‘I don’t know why’: Pro Medicus CEO mystified by $16b share price rout
CEO Sam Hupert argues the company continues to deliver a strong pipeline of contracts and is well placed to excel in the AI age.
Radiology software provider and market darling Pro Medicus has now suffered a more than $16 billion hit to its market capitalisation over the past six months. But co-founder and CEO Sam Hupert isn’t sure why.
“Look, with share price. I always say share price has a mind of its own. And certainly, from our point of view, the business is the same as it was six months ago, but more progressed,“ he told Capital Brief.
Pro Medicus on Thursday reported a weaker than expected half-year result, generating a 29.7% jump in profit to $90.7 million, when excluding the performance of its investment in 4D Medical. Shares tumbled more than 20%, bringing the stock’s decline over the past six months to more than 56% compared to a slight gain for the broader market over that period.
But speaking to Capital Brief, Hupert said the result was in line with what the company had communicated to the market and “there wasn’t anything that happened in a negative sense at all”.
