Earnings call transcript: MedAdvisor Q3 FY2025 sees revenue decline, strategic shifts

Published 30/04/2025, 01:12
 Earnings call transcript: MedAdvisor Q3 FY2025 sees revenue decline, strategic shifts

MedAdvisor Limited reported a significant decline in its Q3 FY2025 financial performance, with revenue and gross profit both decreasing by 49-52%. Trading at $0.06 per share with a market capitalization of $36.49 million, InvestingPro analysis suggests the stock is currently undervalued. Despite these results, the company is optimistic about future growth, forecasting a 15% increase in group revenue for FY2026. The company is undergoing a substantial restructuring, including a headcount reduction and a new patient engagement platform launch planned for Q2 FY2026.

Key Takeaways

  • Revenue and gross profit fell by 49-52% in Q3 FY2025.
  • MedAdvisor raised $5 million in new equity after the quarter ended.
  • The company plans a 15% group revenue growth in FY2026.
  • A next-generation patient engagement platform is set for launch in Q2 FY2026.
  • Significant cost reduction measures are in place, including workforce cuts.

Company Performance

MedAdvisor’s Q3 FY2025 results reflect a challenging period, with revenue and gross profit both experiencing a sharp decline. The company’s last twelve months revenue stands at $64.16 million, with a gross profit margin of 19.53%. The company is actively addressing these challenges through strategic initiatives aimed at reducing costs and driving future growth. Despite the disappointing quarter, MedAdvisor remains a market leader in Australia and New Zealand, reaching 98% of prescription patients and maintaining strong relationships with 95% of pharmacies. InvestingPro subscribers have access to detailed financial health metrics and exclusive analysis that provide deeper insights into the company’s performance.

Financial Highlights

  • Q3 FY2025 revenue and gross profit: Declined by 49-52%
  • Raised $5 million in new equity post-March
  • Operating expenses forecasted to decrease over the next two fiscal years

Outlook & Guidance

MedAdvisor’s outlook remains cautiously optimistic. The company forecasts a 15% group revenue growth in FY2026 and aims for positive EBITDA performance. Operating expenses are expected to decline significantly, from $67.4 million in FY2024 to $54.5 million in FY2026. The launch of a new patient engagement platform in Q2 FY2026 is expected to enhance operational efficiency and reduce costs.

Executive Commentary

CEO Rick Ratliff expressed disappointment with the Q3 results but highlighted the company’s undervaluation in the market. He stated, "We are forecasting group revenue growth of around 15%, coupled with meaningful margin expansion." Ratliff also confirmed that the company is exploring strategic options, including a potential business sale, and emphasized that MedAdvisor’s market position remains strong.

Risks and Challenges

  • Continued revenue decline: If the downward trend persists, it could impact future growth plans.
  • Competition: Increasing competition in the digital and omnichannel pharmacy solutions space.
  • Market shifts: Changes in pharmaceutical spending patterns towards digital engagement could affect traditional revenue streams.
  • Operational restructuring: The ongoing restructuring may pose short-term disruptions.
  • Regulatory challenges: Navigating the ASX suspension and other regulatory hurdles could impact investor confidence.

MedAdvisor’s strategic initiatives and cost-cutting measures are designed to position the company for future growth, despite the current challenges. Investors and stakeholders will be watching closely to see how these plans unfold in the coming quarters.

Full transcript - Medadvisor Ltd (MDR) Q3 2025:

Sarah Sweeney, SVP of Global Marketing, MedAdvisor Limited: Hello, everyone, and welcome to MedAdvisor Limited’s results briefing for 03/2025. My name is Sarah Sweeney, and I support MedAdvisor Solutions as SVP of global marketing and will be your moderator today. Joining me is Rick Ratliff, who is CEO and managing director. Hello, Rick.

Rick Ratliff, CEO and Managing Director, MedAdvisor Limited: Hey, Sarah.

Sarah Sweeney, SVP of Global Marketing, MedAdvisor Limited: Also joining us is Ansula Desai, who is MedAdvisor’s CFO. And hello, Ansula. Hello. The format for today is that Rick and Ansula will walk you through the results released this morning, which should take around fifteen to twenty minutes. This will be followed by a ten to fifteen minute question and answer session.

I will then pass it back to Rick for closing remarks. If you’d like to ask a question, please click on the Q and A tab in the ribbon below and type your question, or click the raise hand icon, and I will notify you when it is your turn. We will get through as many questions as we can in the time that we have allotted. Please be aware that our presentation may not yet be available on ASX but will be uploaded shortly. I would now like to hand the floor to Rick who will get us started.

Rick Ratliff, CEO and Managing Director, MedAdvisor Limited: Okay. Very good. Thanks, Sarah, and, good morning, everyone. Thanks for joining us today for our 3Q FY ’twenty five update. If we’ll go to slide three, Karika.

As many of you will have read our guidance, update released earlier this month, today’s result, carries many of the themes, discussed in that update. As the slide title says here, we’ve indeed experienced some headwinds through the period largely in The US business. With that said, we’ve been working diligently in the background, positioning the business to take advantage of some tailwinds, and, we’ll talk you through, that today. So let’s first review some of the highlights of the key, of the quarter, and I’ll start at the group level. Trading conditions, experienced, particularly in, in February, I’m sorry.

February continued into the third quarter. The result this resulted in revenue and gross profit declines of 4952%, respectively, and I’ll expand on the reasons for this, in a moment. To address the decline in business activity and also prepare the business to capitalize on the current, market trends, we announced on April one of this year that we are fast tracking the restructuring of our US commercial sales team and accelerating our cost reduction program. And I’m again, I’m gonna expand on this, shortly. The strategic options review that we announced in November, which focused on maximizing shareholder value, is progressing well.

While no final decisions have been made, the company has received strong interest in both our Australian and US businesses. And, again, we’ll expand on that a little bit further later, but we do expect to complete the review by the June 30 of this year. Post March close, as many of you know, we took the opportunity to successfully raise $5,000,000 in new equity, which included participation from key institutional shareholders as well as from members of the board. These funds will be used to continue executing the strategic and cost optimization initiatives and to assist with working capital requirements. Also, in early April, we provided f y twenty five guidance, and, we will reiterate that today, and we’ll go into more detail later in the presentation.

In April, Linda Jenkinson, our chair of three years, decided to step down from the board to pursue other opportunities and priorities in The United States. She has been replaced by Kate Hill as the interim chair. And I do wanna thank Linda for her leadership and contribution during her time, at MedAdvisor. So moving to The US business. We continue to experience short term headwinds due to continued budgetary pressures from key pharma clients across vaccine and nonvaccine categories.

On a positive note, there continue to be there continues to be solid support for both our Thrive and digital patient programs. Looking ahead, we’re confident in the breadth and depth of our pipeline. We’ll talk more about that later. In the fourth quarter of FY twenty five and first, half of FY twenty six are shaping up for improved conditions, with a stronger representation across pharmaceutical manufacturers, brands and categories. Importantly, we’ve continued, I’m sorry.

We’ve contracted around 90% of the lower end of our revised guidance, for FY ’twenty five. Looking at Australia, the recent softness in performance in Australia largely reflects, timing of health program delivery and strategic changes that we’ve made with our SaaS platform pricing pricing model, which we expect will deliver long term benefits to MedAdvisor while better aligning with our pharmacy, clients’ patient engagement activity. As we transition towards implementing a transaction based fee structure, we’re already seeing solid benefits with third quarter transaction fee revenue up 12% on the prior corresponding period. Full migration of Medivisor for pharmacy is expected to be achieved during this quarter, and, this will enhance our ability to deliver, platform enabled services and scalability over time. And we’re also continuing to build momentum with expanded scope of, practice, offerings in, in that initiative and positioning MedAdvisor as a key enabler and supporter of broader pharmacy led health care delivery.

We’ll turn to slide four. I just I wanna spend a few minutes, talking about the, the challenges that we faced in f y twenty five and, outline how we’re positioning the business for growth and, the opportunities ahead. So firstly, I do wanna acknowledge that our US commercial business is has significantly underdelivered. Growth has been constrained for a variety of reasons, predominantly due to low sales engagement, talk about more, limited customer diversification in a historically, you know, inexperienced sales team. Our account management approach has been, too operational in the past, and, we our innovation across the pharmacy network has, has lagged.

So we’ve but we’ve taken, swift and focused action. We’ve restructured the sales team, bringing in experienced leadership in f y twenty five and moving out underperformers. We’ve also revamped our customer success function, streamlining the headcount and reorganizing for greater efficiency and impact, and we’ve reshaped the pharmacy network team to sharpen its strategic focus. In parallel, the broader pharma landscape is shifting. Reduced vaccination rates led to sudden budget cuts as we’ve discussed in prior, updates.

Buyers are moving forward towards a direct to consumer model, stretching our sales cycle and impacting contract values. Both direct and indirect competition in digital and omnichannel spaces intensifying in The United States, and marketing budgets are being reallocated to what we call specialty medications. But I think with these same dynamics and challenges, we are seeing new doors open and new opportunities, we believe, in front of us. So our Transformation three sixty program is progressing well, with the next generation platform set to be, launched in 2Q of FY twenty six. This will dramatically reduce fixed cost and position us well for the anticipated growth we’ll talk about later.

We’re seeing early signs of a vaccination rebound expected to really be seen in the August, September time time frame of f y twenty six. And with specialty medications, as I mentioned a minute ago, now accounting for over sixty percent of consumer spending on medications in The United States, we are starting to identify, creative opportunities within our pharmacy network and see some significant upside with specialty medications. Pharma is clearly shifting, as I mentioned, the spending towards digital engagement solution, and that’s where we’re investing in our future platform and focusing our efforts with our pharmacy network. And so we believe that this is going to position us well for growth as we move into the future. So while the path hasn’t been without its hurdles, we’re putting the right building blocks in place, and we’re confident The US business is well positioned for growth as we move into the fourth quarter and first part of FY twenty six.

So if we go to the next slide, drilling down further into The US business, we are laying the foundation for accelerated revenue growth and margin expansion as we head into FY twenty six. We’re driving a number of strategic initiatives to unlock even more value. We’re optimizing our sales cycle to improve conversion and reshaping our go to market approach to accelerate growth. Critically, we’re accelerate we’re executing on a triple layered diversification strategy by brand and manufacturer across therapeutic categories and even within those categories. So in in July 26, we’ll launch the, our next generation patient engagement platform in The US, and this is a key lever in our strategy to lift gross margins and strengthen our customer value.

So in terms of The US outlook, while trading conditions did remain challenging through q three, we’re anticipating a stronger q four. We expect to deliver between $14,000,000 and $18,000,000 in revenue for the second half of FY twenty five. Pipeline conversion from January through today, is trending ahead of the same period in FY twenty four with more than 90% of the lower end of our revenue guidance already contracted. So if we look at the pipeline more closely, we’re sitting at around $25,400,000 in 4Q I’m sorry, in second half FY ’twenty five, spread across vaccines, general medications and specialty medications. And looking into, FY ’twenty six, in the first half, we have a solid pipeline.

We are believe we’re in good shape for solid performance with around a 80,000,000 in that in the pipeline across general medications, vaccines, and specialty medications with good diversification across both manufacturers and brands. So we now have a significantly larger, more varied pipeline, as you can see on the slide, And, we’re forecasting around 15% organic growth in FY ’twenty six. So now let’s focus for a few minutes on A and Z business. Excuse me. We’re a clear market leader in, with a proven track record of performance and strong foundation for continued growth in Australia and New Zealand.

This business has delivered a four year compound annual growth rate of 22.6%. And today, MedAdvisor reaches ninety eight percent of patients accessing prescriptions across Australia. We’re trusted by 95% of pharmacies, and 72% of our revenue in the region is is, from recur is recurring. So we see this as a strong signal of the value of the business and the platform in Australia and New Zealand. Looking ahead, we’re focused on a number of strategic initiatives to strengthen our leadership position.

We’re continuing to restructure our pricing by standardizing our SaaS fees to ensure consistency and scalability. At the same time, we’re expecting to leverage recent a recently announced women’s health initiative to accelerate return on investment from our expanded scope of practice programs. And we’re also completing the migration to the new MedAdvisor for pharmacy platform, which is a major milestone that will improve functionality, ease of use, and operational efficiency for our pharmacy customers. There are clear pathways for future growth in Australia and New Zealand. We’re increasing transaction fees to better align with value we deliver for our customers.

We’re expanding pharmacy solutions, including telehealth, to meet, our, patient expectations through, interactions with their pharmacies. Additionally, we’re unlocking new monetization opportunities through our expanded scope of practice programs, as I mentioned earlier, and we’re enhancing our AI driven workflow solutions to further streamline pharmacy operations. The combination of strategic focus, strong fundamentals, and clear growth levers give us confidence in the A and Z business continuing to deliver well into the future. So we’ll turn to Slide seven. So I now want to provide a brief update on our accelerated cost out program as we described it, which was announced on April 1.

This program, alongside our Transformation three sixty initiative, is set to deliver approximately $13,000,000 AUD in savings between FY ’twenty four and FY ’twenty six. In FY ’twenty five, we expect total savings of $4,500,000 rising to $8,400,000 in FY ’twenty six. And these savings come from two key areas: our Transformation three sixty program contributing $1,400,000 in savings in FY ’twenty five and $5,000,000 in FY ’twenty six And the new, targeted cost out measures, have already been implemented, will deliver a further $3,100,000 in savings and three point I’m sorry, and $3,400,000, respectively, between ’25 and ’26. As part of this reset, we’ve, implemented a significant but necessary headcount reduction. This is always very challenging, but we have, reduced our headcount in The United States by around 44% and in a and z around 15%.

This is designed to align our resources more closely with strategic priorities in the current market conditions current and expected market conditions. So overall, we forecast a steady decline in operating expenses from $67,400,000 in FY ’twenty four to $62,900,000 in FY ’twenty five and further down to $54,500,000 in FY ’twenty six. At the same time, management and board remain significantly focused on both external environment and our internal performance, and we stand ready to act with further agility if conditions require. So if we’ll go to the next slide. On November fourteenth of last year, we announced our strategic options review process aimed at addressing what we believe is a clear disconnect between MetaVisor Solutions’ market valuation and the underlying value of our Australian and US businesses.

While no final decisions have been made at this stage, the process does continue to evolve in line with our commitment, to main maintaining our leadership position in pharmacy driven patient engagement. MedAdvisor has received multiple proposals relating to both the ANZ and US businesses validating our view, that the company remains materially undervalued. We will advise the market if and when any initiatives or proposals require disclosure with an expectation to, bring the majority of the process to closure at the June this year. So if we move to Slide nine, focusing on the outlook and starting with, FY ’twenty five guidance table on the right hand side of the slide, you’ll see that there are no changes to the guidance since our update we provided on April 1. Looking ahead, we believe that MedAdvisor is well positioned for strong growth and improved profitability.

So to recap, in The U. S, we’ve reshaped and strengthened the sales organization to both derisk and accelerate revenue growth, ensuring greater pipeline greater discipline, I’m sorry, better customer engagement, and more consistent delivery. We expect our next generation patient engagement platform will be a key lever in our strategy to expand gross margins and offer differentiated value to pharma customers and patients alike. In a and z, we continue to see strong momentum with enhanced fee models and new service offerings driving sustained growth. Our presence is unmatched, and we are unlocking more value through expanded pharmacy services and digital innovation.

And across the group, our focus on targeted cost reductions and business optimization will further support operating leverage, helping us scale more efficiently and improve profitability. So looking into FY ’20 ’6, we are forecasting group revenue growth of around 15%, coupled with meaningful margin expansion, a sign that our strategy is working and that we’re building a business with long term strength and scalability. So with that, I do want to thank everyone for your time today, and I’ll, hand it back to Sarah to start the Q and A for the time remaining. Sarah?

Sarah Sweeney, SVP of Global Marketing, MedAdvisor Limited: Thank you very much, Rick. Again, if you would like to ask a question, you can either click on the Q and A tab in the ribbon below and type your question in the box. Or if you’d like to ask a question directly, please click on the raise hand tab, and I’ll notify you when it’s your turn. We already have several questions in queue, and, I’d like to start with Thomas from Bell’s.

Rick Ratliff, CEO and Managing Director, MedAdvisor Limited: Is Thomas off mute? I don’t think there’s any questions There you go. From Thomas’ side. You No. Sorry.

He’s, unavailable at the moment. Oh, okay. Thanks, Daniel.

Sarah Sweeney, SVP of Global Marketing, MedAdvisor Limited: Apologies. Let’s see. We have a question from Alan. Rick, thanks for the presentation. Obviously, the share price has dropped significantly in recent months.

Is this the view within MedAdvisor that the market is undervaluing the true value of the company?

Rick Ratliff, CEO and Managing Director, MedAdvisor Limited: Thanks for the question, Alan. Absolutely. The even at the point we launched the strategic review process, while the stock pry the share price was higher at that point in time. This was in November of twenty twenty four. At that point in time, we felt like the, the company was being undervalued, as a whole and and particularly as a part as a components, both Australia and The US.

That was the reason for launching the process. Through the process, we’ve had a number of, discussions with, both strategic investors and other types of investors in The US and Australia based on the feedback we’ve received and the, you know, nonbinding offers, if you will, at this point. We’ve definitely been able to validate that the market is currently undervaluing the business and has for some time.

Sarah Sweeney, SVP of Global Marketing, MedAdvisor Limited: Thank you, Rick. We have a question from Steven. Can you please provide background and an update to the current ASX suspension?

Rick Ratliff, CEO and Managing Director, MedAdvisor Limited: Sure. Ansley, do you wanna answer that Yes. Please?

Ansula Desai, CFO, MedAdvisor Limited: I can take that. And there are actually a couple of questions on that. So just to address the trading halt and suspension, there was an administrative error where there was a delay in lodging the cleansing notice. The cleansing notice needs to be lodged within five days of issue of shares, which was the April 8. This is for the capital raise.

So what we’ve had to do is we’ve had to go to court and get clearance for this. The application has been lodged. We have a hearing on Friday morning. So as per the ASX announcement that we put out yesterday, we expect to come out of suspension on Friday. As soon as the court hearing has taken place, which is first thing Friday morning, we will provide an update to the ASX, and we hope to come out of trading hall slash suspension soon after.

Sarah Sweeney, SVP of Global Marketing, MedAdvisor Limited: Thank you, Ansula. Looking for other questions. Okay. We have just received confirmation that our appendix four c and presentation are now up on the ASX. One we have time for one more question.

Rick, what is the company intention with the sale of proceeds in the business division?

Rick Ratliff, CEO and Managing Director, MedAdvisor Limited: If I understand the question correctly, what I would I think what we could say at this point is that, the strategic evaluation process is primarily focused into determining the, or assessing the value the overall value of the business and determining where the gaps in that value reside. The result could be any combination of transactions, which would then likely create funds for for both bringing down the debt as well as, addressing growth initiatives where where appropriate. So, that would but at the end of the day, that depends upon what the final, transaction or set of transactions might look like, and that’s still yet to be determined. But we expect to be providing more information on that in June.

Sarah Sweeney, SVP of Global Marketing, MedAdvisor Limited: Thank you. We have a question from Deepak. Is there any overlap with Strongroom AI? And given what has happened there, Is there a possibility of picking up some of their business or customers?

Rick Ratliff, CEO and Managing Director, MedAdvisor Limited: There’s, very little overlap with Strongroom AI. Their business was focused on a specific segment of documentation for certain kinds of, what I call scheduled medications that is required by the Australian government. That’s been the primary focus. There’s some elements of medication patient engagement that might overlap somewhat with what we do, but, they’ve gone through an administrative process where there are entities that you can you can look this up on, on the Internet and see the latest, but there is an administrator that’s been assigned. And, there’s a number of bidders for the asset, and, that asset could be the asset.

It could be broken up, etcetera, and that’s not been disclosed as to the specific direction. The assets itself would complement, what we provide to the market, but, all of the pharmacies that they are supposed to be supporting are pharmacies that are already in our network since we we support 95 close to 98% of pharmacies in in, in Australia.

Sarah Sweeney, SVP of Global Marketing, MedAdvisor Limited: K. Great. We have a question from Darren. Please, can you provide some color on interest from parties to purchase US operations?

Rick Ratliff, CEO and Managing Director, MedAdvisor Limited: I think all we can say at this point is that there are strategic parties in The United States that see value in The US platform as a complement to current business or as opportunity to expand into the pharmacy space. So it kind of runs the gamut of those of those areas. So in most cases, it’s, it’s really leveraging the the opportunity to to expand an ability to, reach patients through pharmacies. There are a couple of cases where the the, getting into pharma relationships and building and and accelerating the build out of pharmaceutical relationships, only for pharmacy but potentially other categories, could, could be a value add. So that’s probably about the most I can we can say at this point.

Sarah Sweeney, SVP of Global Marketing, MedAdvisor Limited: We have a question from Theo. With The US reduction of 44% in FTE count and considering US pipeline looks strong, is there a risk we don’t have boots on the ground to convert the program effectively? While I get the cost savings, you cannot save yourself to growth.

Rick Ratliff, CEO and Managing Director, MedAdvisor Limited: That’s a Theo, that’s a very fair point, and, it’s a it’s a very significant part of our analysis. Maybe what I should say, in relation to the changes that we’ve made. So the changes we made in the January time frame that reduced the headcount in The United States by over 22 people, about half to two thirds of those roles, either individually or in some other structure, were moved offshore. So there were additional roles that were, created, but they were created in a lower cost structure to run the business as usual while we’re, might while we’re building the new platform. So just so everyone’s aware, we are running our business in The US.

We have to support and execute to the point to your point, in The US on on our existing platform while we finalize the new platform, which will be launched in, in the this third so, I’m sorry, second quarter time frame of f y twenty six. And at that point, that as we move to that platform, that platform automates a lot of manual processes and, enables us to actually run the operations with fewer people much more efficiently at a higher quality and drive more scale. So there is, to your point, we are monitoring very, very closely where we may have, certain kinds of exposure to to cost, I’m sorry, to execution. And, and we that that’s gonna you know, that’s something we take a look at on a continual basis to ensure that the resources are there. As we scale back up, if we need to add in certain areas, we will.

But the intent is to optimize the structure and then ensure that we’ve got the right skills and expertise as we move to the new platform.

Sarah Sweeney, SVP of Global Marketing, MedAdvisor Limited: Thank you. In consideration of everyone’s time, this will be the last question, but please know that Rick and Ansula are available for questions later and offline. Richard has asked, can you please reiterate second half guidance? Is it for group revenues of US 14 to 18,000,000?

Rick Ratliff, CEO and Managing Director, MedAdvisor Limited: So the guidance has two elements. One is the is The US finish, which is 14 to 18,000,000 US. That is factored into the guidance that’s on the very last slide on, revenue, which is AUD from 93 to 99,000,000, and then the the other data on the EBITDA targets. That’s at the group level. So 14,000,000 to $18,000,000 US.

The other data is at the group level. K?

Sarah Sweeney, SVP of Global Marketing, MedAdvisor Limited: Thank you. And with that last question, I will hand it back to Rick for closing comments.

Rick Ratliff, CEO and Managing Director, MedAdvisor Limited: Okay. Yeah. Thank you. So, maybe a couple of things just real fast. I do wanna reiterate, we’re very disappointed in the results in the third quarter.

We’re very optimistic in the business and the business fundamentals, in the the momentum associated with pipeline conversion and continued buildup of the pipeline through a through today, April, and see some very positive signs as we start to move forward. We’re very confident in the commercial team structure that we have in place and execution on our plan as we move forward. While as Theo pointed out a moment ago, there are challenges in getting the cost down to a certain point, but it has been our plan to get cost down 20% or more. That’s been a part of the plan all along. We’ve accelerated that plan.

So we’re accelerating our cost reduction plan so that we can ensure that is even if we have moderate revenue growth in f y twenty six, we’re gonna see positive EBITDA performance. With that said, in Australia and New Zealand, I’ve mentioned the very strong platform that’s in place. 72% of our revenue is recurring. That recurring revenue business at the right cost structure, driving positive EBITDA, has significant value in Australia and an opportunity to grow significantly as Australia moves pharmacy from the role that pharmacists play today to a role that looks like, more of a general practitioner type role and, a participant in the broader health care system. So we’ve have very good confidence in both components of the business and, the future forward, and that’s been validated from, individuals as we’ve gone through our strategic options review.

So with that said, appreciate everyone’s time today. Thanks for joining us, and, we look forward to updating you as we move forward in the future. Sarah, back to you to finish up.

Sarah Sweeney, SVP of Global Marketing, MedAdvisor Limited: Thank you, Rick. I will add my thanks to everyone for joining us today. That wraps up our proceedings, and I invite you all to disconnect. Have a great day.

Rick Ratliff, CEO and Managing Director, MedAdvisor Limited: Thank you.

Sarah Sweeney, SVP of Global Marketing, MedAdvisor Limited: The recording has stopped.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.