Sydney, Feb 16, 2026, 17:11 AEDT — After-hours
Shares of Pro Medicus Ltd (ASX:PME) slipped another 1.1% to A$116.97 on Monday, deepening the slide for the medical imaging software maker. The stock has tumbled around 27% in just five sessions, and sits nearly 47% lower since January. 1
That’s significant: Pro Medicus has typically been valued as a high-flying growth play, with investors expecting consistent contract wins and seamless implementation. If that narrative gets disrupted, shares can react quickly.
Tuesday brings a familiar dilemma: is the selloff running its course or only catching its breath? Traders will be combing through new broker calls, watching for the slightest sign that installations are beginning to drive real billable numbers.
Shares kicked off Monday near A$118.30, swung up to A$121.32, then dropped all the way to A$113.69 before the session wrapped. 2
Pro Medicus posted A$124.8 million in revenue for the six months through December, according to its Feb. 12 interim statement. Underlying profit before tax climbed 29.7% to A$90.7 million. Statutory net profit after tax surged to A$171.2 million, boosted by an unrealised gain from the company’s 4D Medical stake. The board set a fully franked interim dividend at 32 Australian cents per share, with tax credits for eligible holders. CEO Sam Hupert said the group expects to deliver “another seven go-lives” by financial year-end. Seven fresh contracts landed in the half, worth at least A$280 million—among them, a A$170 million, 10-year agreement with University of Colorado slated to go live in May. 3
A “go-live” marks the moment a customer actually turns on the software in production—Pro Medicus starts recording revenue from that point. Certain contracts are structured around transaction-based licensing, so fees fluctuate depending on how many imaging studies get processed.
Traders are now zeroed in on execution, not chasing major headlines after the selloff. Plenty on the implementation calendar might offer some structure, though it does jack up the price of slipping up.
But there’s another side to this model. Scan volumes might taper off, timelines for implementation could get pushed back, and those one-time accounting bumps can just as easily swing the other direction. For a stock with a move like this, even minor setbacks can sting.
Mark Feb. 26 on the calendar: that’s when Pro Medicus shares go ex-dividend. Anyone picking up stock from that date won’t qualify for the 32-cent interim dividend, which is scheduled for payment on March 20. 4
