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ACCESS Newswire
Physitrack PLC - Interim Report: January - December 2024
ACCESS Newswire · Physitrack PLC
Physitrack PLC
6 min read

In This Article:

LONDON, GB / ACCESS Newswire / February 28, 2025 / Physitrack PLC (STO:PTRK) Resilience and Growth: Achieving Positive Cashflow and Momentum in Q4 2024 While Building a Unified Vision for 2025.

Fourth quarter: 1st October - 31st December 2024

  • Revenue increased by 14 per cent to generate total sales of EUR 4.2m (EUR 3.7m). This growth was achieved in Lifecare division (14 per cent) and the Wellness division (13 per cent).

  • Subscription revenue increased 17 per cent (EUR 0.5m) to EUR 3.5m and now makes up 83 per cent of total group revenue, an increase from 81 in the prior year's comparative.

  • Adjusted EBITDA of EUR 0.9m (EUR 0.9m) was generated resulting in an Adjusted EBITDA margin of 22 per cent (23 per cent).

  • Adjusted operating loss of EUR 0.2m (loss EUR 0.01m) was generated resulting in a margin of -5 per cent (-4 per cent).

  • Adjusted ordinary and diluted profit per share totalled EUR (0.00) (EUR 0.01).

  • Cashflow generated from operations before the payment of adjusting items equalled EUR 1.4m (EUR 1.4m).

  • Free cash flow for the quarter was a net inflow of EUR 0.4m (inflow EUR 0.3m).

Year ended: 1st January - 31st December 2024

  • Revenue increased by 10 per cent to generate total sales of EUR 16.2m (EUR 14.7m). This growth was achieved in the Lifecare division (10 per cent) and Wellness divisions (9 per cent).

  • Subscription revenue increased 18 per cent (EUR 2.1m) to EUR 13.3m and now makes up 82 per cent of total group revenue, a significant increase from the prior year's comparative of 76 per cent.

  • Adjusted EBITDA of EUR 3.9m (EUR 3.5m) was generated resulting in an Adjusted EBITDA margin of 24 per cent (24 per cent).

  • Adjusted operating loss of EUR 0.5m (loss EUR 0.1m) was generated resulting in a margin of -3 per cent (-1 per cent)

  • Adjusted ordinary and diluted profit per share totaled EUR (0.03) (EUR 0.02).

  • Cashflow generated from operations before the payment of adjusting items equalled EUR 3.6m (EUR 3.5m).

  • Free cash flow for YTD 2024 was a net outflow of EUR 0.8m (outflow EUR 1.1m).

Key highlights during and subsequent to the third quarter
The Lifecare business maintained its strong growth trajectory, achieving a 14 per cent increase compared to the prior year's fourth quarter and 10 per cent growth year-on-year. Notably, recurring revenue rose by an impressive 18 per cent year-on-year, driven predominantly by product-led growth strategies, underscoring the strength of the business' recurring revenue model.

The Wellness division also demonstrated strong growth, with a 13 per cent increase compared to prior-year quarters and 9 per cent growth year-on-year. While these figures represent positive momentum, they fell short of expectations due to delays in strategic initiatives. A key contributing factor was the delay in launching the localised Champion Health app, which rolled out in Sweden and Germany in November 2024. This rollout is anticipated to support stronger performance in 2025.

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