Alcidion FY27 trading update: $50.0M contracted revenue, up 38%
Alcidion Group (ASX:ALC) has released its FY27 year-to-date trading update, reporting contracted (sold and renewal) revenue of $50.0M as at 30 September 2026, up 38% on the prior corresponding period (pcp). Alcidion is no longer required to lodge quarterly Appendix 4C cash flow reports, and the company said it is committed to keeping the market informed through regular trading updates.
The update covers an expanded Northern Care Alliance NHS Foundation Trust (NCA) contract, the launch of Miya Patient Administration, an on-market share buy-back and reconfirmed FY27 guidance.
Key highlights
- $50.0M FY27 contracted (sold and renewal) revenue as at 30 September 2026, up 38% on pcp
- $7.5M Total Contract Value (TCV) over 3 years for the expanded NCA contract, with $4.5M expected to be recognised in FY27
- Health NZ MidCentral contract expanded to include Whanganui Hospital
- Miya Patient Administration announced, extending the Miya platform with an AI-enabled patient administration system
- On-market share buy-back of up to 10% of issued capital, alongside a proposed 10-into-1 share consolidation
- FY27 guidance for revenue and Underlying EBITDA to exceed FY26 reconfirmed
Kate Quirke, Managing Director and CEO
“FY27 has started strongly, providing further evidence of our land-and-expand go-to-market strategy…”
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Contract wins and expansion across the UK and New Zealand
Alcidion’s operational update centred on two expanded contracts, alongside progress in new markets and the integration of its Kyra flow products business.
Northern Care Alliance delivers $7.5M TCV
The expanded NCA contract carries a TCV of $7.5M over 3 years, with options to extend up to 5 years. It moves the Trust from existing ExtraMed Flow products to Miya.
Miya is to be deployed at Salford Royal Hospital, replacing the Trust’s existing ExtraMed patient flow solution, and at additional sites within NCA. With a rapid implementation planned, the contract is expected to deliver $4.5M of revenue in FY27.
Kate Quirke said the contract serves to increase Annual Recurring Revenue (ARR) and continues to validate the rationale for Alcidion’s acquisition of ExtraMed in 2021.
The Miya Flow rollout across Greater Manchester hospitals reflects the land-and-expand model in practice, with the Trust choosing to deepen its existing relationship rather than tender for an alternative vendor.
Health NZ MidCentral adds Whanganui Hospital
The Health NZ MidCentral contract was expanded to include an additional site, Whanganui Hospital. MidCentral has used Miya since 2018 and was Alcidion’s first Miya customer in New Zealand.
Extending Miya to additional hospitals is expected to give the central region visibility of capacity across multiple hospitals.
New markets and Kyra integration
In Canada, the pipeline continues to build, and Alcidion is investing in a dedicated, full-time business development manager in the region. In the Middle East, discussions are progressing with prospective resellers to provide on-the-ground sales and implementation capability for Miya.
Integration of the Kyra flow products business, acquired on 29 June 2026, is progressing well. Customer support and product support, initially supplied under a transition services arrangement, have all transitioned to Alcidion, and cost synergies are being delivered over the course of FY27. Discussions with select customers about expanding their use of the broader Miya platform are progressing well.
| Contract | Market | Scope | Value or status |
|---|---|---|---|
| Northern Care Alliance | UK | Miya at Salford Royal Hospital, replacing the existing ExtraMed patient flow solution, plus additional NCA sites | TCV of $7.5M over 3 years, options to extend up to 5 years; $4.5M expected in FY27 |
| Health NZ MidCentral | New Zealand | Contract expanded to include Whanganui Hospital | n/a |
Why patient administration matters: Miya Patient Administration explained
A patient administration system (PAS) is the software hospitals use to manage administrative steps in a patient’s care, such as referrals, bookings, waiting lists, and bed and theatre capacity. Alcidion said Miya Patient Administration targets a significant replacement opportunity created by ageing PAS across healthcare.
The product is designed to shorten the time from referral to booking, keep waiting lists validated and prioritised as they change, give earlier sight of bed and theatre capacity, and reduce duplicate data entry. Leveraging FHIR standards, it integrates in real time with other hospital systems.
Hospitals can natively start with the patient administration modules and add other Miya solutions over time, or add it to an existing Miya deployment. It is applicable across all of Alcidion’s current geographies.
Miya Patient Administration is built from the ground up on the Miya platform and draws on the PAS experience and customer engagement gained through PCS. Alcidion said that, based on engagement with current and prospective customers, it sees a significant market opportunity.
Kate Quirke, Managing Director and CEO
“We know patient administration is an area where AI can add considerable value in automating tasks and providing significant efficiencies to the healthcare system. The investment we made in acquiring the PCS patient administration system via the Silverlink transaction gives us the foundation of intellectual property onto which we can deploy modern coding capabilities to rapidly produce a state-of-the-art patient administration function built for today’s healthcare system…”
Capital management: buy-back and share consolidation
Alcidion said its Board has greater flexibility to implement strategies that drive shareholder value in line with a defined capital allocation framework. The framework balances investment in the Miya platform (such as Miya Patient Administration), expansion into new markets, potential strategic acquisitions and capital returns.
Two initiatives form part of that framework:
- An on-market share buy-back, announced on 27 October 2026
- A share consolidation, announced on 9 October 2026
On-market share buy-back (announced 27 October 2026)
The buy-back is for up to 10% of issued capital, equating to approximately 135 million ordinary shares (approximately 13.5 million shares following the Consolidation, if approved). The 10% limit is the maximum number of shares that may be acquired, rather than a target or commitment to purchase that amount.
The Board intends to use the buy-back selectively, where purchases are expected to deliver compelling value for shareholders and sufficient cash reserves remain to support operating requirements and growth priorities. Timing, number and value of shares purchased will depend on the prevailing share price, business and market conditions, available cash reserves and other investment opportunities.
Purchases may therefore be intermittent, and the company may suspend or terminate the program as circumstances and capital allocation priorities evolve.
Share consolidation (announced 9 October 2026)
Alcidion intends to consolidate its issued capital so that, subject to shareholder approval, every 10 shares will be consolidated into 1 share. The consolidation is intended to simplify the capital structure and make Alcidion more readily comparable with relevant listed peers.
It is also expected to support more efficient trading, as a higher share price reduces the minimum ASX price increment as a percentage of the share price. The consolidation will not alter the underlying value of shareholders’ holdings or their proportional ownership, other than minor changes resulting from the treatment of fractional entitlements.
Outlook and what happens next for Alcidion
Alcidion reconfirmed its FY27 financial guidance for revenue and Underlying EBITDA to exceed FY26. The company said it continues to deliver on its land-and-expand strategy across all core geographies and is confident of securing further new customers and module expansions over the remainder of the year.
The FY26 results showed $44.9M of contracted and renewal revenue already secured for FY27, which means the $50.0M now reported reflects roughly $5M of additional contracted revenue added since the year-end.
Demand for modern electronic patient records, patient flow and virtual care solutions continues to grow, according to the company, as health systems prioritise reducing wait times and making the best use of bed capacity.
Upcoming events stated in the update:
- The share buy-back is expected to commence on or around 10 November 2026 and continue for up to 12 months, unless completed or terminated earlier. The Board intends to use it selectively.
- The share consolidation of every 10 shares into 1 share remains subject to shareholder approval.
- New sales are expected to increase FY27 contracted revenue of $50.0M over the remaining 8 months of FY27.
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