ALCIDION GROUP LIMITED (ALC)
Share Price Analysis and Chart

20/08/2026

1

Buy

$0.15

56.25%

Cost discipline and improving operating leverage were key positives from Alcidion's FY26 result, with EBITDA of $6.2m beating guidance of more than $5m and Bell Potter's $5.8m forecast. Underlying EBITDA rose 34% to $6.8m.

Staff costs fell to 53% of revenue from 65% in FY25, ARR climbed to $38.3m from $31.1m at December 2025 and the company finished debt free with $20.6m cash.

Contracted FY27 revenue stands at $44.9m, up $10.9m y/y. The analyst points out its forecast requires only $10.2m of additional revenue wins during FY27 versus $17.6m achieved in FY26.

The broker makes modest earnings downgrades but sees further contract opportunities across new geographies, expansion with existing UK and Australian customers and additional EPR awards. Buy retained with an unchanged $0.15 target.

FORECAST
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.20 cents.
Bell Potter forecasts a full year FY28 dividend of 0.00 cents and EPS of 0.30 cents.

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

21/08/2026

1

Buy

$0.14

45.83%

Canaccord Genuity maintains a Buy rating for Alcidion Group with an unchanged price target of $0.14 as annual recurring revenue increasingly covers the operating cost base.

FY26 sales execution remained strong with $78.5m of new and renewal total contracted value signed, while annualised recurring revenue reached an exit rate of $38.3m.

The analyst notes that recurring revenue now fully covers the operating cost base, creating a valuation premium and strategic flexibility for future growth.

Management expects FY27 performance to exceed FY26, supported by robust revenue visibility and ongoing contract wins across domestic and international healthcare markets.