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- Alexium International Group (AJX) increased its cash receipts by 80 per cent over the first quarter of FY22, bringing in US$2.9 million (A$3.91 million)
- The cooling technologies business brought in US$2.6 million (A$3.5 million) in sales during the same period, a 20 per cent rise quarter on quarter
- AJX’s thermal regulation product BioCool experienced strong sales increases and the company expects that momentum to continue over the next two quarters
- The business ended September with $2.44 million worth of cash, having spend $379,000 on operating expenses, giving it enough funds to keep going for another 6 quarters
- Alexium International Group shares are up 6.98 per cent at 9.2 cents each at 2:02 pm AEDT
Alexium International Group (AJX) achieved its best ever sales over Q1 FY22, with cash receipts also hitting a new high.
The cooling technology business increased its cash receipts by 80 per cent over the September quarter, bringing in US$2.9 million (A$3.91 million).
Sales also rose by 20 per cent quarter on quarter, totalling US$2.6 million (A$3.5 million) at the end of the period.
AJX’s thermal regulation product BioCool was a star performer, experiencing strong sales increases during Q1.
Additionally, the company has begun expanding product applications for its Eclipsys cooling solution by moving into the body armour market.
Alexium CEO Bob Brookins said he expected this quarter’s sales momentum to continue over the next two quarters.
“This reporting period is a high point for the Company as we achieved the highest sales
and cash receipts since the management team began in 2018,” Dr Brookins said.
“The success from this reporting period is driven by only the Alexicool and BioCool product lines, and with the other three platforms at their own critical and near-term commercialisation phase, Alexium has much more growth ahead and that is where real success lies.”
The business ended September with $2.44 million worth of cash, having spend $379,000 on operating expenses, giving it enough funds to keep going for another 6 quarters.
Shares in Alexium International Group were trading up 6.98 per cent at 9.2 cents each at 2:02 pm AEDT.
