MedAdvisor Limited (AHE) AI Stock Analysis

• Market Cap: AU$12.74M
• Dividend Yield: N/A
• Average Volume (3M): 1.73M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.25
• Revenue Growth: -48.41%
• EPS Growth: -7200.00%
• Country: AU
• Employees: N/A
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Healthcare Information Services
• EPS (TTM): -0.11
• Shares Outstanding: 636,978,100
• 10 Day Avg. Volume: 474,818
• 30 Day Avg. Volume: 1,728,714
• PEG Ratio: <0.01
• Price to Book (P/B): 11.59
• Price to Sales (P/S): 0.19
• P/FCF Ratio: -0.85
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 39 Underperform
• Price Target: AU$0.02

The score is driven down primarily by weak financial health (sharp revenue decline, heavy losses, and negative equity), with technicals also pointing to a bearish trend despite oversold readings. Valuation provides limited support because a negative P/E reflects ongoing losses and there is no dividend yield data.

Positive Factors

Diversified revenue model

MedAdvisor's two-sided model—subscription/services to pharmacies plus fee programs for pharmaceutical brands—creates durable revenue channels tied to healthcare workflows. This structure supports repeatable sales, cross‑sell potential and demand from regulated pharma budgets over the medium term.

Improving free cash flow

An 18.49% improvement in free cash flow growth signals progress toward self‑funding operations and less reliance on external financing. Even with negative operating cash flow, stronger FCF trends can extend runway and support product investment or client retention initiatives over the coming quarters.

Platform and network advantage

A pharmacy-facing platform that links pharmacies, brands and consumers creates network effects: more pharmacies increase brand program value, which attracts more brands and consumers. This scale-based advantage supports durable win rates for program sales and long-term client stickiness.

Negative Factors

Sharp revenue decline

A near 40% revenue decline reflects material loss of demand or program volume, undermining topline stability. Such a steep contraction strains margin leverage, reduces pricing power with partners, and makes multi‑quarter recovery difficult without clear structural remediation.

Deep negative profitability

Extremely negative margins indicate the business is not covering operating costs from current revenues, limiting reinvestment and raising dependency on financing. Persistent negative EBIT/EBITDA constrains ability to scale sales or product R&D sustainably over the medium term.

Precarious balance sheet

Negative shareholders' equity and a distorted debt‑to‑equity ratio signal solvency risk and limited financial flexibility. This condition narrows access to capital, increases refinancing risk, and may force dilutive financings or cost cuts that impair long‑term strategic initiatives.

MedAdvisor Limited Business Overview & Revenue Model

Company Description

Adheris Health Limited, together with its subsidiaries, provides pharmacy-driven patient engagement solutions in Australia, the United States, and the United Kingdom. The company offers THRiV, an omni-channel platform which provides pharmacy-driven patient and pharmacist engagement solutions to improve medication management. The company was formerly known as MedAdvisor Limited and changed its anme to Adheris Health Limited in November 2025. The company was incorporated in 2010 and is based in Woburn, Massachusetts.

How the Company Makes Money

MedAdvisor generates revenue primarily through subscription fees from its digital health platform, which pharmacies and patients use to manage medications effectively. The company also earns money through partnerships with pharmaceutical manufacturers, where they offer targeted patient engagement services and promotional activities. Key revenue streams include fees from pharmacies for access to the platform, transaction fees for the sale of medications through its network, and income from data analytics services provided to healthcare stakeholders. These partnerships and services are crucial in driving the company's earnings and expanding its market presence.

MedAdvisor Limited Financial Statement Overview

Summary

Financial performance is very weak: revenue fell sharply (-39.23%), profitability is deeply negative (net margin -95.58% with negative EBIT/EBITDA margins), and the balance sheet shows elevated solvency risk with negative equity (debt-to-equity -10.75). Cash flow shows a small positive (free cash flow growth +18.49%), but operating cash flow remains negative.

Income Statement

MedAdvisor Limited's income statement reveals significant challenges. The company has experienced a substantial decline in revenue, with a negative revenue growth rate of -39.23% in the most recent year. Profitability metrics are concerning, with a negative net profit margin of -95.58% and negative EBIT and EBITDA margins, indicating operational inefficiencies and high costs relative to revenue.

Balance Sheet

The balance sheet shows a precarious financial position. The debt-to-equity ratio is extremely high at -10.75, due to negative stockholders' equity, highlighting financial instability and potential solvency issues. However, the return on equity is positive, suggesting some efficiency in generating returns from equity, albeit from a negative base.

Cash Flow

Cash flow analysis indicates some improvement, with a positive free cash flow growth rate of 18.49%. However, the operating cash flow remains negative, and the operating cash flow to net income ratio is also negative, reflecting ongoing cash flow challenges. The free cash flow to net income ratio is 1.0, suggesting that free cash flow is aligned with net income, albeit both are negative.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	39.19M	62.99M	122.11M	97.96M	67.75M	38.77M
Gross Profit	-471.01K	-135.06K	74.25M	59.41M	34.99M	21.31M
EBITDA	-37.56M	-57.25M	7.05M	-3.03M	-11.29M	-13.59M
Net Income	-39.37M	-60.21M	792.13K	-11.31M	-17.35M	-13.95M
Balance Sheet
Total Assets	39.84M	39.84M	98.78M	95.91M	78.57M	81.04M
Cash, Cash Equivalents and Short-Term Investments	10.30M	10.30M	15.58M	14.20M	7.58M	7.15M
Total Debt	17.40M	17.40M	12.61M	13.09M	13.41M	9.16M
Total Liabilities	38.79M	38.79M	47.20M	47.45M	51.40M	32.07M
Stockholders Equity	1.05M	1.05M	51.58M	48.46M	34.55M	48.45M
Cash Flow
Free Cash Flow	-9.17M	-14.37M	5.12M	-1.63M	-548.13K	-12.94M
Operating Cash Flow	-9.17M	-14.37M	5.19M	-1.45M	-236.32K	-12.54M
Investing Cash Flow	-1.37M	-2.18M	-2.80M	-3.23M	-290.79K	-43.36M
Financing Cash Flow	7.25M	11.34M	-831.97K	12.42M	1.86M	50.72M

MedAdvisor Limited Technical Analysis

• Last Price: ―

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:AHE, the sentiment is undefined. The current price of undefined is equal to the 20-day moving average (MA) of ―, equal to the 50-day MA of ―, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of ― indicates undefined momentum. The RSI at ― is undefined, neither overbought nor oversold. The STOCH value of ― is undefined, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a undefined sentiment for AU:AHE.

MedAdvisor Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

MedAdvisor Limited Corporate Events

Adheris Health Receives A$6.1m Holdback, Lifting ANZ Divestment Proceeds to A$33.1m

Adheris Health Limited has received the A$6.1 million holdback component from the previously announced sale of its Australian and New Zealand business unit to Jonas Software AUS Pty Ltd, taking total consideration received so far from the divestment to A$33.1 million. The transaction also includes an uncapped three‑year earn‑out arrangement, with the first potential payment due around July 2026, and early indications suggest the divested ANZ business is performing in line with expectations, supporting the prospect of further contingent proceeds and strengthening Adheris Health’s financial flexibility following its strategic exit from the ANZ market.

The most recent analyst rating on (AU:AHE) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on MedAdvisor Limited stock, see the AU:AHE Stock Forecast page.

Adheris Health Options Lapse, Trimming Potential Share Dilution

Adheris Health Limited has notified the market that a total of 15,862,199 options on issue have lapsed as of 31 December 2025 after the conditions attached to these securities were not, or could no longer be, satisfied. The cessation covers a large tranche of variously priced options, including several series expiring in July 2036, and results in a reduction of potential future dilution for existing shareholders while modestly simplifying the company’s capital structure.

The most recent analyst rating on (AU:AHE) stock is a Sell with a A$0.02 price target. To see the full list of analyst forecasts on MedAdvisor Limited stock, see the AU:AHE Stock Forecast page.

Adheris Health Seeks ASX Quotation for 456,554 New Ordinary Shares

Adheris Health Limited, listed on the ASX under the code AHE, has lodged an application for quotation of additional ordinary fully paid shares. The company is seeking quotation of 456,554 new ordinary shares to be issued on 16 January 2026, a routine administrative step that will increase the number of AHE shares tradable on the ASX and modestly expand its free float for existing and prospective investors.

The most recent analyst rating on (AU:AHE) stock is a Sell with a A$0.02 price target. To see the full list of analyst forecasts on MedAdvisor Limited stock, see the AU:AHE Stock Forecast page.