Third Age Health Services Limited Analysis

Overview

Third Age Health is a provider of primary care services to the aged residential care ("ARC") sector and, through Hawkes Bay Wellness Centre, the general population. Third Age Health provides these services by way of both physical attendances and offsite service provision.

Third Age Health primarily generates revenue through its services under contracts for service with ARC providers, who pay fees to Third Age Health according to those contracts. Third Age Health also generates revenue when we enrol a patient into our practice, or when we provide services through our primary care medical centre. In order to generate revenue, Third Age Health must have two things: patients who want us to provide them services, and suitably qualified healthcare personnel willing to provide services to these patients.

Performance

The following information was extracted from Third Age Health Services Limited's Market Update, released on 31 July 2026:

Q1 FY27 Business Highlights - Unaudited Financial Performance

• Services provided to 124 Aged Residential Care (“ARC”) facilities at the end of Q1 up 34 or 37.8% YoY2.

• The enrolled patient population across both ARC and General Practice at the end of Q1 increased YoY by 2.1% to 26,308 including acquisitions. Excluding acquisitions, our combined enrolled patient population declined by 2.0% YoY with growth of 2.5% in ARC slightly offsetting a 6.7% YoY decline in general practice enrolments.

Q1 FY27 Financial Highlights (Unaudited)

• Group revenue up 20.9% YoY to $6,082k for the quarter and up 3.8% over Q4 FY26 (Q1 FY26: $5,031k, Q4 FY26: $5,858k)

• Revenue from ARC-related business up 33.2% YoY to $4,223k and up 5.0% over Q4 FY26 (Q1 FY26: $3,171k, Q4 FY26: $4,021k).

• NPBTA3 up 35.5 % YoY at $1,362k and up 8.5% over Q4 FY26 (Q1 FY26: $1,005k, Q4 FY26: $1,255k)

• NPATA up 36.3% YoY to $1,025k and up 12.4% over Q4 FY26 (Q1 FY26: $752k, Q4 FY26: $912K)

• Statutory NPAT4 up 33.1% YoY to $865k and up 14.9% over Q4 FY26 (Q1 FY26: $350k, Q4 FY26: $753k)