Alcidion grows contracted revenue to $50M

Alcidion Group (ASX:ALC) released a year-to-date trading update showing contracted revenue reached $50 million by late September.

The figure represents a 38% gain over the prior corresponding period, up from the $44.9 million in contracted revenue reported at the end of June.

"The expanded number of hospitals at NCA gives us a significant footprint in one of the larger NHS trusts, and we see further opportunity for Miya to add value over time," said Alcidion Group Managing Director Kate Quirke.

The company expanded its contract with Northern Care Alliance NHS Foundation Trust to $7.5 million over 3 years, with $4.5 million expected to be recognised in FY27.

Following the announcement, the Alcidion Group share price was up at $0.12.

The business extended its hospital management offerings by launching Miya Patient Administration, a modern platform designed to handle operational administrative tasks.

In addition, the management team reconfirmed full-year financial guidance, expecting total revenue and underlying profit before tax and depreciation to exceed previous full-year levels.