It has been a busy day of quarterly update releases on the Australian share market.
And while the likes of Bubs Australia Ltd (ASX: BUB) and Sezzle Inc (ASX: SZL) may have stolen the headlines, they weren’t the only companies releasing updates.
Three updates you may have missed are listed below. Here’s a summary of how they performed:
Alcidion Group Ltd (ASX: ALC)
The Alcidion share price is dropping lower on Monday after the release of its fourth quarter update. The healthcare technology company reported quarterly contracted revenues of $3.7 million despite operating in a challenging market. This was more than double what it achieved during the prior corresponding period. As a result, Alcidion’s full year revenue is anticipated to be in the range of $18.4 million and $18.7 million. In addition to this, the company advised that it has $12.8 million in revenue already contracted to be recognised in FY 2021, with a further $17 million sold out to FY 2025.
Mach7 Technologies Ltd (ASX: M7T)
The Mach7 share price is racing higher today after releasing its fourth quarter update. That update revealed that the medical imaging data management solutions provider generated $3.6 million of positive free cash flow during the quarter. This lifted its full year free cash flow to $4.5 million. A key driver of this was a material purchase order from Hospital Authority Hong Kong. This meant Mach7 finished the quarter with a cash balance of $48.9 million. Though, since then it has completed the acquisition of Canadian company, Client Outlook. This acquisition provides a unique zero-footprint viewing and integration platform distinguished as healthcare’s first Smartviewer, known as eUnity.
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix share price is down slightly this afternoon after the release of its quarterly update. As was expected, the clinical-stage biopharmaceutical company reported a reduction in prostate cancer imaging kit sales during the second quarter. This was because many oncology and radiology services were deferred to manage patient risk. As a result, Telix received $0.95 million in cash from kit sales for the quarter, down 16% on the first quarter. The company held cash reserves at the end of the quarter of $24.38 million. Though, it has since received an R&D tax refund of $11.4 million. As a result, management believes it has sufficient funds for at least five further quarters of operations.
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More reading
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- 5 exciting small cap ASX shares to watch
James Mickleboro owns shares of TELIXPHARM DEF SET. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Alcidion Group Ltd and MACH7 FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia owns shares of and has recommended BUBS AUST FPO. The Motley Fool Australia has recommended Alcidion Group Ltd, MACH7 FPO, and Sezzle Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post 3 quarterly updates you might have missed: Alcidion, Mach7, & Telix appeared first on Motley Fool Australia.
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