Sydney, Feb 23, 2026, 18:24 AEDT — The market is shut for the day.
Pro Medicus dropped 8.9% to A$115.30 on Monday, with the radiology software company’s slide extending, sending shares closer to their recent lows. 1
The stock ended just above its 52-week low of A$113.67, closing near the lower end of its A$115.30–A$127.58 range. It’s a sharp fall from the A$336.00 high reached earlier in the year. 2
The cash session wrapped, and now Tuesday will test if buyers step in after the drop — or if more investors, those who piled in during last year’s rally, get shaken out. No new statement came from the company on Monday to shed light on the sharp late move.
It’s been a rough ride: shares slipped 2.1% on Feb. 20 after jumping 5.0% the previous session. On Feb. 18, the stock had lost 2.4%, according to data. 3
Selling picked up after Pro Medicus dropped its half-year numbers earlier this month. For the six months to Dec. 31, the company posted revenue of A$128.9 million and profit hit A$171.2 million—though A$149.0 million of that was tied to fair value gains on other financial assets. On-market buybacks totaled A$10.14 million at an average of A$245.21 per share, and the board announced a 32-cent interim dividend due March 20. 4
Chief Executive Sam Hupert, speaking on the earnings call, was quick to highlight the growing excitement over automated image analysis in the industry. “We believe we are ideally positioned to leverage AI. It is a plus rather than a threat,” he said, adding that “forward revenue for 5 years, based on minimums, has broken through the AUD 1 billion mark.” The U.S. continues to dominate as Pro Medicus’s core market, Hupert noted, accounting for about 90% of revenue. 5
Investors are eyeing whether contract wins and rollouts keep stacking up fast enough to backstop the premium valuation Pro Medicus held last year. The company’s software handles medical image viewing and management. For growth, it’s all about landing big U.S. health systems—and getting them live in short order.
The risk swings both directions. Even whispers of slower contract signings, postponed go-lives, or tighter pricing terms might weigh on a stock that’s turned into a momentum play—one prone to sharp moves on even slight expectation shifts.
Coming up, Feb. 26 brings the ex-dividend date for the 32-cent interim payout—fully franked, so it includes those Australian tax credits. 6
