Physitrack (Q3 Review): Staying on track with solid profitability and cash flow - Redeye

Redeye has updated its estimates following Physitrack’s Q3 2025 report, which was broadly in line with expectations. The quarter showed continued margin strength and solid cash flow generation, with the Lifecare division maintaining its position as the key profit and growth driver. Meanwhile, the Wellness division faced short-term headwinds from lower licence volumes, though management expects conditions to stabilise in early 2026. Overall, Physitrack continues to execute on its SaaS-led growth strategy with disciplined cost control and steady operational progress.

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