Mach7 Technologies (ASX:M7T) has released its financial results for the first half of FY26 ended Dec. 31, 2025, revealing a period of structural transition under new CEO Teri Thomas.
The healthcare software company reported total revenue of $13.7 million, representing a 23% decline compared to the prior corresponding period.
The downturn was primarily attributed to a reduction in one-off capital licence deals, customer churn, and lower professional services revenue.
Despite the dip in top-line figures, the company’s shift toward a more predictable business model is evident, with recurring revenue climbing to $11.6 million, now accounting for 85% of total revenue and covering 78% of operating expenses.
On the expenditure side, Mach7 reduced operating expenses by 6% to $14.8 million, driven by a streamlined headcount and the realisation of broader operating efficiencies.
The company maintains a solid capital position with $18.5 million in cash and zero debt, though this is down from $23.1 million in June 2025.
Highlights from the half-year include the launch of the Flamingo architecture, which secured its first contract in December 2025, and the implementation of the "Flight Crew" model to bolster customer engagement.
CEO Teri Thomas emphasised that the past six months were dedicated to resetting the company’s strategy and optimising its cost base.
At the time of reporting, Mach7 Technologies' share price was $0.34.