Earnings call transcript: Pro Medicus posts record H2 2026, shares jump 12.4%

Pro Medicus reported record financial results for H2 2026, with total revenue growing to AUD 261.7 million and underlying EBIT reaching AUD 196 million. The company's margins expanded, and recurring contract coverage reached AUD 1.3 billion over five years. Despite not providing comparable EPS or revenue figures against forecast data, the market responded positively, with the stock jumping 12.4% to $197.67 in pre-market trading.

Pro Medicus highlighted its busiest implementation year and strongest year for contract wins, adding 10 new contracts and achieving a 100% renewal rate. The company's core business remains in North America, which now accounts for more than 90% of revenue. Management noted U.S. market growth driven by cloud-based imaging systems and a preference for vendors offering true cloud deployments.

The company's position among the top 20 U.S. News Best Hospitals increased, with margins about three times higher than its nearest competitor. While the forecast data didn't include actual EPS or revenue figures, Pro Medicus still demonstrated strong operating performance with constant-currency EBIT and NPAT growth exceeding 30%.

The company also faced AUD 11.8 million and AUD 9.9 million revenue and EBIT headwinds from currency movements. However, Pro Medicus emphasized its strong profitability, long contract visibility, and product expansion as factors investors focused on more than any single quarterly comparison.