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- Healthcare tech stock Alcidion (ALC) is expecting to officially end FY21 in a strong position following a year of growth
- Based on current unaudited results, Alcidion is expecting to report revenue for the full year of between $25.6 and $25.9 million, a 38-39 per cent increase from last year and a record full-year result for the company
- Alcidion continued to build on the momentum through the second half, delivering revenue of $14.5 – $14.8 million
- Alcidion begins FY22 with $15.1 million of contracted revenue, 18 per cent higher than at the same time last year
- Alcidion is up 7.04 per cent at 38 cents per share at 10:36 am AEST
Alcidion Group (ALC) has ended FY21 in a strong position following a year of growth for the company.
Based on current unaudited results, Alcidion is expecting to report revenue for the full year of between $25.6 and $25.9 million, including 2.5 months of ExtraMed revenue. This is a 38-39 per cent increase from last year and a record full-year result for the company.
Following a strong first half of the year, Alcidion continued to build on the momentum through the second half, delivering revenue of $14.5 – $14.8 million, a 39- 42 per cent increase from this time last year.
During the fourth quarter, the company signed new contracts and renewals with a total contract value of $7.3 million. However the majority of the balance will be recognised in FY22.
Cash balance at the end of the period was recorded at $25 million.
Alcidion begins FY22 with $15.1 million of contracted revenue, 18 per cent higher than at the same time last year.
In April, the company signed a contract with The Australian Government’s Department of Defence. The contract aims to deliver a system that records, stores and analyses health information for the defence force to improve occupational care.
Commenting on the results Managing Director Kate Quirke said it had been a great year despite the COVID-19 pandemic.
“Alcidion has delivered a strong final quarter to close an exceptional year of growth … despite being generated in challenging circumstances under the backdrop of COVID-19, particularly in the UK,” Ms Quirke said.
“We have been able to increase market share across all our core geographies, signing important new and renewed contracts that provide a solid foundation heading into the new financial year.”
Alcidion was trading up 7.04 per cent at 38 cents per share at 10:36 am AEST.
