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H1 FY26 Results Investor Presentation February 2026 PHARMX TECHNOLOGIES LIMITED (ASX:PHX) Subscribe to investor updates For personal use only
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Notice & disclaimer This presentation has been prepared by Pharmx Technologies Limited (Pharmx or the Company or PHX). It should not be considered as an offer or invitation to subscribe for, or purchase any shares in PHX, or as an inducement to purchase any shares in Pharmx. No agreement to subscribe for securities in Pharmx will be entered into on the basis of this presentation or any information, opinions or conclusions expressed in the course of this presentation. This presentation is not a prospectus, product disclosure document, or other offering document under Australian law or under the law of any other jurisdiction. It has been prepared for information purposes only. This presentation contains general summary information and does not take into account the investment objectives, financial situation and particular needs of an individual investor. It is not a financial product advice and the Company is not licensed to, and does not provide, financial advice. This presentation may contain forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, or ‘intends’ and other similar words that involve risks and uncertainties. These statements are based on an assessment of past and present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this presentation, are expected to take place. Such forward-looking statements do not guarantee of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors many of which are beyond the control of the Company, its Directors and management. Although the Company believes that the expectations reflected in the forward-looking statements included in this presentation are reasonable, none of the Company, its Directors or officers can give, or gives, any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this document will actually occur or that the assumptions on which those statements are based are exhaustive or will prove to be correct beyond the date of its making. Readers are cautioned not to place undue reliance on these forward-looking statements. Except to the extent required by law, the Company has no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this presentation. Readers should make their own independent assessment of the information and take their own independent professional advice in relation to the information and any proposed action to be taken on the basis of the information. To the maximum extent permitted by law, the Company and its professional advisors and their related bodies corporate, affiliates and each of their respective directors, officers, management, employees, advisers and agents and any other person involved in the preparation of this presentation disclaim all liability and responsibility (including without limitation and liability arising from fault or negligence) for any direct or indirect loss or damage which may arise or be suffered through use of or reliance on anything contained in, or omitted from, this presentation. Neither the Company nor its advisors have any responsibility or obligation to update this presentation or inform the reader of any matter arising or coming to their notice after the date of this presentation document which may affect any matter referred to in the presentation. For personal use only
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Corporate snapshot All figures correct as at COB 18 February 2026 ASX Code PHX Market Cap $83.9m Share Price $0.14 (+56%) Shares on Issue 599.5m Cash at bank $3.2m Tom Culver, CEO Zoe Hillier, CFO For personal use only
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today A fully integrated and highly efficient pharmacy technology provider with unrivalled reach, capability and opportunity for revenue growth and scale. ANZ’s most reliable, integrated ordering network, used by 99% of ANZ pharmacies and all major Wholesalers and suppliers, making is responsible for over $23bn in transaction flow each year. ANZ's largest pharmacy network offering mission critical infrastructure to all major parties and government agencies. Services through our powerful Single Platform solution supporting Gateway, Procurement and Analytics. A provider of an increasing range of customer orientated owned and partner solutions, from Analytics to Trade Marketing and Tech Services. For personal use only
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3% Total Revenue $3.9m, 3% above pcp H1 FY26 5% Gateway Revenue Gateway revenue increase compared to H1 FY25 H1 FY26 84% Gross Margin 2% improvement on pcp H1 FY26 23% ‘Base Business’ EBITDA Normalised EBITDA +23% on pcp before growth initiative contribution H1 FY26 $3.2m Strong Cash Positive operating cashflows December 2025 24% Marketplace Revenue Marketplace commission revenue increase compared to H1 FY25 H1 FY26 H1 FY 26 HIGHLIGHTS Financial update 54% New Zealand Revenue NZ revenue increase compared to H1 FY25 H1 FY26 $0.5m Positive EBITDA $0.5m decrease compared with H1 FY25 H1 FY26 For personal use only
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Strategic Update Key Strategic Partnership Established with Sigma | Chemist Warehouse, appointing Pharmx as a preferred EDI and growth partner, reinforcing our position at the center of the pharmacy supply chain. Marketplace Launch (Nov ‘25): December delivered record Marketplace GTV, up 68% vs prior peak. GTV +79% MoM, demonstrating strong early traction. Revenue Evolution: Gateway revenue softened slightly due to change in distribution method for two suppliers. This is offset by record supplier integration pipeline, continuation of strategy to increase volumes based ARR and revenue diversification. 19 new suppliers onboarded in H1. Pharmacy Portal Adoption (Jul ‘25) 875 pharmacies live on Pharmacy Portal at Dec 25 (1,200+ currently). 57% use StockView (39%MoM growth). Demonstrating strong adoption of these high utility Pharmacy solutions. Cost Discipline: Costs on plan, with engineering team reduction post Single Platform launch. International Expansion Continued strong growth in New Zealand, key focus under Sigma Strategic Alliance. H1 FY 26 HIGHLIGHTS For personal use only
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Sigma Strategic Alliance Established a multi-year strategic partnership with Sigma | Chemist Warehouse, positioning Pharmx as a key technology and growth partner, whilst re-enforcing Pharmx’s strategy and our role as the leading independent, whole-of-market platform underpinning pharmacy supply chain. Strategic Alliance (What we agreed) • Multi-year strategic partnership with Sigma | Chemist Warehouse • Pharmx appointed preferred EDI and growth partner for Sigma wholesale and CWH retail across Australia & New Zealand • Uptake of Part A and Part B services • Part A – Optimisation of existing services, NZ Expansion and Analytics solutions • Part B – International markets, Marketplace etc • 5-year renewal of Sigma wholesale EDI agreement • Sigma to acquire ~10% equity stake (59.95m shares) • Sigma to appoint a Pharmx Board representative • Pathway for Sigma to increase ownership to up to 19.9% over the term • Shares subject to 3-year escrow Strategic Impact (Why it matters) Opportunity to materially change the profile of the Pharmx business via an equity backed partnership with an ASX top 20 company with a global expansion strategy. This partnership: • Secures our core business with a major customer and strengthens ANZ footprint • Validates and accelerates Single Platform strategy (Gateway, Marketplace and Analytics with the potential to embed solutions through the spine of the supply chain to reduce cost, improve industry compliance, lift sales performance and reduce fees, whilst expanding revenue generation • Provides opportunity for vertical and international expansion • Expands Marketplace and ordering opportunities • Unlocks partner led data & analytics opportunities at a national and global scale STRATEGIC ALLIANCE OVERVIEW For personal use only
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Platform metrics 17% Total GTV 13% v H2 FY25 H1 FY 26 HIGHLIGHTS 8% Total Suppliers (H1 FY26 YTD) 14% v pcp 33% Ave monthly spend / pharmacy, Marketplace Dec 25 v H1 FY25 average 21% Volume based ARR 20% FY25, 16% FY24 VOLUME INSIGHTS 10% Number of Orders pcp change (Gateway) 4% ARPU per month, Marketplace Dec 25 v H1 FY25 average ADOPTION INSIGHTS 5% ARPU, Gateway pcp change 4% Total Accounts pcp change (Gateway) 134% Number of Orders Dec 25 v H1 FY25 average (Marketplace) 99% Monthly Active Users Dec 25 v H1 FY25 average (Marketplace) For personal use only
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Platform Insights FY 26 PLATFORM HIGHLIGHTS 0 COVID Antivirals in Top 10 Chronic therapies anchor portfolio 24.9% Unit Growth ~1% ASP decline 26.8% GLP-1 Contribution to Total Growth Now 10.8% of total GTV 18% Beauty GTV Growth MCoBeauty +137% on last half Beauty Mix Evolution Beauty growth is being driven by premium dermatological strength and rapid scaling of value -led brands. Metabolic Mainstream GLP -1 therapies have transitioned from high -growth segment to core revenue pillar, materially reshaping prescription mix and value concentration. Volume Resilience Growth across core prescription and OTC categories reflects underlying demand strength rather than price inflation. Chronic Reset post Pandemic Pandemic -era antivirals have exited top value rankings, fully restoring chronic therapies (metabolic, cardio, oncology) as the dominant revenue base. Medicinal Cannabis Category continues strong volume -led expansion, with flower dominant and edibles/vapes accelerating, indicating market progression toward scale. 9,653 SKU’s Added in 6 months 11.6% Total Units Sold Flat Average Selling Price (ASP) overall Portfolio Complexity Assortment expansion accelerated in H1, particularly across Beauty and Prescription, increasing breadth while raising operational complexity. +10% transacted SKUs in the period For personal use only
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Profit & loss H1 FY26 • Revenue growth of 3% achieved despite intentional pause to onboarding until new Marketplace was launched. • Cost increases related to growth initiatives and launch of Marketplace - mainly personnel costs (sales, customer success, marketing, product and development), investment into technology and IT infrastructure, and increased marketing activity. Some engineering headcount reductions now implemented, but investment planned to continue in H2. • Amortisation increased as development continued across the product suite; share-based payments costs increased as LTI scheme rolled out to the broader organization. $’000 H1 FY26 H1 FY25 Change Var % Revenue 3,890 3,773 117 3% Operating costs (3,373) (2,706) (667) 25% EBITDA 517 1,067 (550) (52)% Depreciation, Amortisation, Interest & Share -based payments (961) (688) (273) 40% PBT (444) 379 (823) (217)% Tax (68) (224) 156 (70)% NPAT (512) 155 (667) (430)% Strategic initiatives delivered, EBITDA remains positive For personal use only
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Cashflow H1 FY26 • Positive underlying operating cashflow delivered despite strategic investment made during the half. • Net R&D incentive received in the current period was lower than pcp due to income tax paid in relation to the early termination of the revenue share agreement in the prior period relating to PharmXchange IP. • The launch of Marketplace led to product development costs during the period of $1.0m (H1 FY25: $654k.) • Closing cash balance of $3.2m at 31 December 2025. • Pharmx has invested for growth during the current period, and remains in a strong financial position, with capacity for future investment. Positive operating cashflow $’000 H1 FY26 H1 FY25 Change Var % Receipts from customers 3,969 4,192 (223) (5)% Statutory operating cashflow 233 (8,908) 9,141 (103)% Add-back non-recurring Pharmx legal costs and court proceeds - 9,898 (9,898) (100)% Underlying operating cashflow incl. net R&D benefit 233 990 (757) (76)% Less net R&D incentive received (368) (862) 494 (57)% Underlying operating cashflow excl. net R&D benefit (135) 128 (263) (205)% Net cash used in investing activities (1,047) 313 (1,360) (435)% Net cash used in financing activities (144) (59) (85) 144% Closing cash balance 3,214 4,482 (1,268) (28)% For personal use only
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• Strategic Partnership: Appointed preferred EDI and growth partner to Sigma | Chemist Warehouse • Marketplace Live: Pharmx Marketplace launched Nov 2025 • Record Performance : December delivered record Marketplace GTV, up 68% vs prior peak, Marketplace GTV +79% MoM, demonstrating strong early traction • Strong Adoption: +1200 pharmacies live on Pharmacy Portal • Revenue Strength : Record supplier integration pipeline and strong traction in revenue diversification • Supplier Momentum: 19 new suppliers onboarded in H1, despite pre-launch onboarding pause • NZ Expansion: Continued strong growth in New Zealand • Cost Discipline : Costs on plan, with team reduction post Single Platform launch PHARMX OVERVIEW H1 FY26 Summary 5% Gateway Revenue Gateway revenue increase compared to H1 FY25 H1 FY26 $3.2m Strong Cash Positive operating cashflows December 2025 24% Marketplace Revenue Marketplace revenue increase compared to H1 FY25 H1 FY26 $0.5m Positive EBITDA $0.5m decrease compared with H1 FY25 H1 FY26 54% New Zealand Revenue NZ revenue increase compared to H1 FY25 H1 FY26 23% ‘Base Business’ EBITDA Normalised EBITDA +23% on pcp before growth initiative contribution H1 FY26 For personal use only
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Q&A For personal use only
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Thank you Suite 11.02, Level 11,17 Castlereagh Street, Sydney 2000 investor.relations@Pharmx.com.au For personal use only
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Appendix 15 For personal use only
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Corporate Overview Pharmx Technologies Limited as at 18 February 2026 Share Price $0.14 Market Capitalisation $83.9m Enterprise Value (Cash 31/12/2025) $80.7m Capital Structure Shares on issue (m) 599.5 Options / Perf Rights (m) 26.5 Diluted Issued Capital (m) 626.0 Share Price Performance For personal use only
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Profit & Loss $’000 H1 FY26 H1 FY25 Var $ Var % Revenue 3,890 3,773 117 3% Cost of sales (rebates) (638) (669) 31 (5)% Marketing (231) (166) (65) 39% Employee benefits (1,890) (1,443) (447) 31% Technology, communication and cloud costs (352) (258) (94) 36% Professional fees, consulting and other (437) (272) (165) 61% Research and development tax benefit 175 102 73 72% Total Expenses (3,373) (2,706) (667) 25% EBITDA 517 1,067 (550) (52)% Share based payments (188) (24) (164) 683% Depreciation, amortisation and finance costs (773) (664) (109) 16% Income tax expense (68) (224) 156 (70)% NPAT (512) 155 (667) (430)% For personal use only
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Cash Flow $’000 H1 FY26 H1 FY25 Cash flows from operating activities Receipts from customers 3,969 4,192 Payments to suppliers and employees (4,172) (4,181) Payments for Pharmx court case judgement - (9,898) Interest and other revenue received 68 117 Research and development incentive received, net of income tax paid 368 862 Net cash from operating activities 233 (8,908) Cash flows from investing activities Payments for property, plant and equipment (20) (18) Payments for intangible assets (1,027) (924) Disposal of discontinued operations, net of cash disposed and transaction costs - 1,255 Net cash used in investing activities (1,047) 313 Cash flows from financing activities Principal paid to lease liabilities (119) (52) Interest paid on lease liabilities (25) (7) Net cash from financing activities (144) (59) Net decrease in cash and cash equivalents (958) (8,654) Cash and cash equivalents at beginning of the period 4,172 13,136 Cash and cash equivalents at the end of the period 3,214 4,482 For personal use only
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Balance Sheet $’000 31 Dec 2025 30 Jun 2025 Current assets Cash and cash equivalents 3,214 4,172 Trade and other receivables 1,298 1,117 Income tax receivable 533 368 Other assets 182 101 Total 5,227 5,758 Non-current assets Property, plant and equipment 45 32 Right of use assets 641 774 Intangibles 11,789 11,790 Deferred tax assets 105 165 Security deposits 199 306 Total 12,779 13,067 Total assets 18,006 18,825 Current Liabilities Trade and other payables 938 1,211 Provisions 145 137 Lease liability 323 354 Unearned revenue 13 28 Total 1,419 1,730 Non-current liabilities Provisions 75 64 Lease liability 398 540 Deferred Tax liability 510 563 Total 983 1,167 Total liabilities 2,402 2,897 Net assets 15,604 15,928 Equity Issued capital 94,010 93,970 Reserves 392 244 Accumulated losses (78,798) (78,286) Total equity 15,604 15,928 For personal use only
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Share Registry Position Holder Name Holding % IC 1 LUJETA PTY LTD <MARGARET A/C> 99,863,502 16.66% 2 BNP PARIBAS NOMINEES PTY LTD 71,395,758 11.91% 3 ARROTEX INVESTMENTS HOLDING 1 PTY LTD 60,000,000 10.01% 4 BNP PARIBAS NOMS PTY LTD 34,486,805 5.75% 5 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 28,958,676 4.83% 6 MERSAULT PTY LTD 26,766,667 4.46% 7 J P MORGAN NOMINEES AUSTRALIA PTY LIMITED 25,886,610 4.32% 8 MR JOHN LAGANA 15,621,734 2.61% 9 MR DAVID GERALD MANUEL & MS ANNE LEARY 14,666,667 2.45% 10 GINGA PTY LTD 14,414,488 2.40% 11 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 10,384,964 1.73% 12 CANCELER PTY LTD 10,200,000 1.70% 13 MRS PENELOPE KING 10,000,000 1.67% 14 GABODI PTY LIMITED 7,197,334 1.20% 15 GC RETIREMENT FUND PTY LTD 6,166,667 1.03% 16 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 5,279,562 0.88% 17 MR GEORGE JOHN KOUNIS & MRS AMANDA ELISE KOUNIS 5,000,000 0.83% 17 MR DAVID GERALD MANUEL & MS ANNE LEARY 5,000,000 0.83% 18 MR MALCOLM JOHN BADGERY 4,859,600 0.81% 19 GINGA PTY LTD 4,759,919 0.79% 20 BNP PARIBAS NOMINEES PTY LTD 4,501,028 0.75% Total 465,409,981 77.63% Total Issued Capital 599,506,789 100.00% As at COB 18 February 2026 For personal use only