- Medical imaging tech company Mach7 Technologies (M7T) has reported “its most successful year in history for sales”
- For the 2021 financial year, the company has recorded sale orders of $25.6 million, a 95 per cent increase from FY20
- Revenue was $19 million, up one per cent from last year’s reported revenue and 13 per cent on a constant currency basis
- Match7 also says it is on track to deliver its stated target of $27 million revenue fo the 2021 calendar year
- Mach7 is down 2.01 per cent and is trading at 97.5 cents per share at 12:33 pm AEST
Medical imaging technology company Mach7 Technologies (M7T) has reported “its most successful year in history for sales”.
For the 2021 financial year, the company recorded sale orders of $25.6 million, a 95 per cent increase from FY20.
Notably, 20 per cent of the sales were subscriptions, which is a big jump from last year’s 3 per cent.
Revenue was $19 million, up one per cent from last year’s reported revenue and 13 per cent on a constant currency basis.
During the period, Mach7 contracted premier hospital networks Trinity Healthcare and Adventist Healthcare, which have a combined unrecognised value of $13.2 million.
Mach7 is now generating $13.4 million of annual recurring revenue earned from live annual support contracts and subscriptions on an annualised basis (ARR).
The ARR run rate has more than doubled since the prior year and is now covering approximately 65 per cent to 70 per cent of the company’s current operating cash burn.
Match7 also said it was on track to deliver its stated target of $27 million revenue for the 2021 calendar year.
Mach7 was down 2.01 per cent, trading at 97.5 cents per share at 12:33 pm AEST.