Pro Medicus, Ltd. · ASX:PME
Pro Medicus — Shareholder Meeting (November 2025)
59 slides from Pro Medicus's shareholder meeting presentation, Nov 24, 2025
Slide 1: AGM November 2025 Chairman's Address
AGM November 2025 Chairman’s Address
Slide 2: Chairman's Report: Overview
Pro Medicus Ltd AGM 24 November 2025 CHAIRMAN’S REPORT Overview The Company has enjoyed another extremely successful year both from an operational and financial point of view. The success of the Company in the markets that we serve continues to be due to the quality of our leading technology and qua
Slide 3: Financial Results
Financial Results FY2025 was another record year for the company with revenue increasing by 31.9% to $213 million and net profit after tax increasing by 39.2% to $115.2 million. The Company continued to be cash flow positive with retained cash and liquid investments increasing from $155.4 million to
Slide 4: Strategic Planning
Strategic Planning The 2026 financial year is the final year of our current three year strategic plan and the Board and senior management are confident that the company will achieve all of the strategic goals which were set three years ago. However, we do not intend to rest on our laurels! Last mont
Slide 5: CEO Presentation
AGM November 2025 CEO Presentation
Slide 6: Pro Medicus (ASX:PME)
PRO MEDICUS (ASX:PME) Healthcare IT company specializing in Enterprise Imaging and Radiology Information System (RIS) software. Leading edge products, growing global presence. EU HQ/R&D Berlin GmbH U.S. HQ San Diego CA GROUP HQ Melbourne AUS
Slide 7: Pro Medicus (ASX:PME)
Pro Medicus (ASX:PME) VISAGE RIS VISAGE 7 Enterprise Imaging Platform 4
Slide 8: Results FY 2025
Results FY 2025 $213.0M $115.2M $157.7M 74.0% Revenue Profit after tax Underlying EBIT Underlying EBIT up 31.9% up 39.2% up 40.5% margins $210.7M $0.30 Cash & Company is Strong Final dividend FF investments debt free balance sheet up 37.5% up 35.5%
Slide 9: FY 2025 Revenue Split
FY 2025 Revenue Split Full year revenue split Exam/licence revenue*** Support/baseline revenue*** Professional Services*** Archive data migration $250,000,000 ***Recurring revenue $16,821,000 $200,000,000 $11,757,000 $26,059,000 $7,371,000 $150,000,000 $9,954,000 $22,249,000 $2,059,000 $8,260,000 $2
Slide 10: Highlights FY 2025
Highlights FY 2025 $5M/7 years New Contract Continues to grow JULY 2024 STRONGLY $330M/10 years CURRENT New Contract PIPELINE NOVEMBER 2024 $30M/7 years New Contract DECEMBER 2024 $33M/9 years New Contract JANUARY 2025 $53M/7 years New Contract FEBRUARY 2025
Slide 11: Highlights FY 2025
Highlights FY 2025 Continues to grow $40M/7 years $20M/5 years STRONGLY New Contract New Contract CURRENT PIPELINE MARCH 2025 APRIL 2025 $24M/5 years $14M/5 years Upgrade Upgrade APRIL 2025 JUNE 2025 $98M/8 years $32M/5 years Renewal Contract Renewal Contract OCTOBER 2024 OCTOBER 2024 NOVEMBER/DECEM
Slide 12: FY 2025 – Results
FY 2025 – Results • Record year • Seven new contracts totaling AUD $520M (at minimums) • Two large contract renewals – worth AUD $130M • Upgrades for additional products – additional AUD $39M • Completed seven cloud-based implementations • Signed research collaboration agreement with UCSF • RSNA 202
Slide 13: Highlights - FY26 YTD
Highlights - FY26 YTD $170M/10 years New Contract & Cardio9logy Continues to grow JULY 2025 STRONGLY $20M/5 years Renewal & Archive CURRENT Upgrade PIPELINE JULY 2025 $10M/5 years New Contract OCTOBER 2025 (ARM) New $44M/5 years Contract NOVEMBER 2025 $29M TCV x 3 3 New Contracts NOVEMBER 2025
Slide 14: FY26 Progress - YTD
FY26 Progress - YTD • Performance ahead of growth budget • On track to deliver on or above 3-year strategic plan (FY24 to 26) • Sales in 1st five months have combined minimum TCV of $273M • Successfully implemented phase 1 of Trinity rollout – largest single “big bang” in industry (October) • Succes
Slide 15: FY26 Progress – 2nd Half
FY26 Progress – 2nd Half • 1st half building momentum for 2nd half • Full 6 months of revenue Trinity Phase 1 and U Iowa • U Kentucky go live scheduled for December 2025 • 3 large implementations scheduled for 1 st 3 months of FY26 to contribute to 2nd half • Existing Client volumes continue to grow
Slide 16: Visage RIS screenshot
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Slide 17: Long term contracts with Lumus and I-MED
• Long term (5 year) contracts with Lumus (Primary Healthcare) and I–MED, the 2 biggest radiology providers in AUS • Upside via client organic and M&A growth • Increased market interest – new opportunities • PME undisputed market leader
Slide 18: Speed | Functionality | Scalability
SPEED | FUNCTIONALITY | SCALABILITY
Slide 19: Massive Data Explosion
Massive Data Explosion • High density Multi-slice CT - 10,000+ images • HD Breast Tomosynthesis - 6 GB+ • Optoacoustic breast ultrasound - 10+ GB • Total Body PET Scan - 10+ GB • 7T MRI - much larger than 3T
Slide 20: Legacy Technology
Legacy Technology “Compress & Send” PACS MODALITIES RADIOLOGIST/CLINICIAN
Slide 21: Solution: Streaming Technology
Solution “Streaming Technology” MODALITIES RADIOLOGIST/CLINICIAN
Slide 22: In Review: 2025/2026 Top Hospitals
In Review 2025/2026 Top Hospitals (alphabetical order) Out of the top-rated U.S. hospitals (11 out of 20) use Visage 7 for PACS.
Slide 23: Increasing Footprint in the IDN Space
Increasing Footprint in the IDN Space • IDNs represent the largest segment of the market • IDN clients across broad spread of opportunities from large multi-state to smaller regional • Most recent IDN sales for more than one Visage product – many “full stack”. • All recent IDN opportunities Cloud de
Slide 24: Trinity Health
Trinity Health • One of the top 10 IDNs in North America • $330M (minimum), 10-year deal • Full Stack – Viewer worklist and archive • To be fully cloud deployed • Phase 1 Implemented on time in October 2025 • Next four key regions to be phased in by June 2026 • One of the largest deals in radiology
Slide 25: Private Market
Private Market • Previously “dormant” due to increased M&A activity • Duly Health $30M – 7 Year deal (Dec 2024) • Lucid Health $40M - 7 Year deal (March 2025) • ARM - $44M - 5 Year Deal (November 2025) • Confirms Visage platform ideally suited to broad range market segments • Growing network effect
Slide 26: University of Colorado Health
University of Colorado Health • $170M – 7-year deal, 2nd largest in company’s history • “Full Stack plus 1” - Includes Visage 7 Cardiology offering • Highly respected hospital system based in Aurora Colorado • University of Colorado Hospital - AMC Medical school and research center for Colorado Univ
Slide 27: Heidelberg University
Heidelberg University • A$10M – 5-year deal • Top German medical school and teaching hospital • Affiliated German Cancer Research Institute largest cancer research centre in Europe • Increases PME footprint in Germany/Europe
Slide 28: Fast Track Implementation
Fast Track Implementation • All implementations on or ahead of schedule • Fast track methodology continues to deliver • Large scale projects completed in under 1/4 to 1/5 the time of industry norm • Delivers huge savings for client • Frees PME staff for other jobs • Reduces barrier to change • Highl
Slide 29: Visage – Proven ROI
Visage – Proven ROI Significant IT & Unparalleled increase in Greater Clinical Accuracy Infrastructure Savings Radiologist Efficiency Improved Physician Delivers Superior Engagement Value Proposition
Slide 30: Radiologist shortage quote
Chair of the Commission on Economics Gregory N. Nicola, MD, FACR “There is a palpable shortage of radiologists in practices and academic departments across the United States, with more than 1,400 physician positions posted right now on the ACR job board.”
Slide 31: Visage 7 Brings Relief – Burnout
Visage 7 Brings Relief – Burnout – the new epidemic? • Acute worldwide shortage of radiologists • Reduced intake of radiology residents – fears AI would take over • Larger datasets – more images to look at • Work life balance post COVID – work from home mandatory part of the mix • Many groups strugg
Slide 32: Clinical Outcomes – Moving the Needle
Clinical Outcomes – Moving the Needle
Slide 33: Growth Strategy
Growth Strategy New product offerings Transaction Extend to new growth from geographical existing clients markets Leverage R&D capability Expand footprint to introduce next – new clients generation products
Slide 34: North American – TAM
North American – TAM • 670 Million exams performed per annum in the US • Growing by ~ 2% to 3% per year • Visage able to address 100% of TAM from a product perspective • ~ 85% of TAM addressable from commercial perspective – “full stack”, Cloud etc • Current market penetration is now >10% and growin
Slide 35: North American Pipeline
North American Pipeline Pipeline Robust Opportunities Network Effect Prospects In terms of quality and Increased number of Further increased from recent high- Progressing through quantity of opportunities inbound RFPs profile wins in Tier 1academic, IDN various stages of the cycle and Private market
Slide 36: Visage 7 Open Archive
Visage 7 Open Archive • Same highly scalable Visage 7 platform • Interoperable – works in complex environments • Enables choice of modular or single vendor solutions • Visage 7 Open Archive integral part of “Full Stack” solution • Pipeline - most opportunities include Visage 7 Open Archive • Key com
Slide 37: Visage 7 Workflow
Visage 7 Workflow • Adds to Visage 7 Viewer and Open Archive modules • Based on over 30 years experience in Workflow SW • Allows PME to offer “full stack” solution • Integral part of Visage CloudPACS SaaS solution • Ability to interface with broad range of AI algorithms • Sold in majority of new con
Slide 38: Visage 7 CloudPACS
Visage 7 CloudPACS • Visage 7 – fully Cloud native • Even faster than on-premise • Full Visage 7 functionality • Security and scale of the cloud • Suitable for all size implementations
Slide 39: Visage 7 CloudPACS
Visage 7 CloudPACS • Pipeline opportunities mandating Cloud deployment • Cloud vendor agnostic - large scale implementations in all three clouds - AWS, Azure and Google GCP • Key competitors can only offer “hybrid” solutions - on premise with cloud backup • Visage 7 CloudPACS - significant strategic
Slide 40: Visage 7 One Viewer - All Modalities
Visage 7 One Viewer - All Modalities • Single viewer for ALL images in the medical record (EMR) • Radiology/Cardiology/Pathology • Non-radiology– reflected light – hi-res photos & videos • Same code base as Visage 7 platform • Increases Visage value proposition • Growth opportunities within existing
Slide 41: Visage | Cardiology
Visage 7 | Cardiology • Cloud-based Workflow and Imaging Solutions for Cardiology Imaging • Same code base as Visage 7 platform • Ultrafast, immediate access to massive Cardiology datasets • Native Cardiology Imaging tools • Advanced interoperability, - export measurements to Epic Cupid
Slide 42: Visage 7 | Digital Pathology
Visage 7 | Digital Pathology • Native support within the Visage 7 Enterprise Imaging Platform (WIP) • Fully Cloud-based (Visage 7 | CloudPACS) • Spatial computing support via Visage Ease VP for Apple Vision Pro (WIP) • Validation of IHE Digital Pathology Profile at the 2025 IHE-Europe Connectathon
Slide 43: Visage 7 | AI
Visage 7 | AI • Breast cancer detection algorithm co- developed with NYU - commercialization pending FDA clearance • Investment in Elucid for Cardiac CT AI • Investment in 4DX – Lung AI • Research collaboration agreement with UCSF, a top AMC • Growing number of 3rd party AI integrations
Slide 44: AI Research Leadership
AI Research Leadership Malte Westerhoff, PhD Detlev Stalling, PhD MingDe Lin, PhD Global Chief Technology Officer Head of Development Clinical Research Manager, North America
Slide 45: Visage 7 Streaming Platform
VISAGE 7° STREAMING PLATFORM Solution O} one vieweR™ FOR ALL ALL PHYSICIANS & CLINICIANS a Visage i sscenltec es me ALL MODALITIES. ALL LOCATIONS. OQ} Visage’ 7 | Open Archive
Slide 46: Pro Medicus – 25 Years as a listed company
Pro Medicus – 25 Years as a listed company IPO – 10th October 2000
Slide 47: Pre IPO 1997 to 2000
Pre IPO 1997 to 2000 Profiles Profile ar , & pro¢medicus — Visace T
Slide 48: 25th Anniversary PME Pre IPO – March 2000
25th Anniversary PME Pre IPO – March 2000
Slide 49: 25th Anniversary PME IPO – 10th October 2000
25th Anniversary PME IPO – 10th October 2000
Slide 50: 25th Anniversary PME IPO
25th Anniversary PME IPO Chairman Mel Ward, left, with CEO Sam Hupert and tech director Anthony Hall. Picture: JOE
Slide 51: Big demand for Promedicus float
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Slide 52: 25th Anniversary PME IPO
25th Anniversary PME IPO • October 2000 - Issued capital 100M shares @ $1.15 • Current shares on issue 104,495,170 • Increase of 4,495,170 (<5%) over 25 years • All new shares issued as part of staff LTI • Company has been self funding throughout • Remains debt free to this day
Slide 53: Visage Ease VP for Apple Vision Pro
Visage Ease VP for Apple Vision Pro “Underpins our belief that our technology is 18 to 24 months ahead of competitors, if not more.”
Slide 54: Visage Ease VP for Apple Vision Pro
Visage Ease VP for Apple Vision Pro Spotlight: Reimagining Radiology with Apple Vision Pro Apple Michigan Avenue Mon, December 16:00 p.m. – 7:00 p.m. Apple Michigan Avenue Discover how Apple Vision Pro is helping to pioneer what’s possible in radiology. Join Dr. Elias G. Kikano, Dr. Paul M. Murphy,
Slide 55: RSNA 2024
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Slide 56: RSNA 2024
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Slide 57: In Summary - FY25
In Summary - FY25 • Most successful year in company’s history • Expanded product portfolio – “full stack” solution • Proven implementation & support capability • Cloud – huge strategic advantage over competitors • Unparalleled value proposition both clinical and financial RoI • North American footpr
Slide 58: In Summary - FY26 - YTD
In Summary - FY26 - YTD • Off to a strong start • Contracted Sales in 1 st 5 months - minimum TCV of A$273M • Phase 1 Trinity & U Iowa implementations successfully completed (Oct & Nov) • Company set to deliver on 3-year growth plan (FY24 to FY26) • Company ahead of budget YTD • U Kentucky on track
Slide 59: Thank you.
, % prosmedicus — Visace IMAGING’ Thank you.