Clearbridge Health (1H3.SI) Q2 2025 Earnings Report

Clearbridge Health Limited reported Q2 2025 results that reflect a stable top line in a capital-light, asset-light diagnostics and clinics portfolio, but with an ongoing profitability challenge driven by fixed operating costs. Revenue for the quarter stood at SGD 2.46 million, flat versus the prior quarter, and gross profit was SGD 1.19 million with a gross margin of 48.38%. Despite the healthy gross margin, EBITDA was negative SGD 858k and net income came in at a loss of SGD 676.5k, signaling that SG&A and other operating costs remain a overhang on quarterly profitability. The loss per share was SGD -0.0004, with a weighted average shares outstanding of about 1.638 billion, underscoring a high-circle share base relative to earnings output.

Liquidity remains adequate on a current and quick basis (current ratio 1.733x, quick ratio 1.638x) but cash generation is muted (cash ratio 0.332x; operating cash flow per share SGD -0.0004). The company carries low absolute leverage (debt ratio 0.0804x, debt-to-equity 0.119x) which provides a cushion against financing risk, but the business has limited free-cash-flow generation (free cash flow per share SGD -0.00041) and a negative cash flow-to-debt signal. In the near term, the key to turning this trajectory is revenue expansion paired with cost discipline to unlock operating leverage. Management commentary from the earnings call is not captured in the provided transcript data, so no direct quotes are available to corroborate strategic pivots. Investable takeaways hinge on how the company scales high-margin service lines and optimizes SG&A as patient volumes recover or diversify across geographies.

Overall, the QQ2 2025 quarter demonstrates resilience in gross margin amid a plateauing top line, but the path to sustained profitability will require a clear cost-structure optimization plan and a credible, near-term revenue growth trajectory.