- ResApp (RAP) has driven down its losses over the first half of the 2021 financial year and managed to post an increase in revenue
- The health stock’s loss for the half-year totalled $3.13 million, down from $3.82 million at the end of the previous corresponding period
- RAP also received $46,197 in revenue from customers for the six months to December, following the launch of its SleepCheck app
- The company said the boosted revenue is also due to the deployment of its ResAppDx product to Australian telehealth services
- ResApp ended December 31 with $4.21 million worth of cash in the bank having spent $2.98 million on operating activities over the six-month period
- No interim dividends have been declared by the company and RAP shares are trading for 5.4 cents each, down 8.47 per cent
ResApp (RAP) has driven down its losses over the first half of the 2021 financial year and managed to post an increase in revenue.
The healthcare stock posted a half-year loss of $3.13 million, down from $3.82 million at the end of the previous corresponding period.
It also revealed it received $46,197 in revenue from customers in the six months to December 31, following the launch of its SleepCheck app.
RAP’s app to treat sleep apnoea is available in multiple countries on Apple’s operating system and recent launched on Android as well.
The company has also credited the boost in revenue to the recent deployment of its ResAppDx to various Australian telehealth services.
The product essentially works as a smartphone app to diagnose respiratory illnesses in adults and children.
Meanwhile, at the end of December, ResApp had $4.21 million worth of cash in the bank after spending $2.98 million on operating activities over the six month period. Over $700,000 of that was spent on research and development costs, while the majority of the operating costs went towards employees expenses and wages.
No interim dividend has been declared by RAP, and the company isn’t recommending a final dividend be paid either.
Shares in ResApp have dropped 8.47 per cent during Wednesday’s trading session as investors react to the half-year results.
Company shares are trading at 5.4 cents each at 12:52 pm AEDT.