Physitrack PLC - Interim Report: January - March 2025

About this update from Physitrack Limited

LONDON, GB / ACCESS Newswire / April 30, 2025 / Physitrack PLC (STO:PTRK) - Driving Financially Robust Evolution through Streamlined Operations and High-Margin Innovations. Summary for the period First quarter: 1st January - 31st March 2025 Based on Alternative Key Performance Measures, the Company's key financial highlights for the period are summarised below. Detailed financial KPIs, along with a newly introduced SaaS-specific KPI table, are provided later in this release. Key highlights during the first quarter Robust Financial Performance: Revenue of EUR 3.6 million delivered 3% year-on-year pro forma growth, with an adjusted EBITDA of EUR 1.1 million and positive free cash flow of EUR 0.1 million, despite EUR 0.5 million in restructuring costs. The adjusted EBITDA margin reached 31%, reflecting enhanced operational efficiency and strategic portfolio refinement. Margin-Accretive Restructuring: In March, the completion of the Wellnow management buyout and restructuring within Champion Health Plus removed significant low-margin revenue streams and reduced operational complexity, positioning the Group for scalable, software sales-led growth. Improved Cash Discipline: Champion Health, having previously required group-level support, approached breakeven excluding restructuring costs. This reflects a significant turnaround driven by workforce rationalisation and a pivot to platform delivery. Strategic Enterprise Wins: In March, the largest contract in Champion Health's history, sourced from the existing Lifecare client base, was signed. This deal validates the cross-division value proposition and supports our low-CAC, high-retention enterprise sales model. Product Innovation: In the quarter, a phased rollout of a major update to Physitrack's patient app, PhysiApp, was undertaken, including a redesigned home screen aimed at boosting patient engagement and integrating wellness features across the platform. Strong Outlook: The Group enters Q2 with a leaner cost base, improved margins, and a growing pipeline of enterprise opportunities, underpinning confidence in continued profitable growth throughout FY25. Wellnow divestment The disposal of Wellnow in March 25, marks a strategic step forward in strengthening the Group's financial profile. Completed for €1 nominal consideration and a €243k deferred earn-out (based on 50% of forecast 2025-2026 profits), the transaction removes a structurally loss-making business that generated negative free cash flow of €97k in FY2024 and €14k in Q1 2025, despite contributing €1.7 million in annual revenue in 2024. A gain from discontinued operations of €78k was recognised, reflecting a €186k loss on disposal and €120k in transaction costs, offset by a €25k Q1 2025 contribution and a €359k deferred tax liability write-off. The divestment enhances both profitability and cash flow, while enabling the Group to focus fully on scaling its high-margin, SaaS-led core. CEO Interview A Physitrack Spotlight interview with CEO & co-founder Henrik Molin commenting on the report is available at: https://vimeo.com/1077691193/8346d89c12 Group Key Performance Indicators: SaaS Metrics: Lifecare This includes Lifecare SaaS entities Physitrack and Physiotools. Wellness This includes Wellness SaaS entity Champion Health. The above metrics reflect a robust start to the year for the Group, demonstrating robust performance across a range of core SaaS indicators. While Lifecare Net Revenue Retention (NRR) experienced a modest decline, the Q1 FY25 figure remains broadly in line with a healthy industry benchmark of 100.0%. Webcast conference: April 30, 2025, at 15.00 CET. The presentation will be held in English and will be available on https://www.physitrackgroup.com after the webcast conference. Speakers: Henrik Molin, CEO Matt Poulter, Interim CFO Link to webcast registration: https://us06web.zoom.us/webinar/register/WN_-t8W18CATi6M2gXNftSogQ Participants will be able to ask questions via Zoom's Q&A function. Enquiries regarding this announcement should be addressed to: Henrik Molin, CEO and co-founder, Physitrack. +44 208 133 9325 [email protected] [email protected] About Physitrack Physitrack PLC, founded in 2012, is a global digital healthcare provider, focused on the B2B wellness and virtual-first care markets. With staff with 12 nationalities on four continents, customers in 17 time zones, and end users in 187 countries, Physitrack is a truly global company. The company has two business lines: 1. Lifecare - SaaS platform tailored mainly to physiotherapy and musculoskeletal care, enabling practitioners to deliver clinical home exercises, education prescription, outcomes tracking, triaging and Telehealth. 2. Wellness / Champion Health - SaaS platform for Employee Wellness and care powered by a combination of world-leading technology and wellness professionals based in the United Kingdom, Germany and the Nordics. Physitrack PLC is headquartered in London, United Kingdom, and listed on Nasdaq First North Premier Growth Market (PTRK). Visit us at https://physitrackgroup.com/ (investor relations) https://physitrack.com (product marketing) About Champion Health Champion Health, a subsidiary of Physitrack Plc, is a leader in corporate wellness technology, providing an innovative platform that empowers businesses to support their employees' well-being through personalised wellness action plans and advanced analytics. Visit us at https://championhealth.co.uk/ Attachments Q125 Interim Report Final SOURCE: Physitrack PLC View the original press release on ACCESS Newswire

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