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- Alcidion Group (ALC) announces its Q4 FY23 results, showing strong growth in operating cash flow and new sales
- The company secures a renewal contract with existing customers and forms a strategic partnership to enhance patient outcomes
- Alcidion remains confident in future growth opportunities and enters FY24 with substantial contracted revenue.
- The company secured $7.3 million in new sales in Q4
- ALC is up 9.09 per cent, trading at 12 cents at 3:21 pm AEST
Melbourne-based Alcidion Group (ALC) shares have shot up on the release of its Q4 FY23 quarterly activities report.
During Q4, Alcidion achieved an 81.8 per cent increase in operating cash flow compared to the prior corresponding period. The company posted $6 million in positive operating cash flow, with record quarterly cash receipts of $17.6 million, representing a 25.7 per cent increase from the previous year.
Also during Q4, Alcidion secured $7.3 million in new sales, reflecting a successful execution of the company’s growth strategy. For FY23, the company posted $29.9 million in new sales, with approximately $9.9 million recognised as revenue during the year.
Two large healthcare providers renewed software rights contracts with Alcidion in the quarter who were picked up as part of Alcidion’s acquisition of Silverlink. This marked the fourth renewal which also triggered an earnest payment.
ALC has also formed a strategic partnership with Olinqua, a leader in hospital automation, to launch Miya Central. Miya Central aims to improve patient outcomes by identifying operational inefficiencies, making data-driven decisions, and driving continuous improvement.
ALC was up 9.09 per cent, trading at 12 cents at 3:21 pm AEST.
