- Oneview Healthcare (ONE) has reported a net operating cash inflow for the first time in its history
- Oneview generated €1.3 million (A$2.04 million) in the December quarter, a significant growth from its net operating loss of €3.44 million (A$5.4 million) in the previous quarter
- The healthcare tech company received record customer receipts totalling €5.46 million (A$8.6 million) which is a 281 per cent increase on the September quarter
- At the end of the year, Oneview had €15.2 million (A$23.8 million) in cash, which marks a 123 per cent increase to the prior corresponding period
- Company shares have been trading up 9.62 per cent at 28.5 cents
In its quarterly report for Q4 FY21, Global healthcare company Oneview Healthcare (ONE) revealed it had a net operating cash inflow for the first time in its history.
Oneview Healthcare provides digital tools for patients, families and caregivers to improve the care experience.
Net operating cash inflow for the December quarter totalled €1.3 million (A$2.04 million) which is significant growth from its operating cash outflow of €3.44 million (A$5.4 million) in the previous quarter.
The company received record customer receipts of €5.46 million (A$8.6 million) which is a 281 per cent increase on the September quarter. The customer receipts included large payments in respect of hardware sales and services, as well as delayed receipts for the previous quarter that were received in early October.
In terms of expenditure, Oneview allocated roughly €3.18 million (A$5 million) to staff and admin costs and almost €1.7 million (A$2.6 million) went towards product manufacturing and operating costs, and advertising and marketing.
In October, the company signed a five-year contract with Arizona-based Kingman Regional Medical Centre to deploy its cloud-based Care Experience Platform (CXP).
This meant Oneview’s CXP Cloud Enterprise would reach a 235-bed multi-campus healthcare system. Hardware delivery to the site has commenced and the project is expected to go live by mid-2022.
It also extended contracts during the quarter with the University of California San Francisco and the University of Iowa Children’s Hospital.
CEO James Fitter said that while COVID-19 has detrimentally affected the healthcare system, Oneview has maintained a high level of engagement with existing and potential customers for expansion of its platform across more beds and customers transitioning to cloud enterprise.
The company expects to place new original equipment manufacturer (OEM) hardware orders with suppliers in the next few weeks to ensure it meets the demand it expects to receive this year.
At the end of the quarter, Oneview had €15.2 million (A$23.8 million) in cash which marks a 123 per cent increase to the prior corresponding period.
Company shares were up 9.62 per cent to trade at 28.5 cents at 1:10 pm AEDT.