Highlights

  • Revenue for HY26 reached GBP 59.5m, a 17% increase compared to HY25.
  • Adjusted EBITDA declined to GBP 8.3m, reflecting national insurance rises and plc costs.
  • HY26 acquisitions expanded geographic presence and mental health service capabilities.

Optima Health Plc (LSE:OPT) released unaudited interim results for the six months ended 30 September 2025. The Group reported revenue of GBP 59.5m, up 17% from GBP 50.8m in HY25. Adjusted EBITDA was GBP 8.3m, down from GBP 8.7m in the prior period, primarily due to national insurance increases and plc costs. Cash generated from operating activities reached GBP 6.5m, compared with an outflow of GBP 0.6m in HY25.

Statutory results show EBITDA of GBP 7.6m (HY25: GBP 4.8m) and an operating profit of GBP 2.0m (HY25: loss of GBP 0.4m). Net debt, excluding lease liabilities, increased to GBP 4.7m (HY25: GBP 0.6m), comprising GBP 8.3m in cash and GBP 13.0m in debt.

Acquisitions and Market Expansion
During HY26, Optima completed two acquisitions:

  • Cognate Health Limited: Acquired in April 2025 for up to EUR 9m and rebranded as Optima Health Ireland, marking the Group’s first international acquisition.
  • Care first Employee Assistance Business: Acquired from the Priory Group in June 2025 for GBP 15,000, adding approximately GBP 3.7m in annualised revenue.

These acquisitions extend Optima’s geographic presence and increase its service offerings, particularly in mental health support.

Contract Wins and Pipeline
New business contracts with an annualised value of GBP 1.9m were secured in HY26, with a further GBP 8.3m signed or at preferred bidder stage post period-end. Mobilisation is underway for a GBP 210m contract to deliver medical assessment services to the UK Armed Forces, in partnership with Serco. This contract is expected to generate over GBP 20m per annum from H1 FY27.

Operational Changes and Outlook
Optima has initiated a transformation programme aimed at improving platform efficiency, operational delivery, and margins. Investments in technology are intended to enhance service delivery while reducing operating costs. The Group’s medium-term objectives remain revenue of GBP 200m and adjusted EBITDA of GBP 40m, supported by both organic growth and acquisitions.

Share Price Snapshot
OPT was trading 0.52% higher at GBX 193.50 per share as of 10 December 2025.