliation table: EBITDA and adjusted EBITDA
Reconciliation table for alternative key performance measures EBITDA, EBITDA margin, items affecting comparability, adjusted EBITDA and adjusted EBITDA margin 3 Month period ended /6 Month Period ended /Year ended EUR (€), unless otherwise stated 30-June-25 30-June-24 30-June-25 30-June-24 31-Dec-24
Slide 34: Reconciliation table: earnings per share
Reconciliation table for alternative key performance measures Earnings per share 3 Month period ended / Year ended EUR (€), unless otherwise stated 30-June-25 30-June-24 30-June-25 30-June-24 31-Dec-24 Net profit / (loss) (150,407) (547,458) (557,082) (656,500) (449,957) Number of shares Ordinary 16
Slide 35: Reconciliation table: adjusted EBITDA less CAPEX
Reconciliation table for alternative key performance measures Adjusted EBITDA and adjusted EBITDA margin less CAPEX 3 Month period ended / 6 Month Period ended /Year ended EUR (€), unless otherwise stated 30-June-25 30-June-24 30-June-25 30-June-24 31-Dec-24 EBITDA 941,420 661,767 1,655,129 1,660,98
Slide 36: Pro-forma Financials FY22-FY24 (Quarterly)
Pro-forma Financials FY22-FY24 (Quarterly) The following events in the current year are impacting the prior year comparatives from meaningful comparison: Divestment of Wellnow from the Physitrack group Closure of unprofitable clinics in Champion Health Plus Restatement of prior year’s Champion Healt
Slide 37: Pro-forma Financials FY22-FY24 (Quarterly aggregated)
Pro-forma Financials FY22-FY24 (Quarterly aggregated) Q2 Interim Report | 1 January - 30 June 2025 37
Slide 38: Reclassified Financials FY24
Reclassified Financials FY24 1 January 2024 - 31 December 2024 Reclassified FY24 KPI’s 3 Month period ended 31-Mar-24 30-Jun-24 30-Sep-24 31-Dec-24 EUR millions (€m), unless otherwise stated Actual Actual Actual Actual Revenue 3.7 3.5 3.5 3.8 Lifecare 2.6 2.6 2.6 2.8 Wellness 1.1 0.9 0.9 1.0 Operati
Slide 39: Reclassified Consolidated statement of comprehensive income
Reclassified Consolidated statement of comprehensive income 1 January 2024 - 31 December 2024 Period Ended 31 December 30 June 2024 30 June 2024 30 September 2024 EUR (€) 2024 (unaudited) (unaudited) (unaudited) (Unaudited) 3,676,720 7,211,271 10,676,574 14,450,702 Revenue Operating expenses before
Slide 40: Reclassified Consolidated statement of cash flows
Reclassified Consolidated statement of cash flows 1 January 2024 - 31 December 2024 Period ended Year ended 31 March Year ended 30 June Year ended 30 Year ended 31 2024 2024 September 2024 December 2024 Operating activities € € € € (Loss) / profit for the period (109,042) (656,501) (1,067,023) (449,
Slide 41: Reclassified Consolidated statement of cash flows
Reclassified Consolidated statement of cash flows 1 January 2024 - 31 December 2024 Investing activities: Purchases of intangible assets (781,888) (1,665,072) (2,571,681) (3,334,572) Purchases of property, plant and equipment (1,698) (12,370) (27,720) (37,444) Net cash used in investing activities -
Slide 42: Further information, Financial calendar
Further information For further information, please contact Henrik Molin, CEO: ir@physitrack.com, +44 208 133 9325 Matthew Poulter, CFO: ir@physitrack.com, +44 208 133 9325 Financial calendar Q2 Report (1 January - 30 June 2025) - 24 July 2025 Q3 Report (1 January - 30 September 2025) - 31 October 2