Vitura Health chief executive Geoff Cockerill says the company's fundamentals are "back on track," with its fourth-quarter performance expected to meet all business targets.
A trading update from the company indicated that Q4 revenue growth for FY25 should support an annualised rise of 11%, while margins are forecast to improve by 3% and operational expenditure is expected to fall 10% — both in line with its FY25 goals.
Vitura also said earnings before interest, tax, depreciation and amortisation (EBITDA) is on track to grow 20% year-over-year.
Despite those signals, the company's full-year revenue is still expected to fall short of the 10% target set out in last year's strategic "reset".
Operational expenditure for the full 12-month period is also set to come down by only 3%, weighed down by costs tied to the acquisition of Candor Medical and the Releaf Group joint venture.
Back in February, Vitura acknowledged that its growth plans "might take a bit longer than expected."
Cockerill said progress through Q3 and into Q4 has been encouraging.
"Our strategy reset has now been in place for nearly 12 months and under a renewed leadership team, we're encouraged to see the benefits of our hard work starting to emerge," he said. "We've got the fundamentals of the business back on track and we're looking forward to continuing that momentum into the near and mid-term future."
Vitura reported that revenue and EBITDA grew consecutively across February, March and April, which the company said reflected "positive momentum in line with the company's stated objectives." It also noted that benefits from the Candor integration are "already evident."
The company added that it continues to bring new suppliers onto its Canview platform and is broadening the patient base of its Doctors on Demand service.
"The team is focused on leveraging the company's momentum to deliver a positive finish to FY25, setting the foundations to execute well against the company's strategy into FY26 and beyond," Cockerill said.
Vitura shares rose 4.16% to 7.5 cents in early Monday trading, putting the company's market value at A$47.68m.
