SYDNEY: IMEXHS Limited (ASX: IME), a global provider of cloud-based medical imaging software and radiology services, outlined its strategic progress and financial outlook at its 2025 Annual General Meeting on Monday.
Chairman Doug Flynn highlighted the successful launch of the company’s new AI-powered platform, Aquila+, calling it a “major step forward” for the business. The software, designed to enhance diagnostic accuracy and workflow efficiency, has already been installed at eight sites and is expected to drive revenue growth in the second half of 2025.
CEO Dr. German Arango reported a 20% year-over-year increase in annual recurring revenue, reaching $30 million, with 97% of total revenue now recurring. Underlying EBITDA rose to $0.5 million, reflecting cost management efforts. The company closed 2024 with $2.1 million in cash.
Key developments included multi-year software contracts with Clinica del Occidente and Hospital Moncaleano in Colombia, adding $183,000 in annual recurring revenue, and an expanded partnership with Diodiagnostico, boosting recurring revenue to $490,000.
Despite economic uncertainties in Latin America, IMEXHS remains focused on growth in the region, particularly in Mexico, Ecuador and Peru. The company also addressed working capital challenges in its radiology services division, RIMAB, after settling a long-standing debtor issue.
Shareholders approved all resolutions, including executive option grants and a 10% share placement capacity. A spill resolution, triggered by last year’s remuneration report strike, was rejected with 87.9% voting against it.
IMEXHS expects to be EBITDA and cash positive for 2025, with growth accelerating in the second half.