Cost Execution & New Revenue Opportunities

Oneview will report HY26 results on Thursday 27th August 2026. A conference call will be held at 08:00 AEST on the same day. Registration link

• Improving operating cashflows: cash outflows improved 23% y-y (Fig 1) driven by tighter cost control and efficiency initiatives. The improvement is in-line with management guidance that OPEX for the company has peaked.
• Strong start to new revenue channel Management have stated that Oneview's new revenue channel hosting Epic MyChart Bedside TV on Bedside Hub (announced in May) is experiencing significant interest, which has resulted in a growing pipeline of Bedside Hub-related opportunities. Oneview is targeting the addition of ~3-4 new Bedside Hub customers during H2 2026. At current we have not factored into our estimates wins from Bedside Hub customers, and this would present upside to our current estimates.
• GPO opportunity on track: Oneview is engaged with one of the U.S.' ten largest health systems after being included in their GPO (Group Purchasing Order) earlier this year. Oneview expected to initiate projects with the health system during H2 2026, and presents a significant potential expansion pathway to more than 85 hospitals and 15k beds. As of Dec-25 Oneview had ~11.6k live beds.

Recommendation: ONE has derated over SaaSpocalypse concerns, which in our view are unfounded. We think ONE's customer profile & partnerships reflect a secular growth opportunity. Revenue growth is at an inflection point whilst management execution of OPEX control is being illustrated in the latest results.

Fig 1: Improving cash flows from cost control & efficiency

Source: Company data, Homodeus research