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MedAdvisor MARKET RELEASE MedAdvisor Limited ACN 145 327 617 Level 2 , 971 Burke Road Camberwell Vic 3124 mymedadvisor.com/investors Half Year Results 2021 MedAdvisor reports record operating revenue of $ 12.9m , up 191 % YOY , with USA half - year revenue 40 % above expectations Melbourne , Australia , 25 February , 2021 - Medtech company , MedAdvisor Limited ( MedAdvisor or the Company ) ( ASX : MDR ) today released its half year results for the six - month period to 31 December 2020 and is pleased to provide an update of the progress during the period . Key highlights • Purchased strategic partner Adheris , LLC creating immediate scale in the USA • Recognised revenue of AUD $ 12.9m for the half - year to 31 December 2020 , up AUD $ 7.7m on the p.c.p. ( + 191 % ) , with Adheris contributing 6 weeks • • • • • Full year CY20 pro - forma revenue of AUD $ 56m up 24.3 % on CY19 ( AUD $ 45.1m ) MedAdvisor US ( incorporating Adheris ) achieved USD $ 19.3m pro - forma in sales for the December half - year ( up 85 % on the prior corresponding period ( p.c.p ) and + 60 % on MedAdvisor's initial forecast of USD $ 13.8m pro - forma for the half - year ) US gross profit margin of 48 % , up 90 % y.o.y. , with almost $ 1 in every $ 2 dropping to the bottom line Increased operating cash inflows to AUD $ 13.8m for the half - year to 31 December , up 185 % on the p.c.p. Signed contracts in the US to deliver 50 % + of CY21 Adheris earnout revenue hurdle of USD $ 32.5m ( ~ AUD $ 40m ) and pipeline for CY21 is strong • Raised AUD $ 42.3m equity from a number of existing shareholders , including HMS , and new institutional investors MedAdvisor CEO and Managing Director Robert Read said : " The results for the half represent a significant uplift in the profile of the MedAdvisor business . Commercialising our partnerships and technology across the world presents a significant growth opportunity . Acquiring Adheris has fast - tracked MedAdvisor's entry into the largest medication market in the world . The Adheris analytics engine ingests 2.2 billion prescriptions per year and powers successful health programs for global pharmaceutical companies . The contribution Adheris has made to the MedAdvisor business in the first 6 weeks of ownership has exceeded our expectations . Whilst Australia is 2 % of the global medicine market , it is a market that can demonstrate the power of digital health . MedAdvisor's experience in Australia will translate