Alcidion Group reported a 27% year-over-year increase in total revenue to $51.6 million for the fiscal year ended June 30, 2026, driven by major contracts in the UK National Health Service (NHS) and the acquisition of Kyra flow products.
The company’s UK operations, which accounted for 63% of total revenue, grew 27% year-over-year, while Australia and New Zealand (ANZ) revenue, representing 37% of the total, increased by 26%. Recurring revenue rose 21% to $31.9 million, implementation and services revenue surged 56% to $9.9 million, and capital license revenue grew 17% to $9.8 million.
Underlying EBITDA advanced 34% to $6.8 million, while reported EBITDA increased 28% to $6.2 million. Net profit after tax climbed 38% to $2.3 million, marking the second consecutive year of profitability following the company’s maiden profit in FY25. Operating cash flow reached $6.8 million, achieving a 100% conversion rate from underlying EBITDA, and the company ended the fiscal year with $20.6 million in cash and no debt.
The acquisition of Kyra flow products, completed on June 29, 2026, added 33 customers—31 net new—contributing $3.6 million in annual recurring revenue (ARR) and an estimated $1.1 million in FY26 EBITDA. The deal implied an upfront EBITDA multiple of approximately 2.7x, with over 90% of the acquired revenue recurring. ARR totaled $38.3 million as of June 30, 2026, a 34% increase year-over-year.
Total contract value (TCV) signed during FY26 reached a record $78.5 million, with 79% ($62.2 million) representing new contract sales. Over the past two years, Alcidion secured more than $140 million in new and renewal TCV. FY27 contracted and renewal revenue is expected to total $44.9 million, a 32% increase compared to the FY26 starting position, comprising $38.3 million in ARR and $6.6 million in implementation revenue.
Major contracts included a seven-year, $35 million Electronic Patient Record (EPR) agreement with University Hospitals Sussex NHS, signed in May 2026, and a five-year contract with Gold Coast Health for remote patient monitoring, secured in March 2026. The company’s relationship with North Cumbria NHS Trust now exceeds $50 million over a decade, following multiple expansions. Leidos Australia’s contract with the Australian Defence Force, expanded in November 2025, extends to June 2028 with options through 2036 and brings ARR approaching $6.0 million.
Alcidion serves over 100 healthcare clients globally, managing more than 50,000 beds and supporting 130,000+ active users. The company recorded over 1 billion electronic observations at the point of care and generated over 25 million alerts for patient deterioration in FY26. Independent validation cited a 12% reduction in length of stay, contributing to an estimated $1 billion+ annual impact on the global healthcare economy.
CEO Kate Quirke described FY26 as "a milestone year" with the strongest financial performance to date, alongside customer growth and the Kyra acquisition. CFO Matt Gepp highlighted the company’s strongest balance sheet, providing flexibility for future growth opportunities.
