ASX Health Stocks: Most biotechs are still chasing maiden revenue, but here’s a few healthcare stocks with strong earnings
Alcidion increased sales significantly in the first half
Cogstate sounds warning on outlook
Probiotic had a super half
Most biotech firms on the ASX are clinical stage companies, meaning they are still trying to prove that their drugs are safe and effective – and therefore have no revenues to speak of.
On the other hand, most of the diagnostics and non-clinical plays do generate revenues.
Here’s a pick of the revenue-generating healthcare stocks on the ASX which reported half-year earnings today:
Alcidion’s H1 sales up 58pc
Healthcare informatics company Alcidion (ASX:ALC) reported $18.6m of new contracted sales in the first half, increasing its revenue by 48% on pcp to $19m.
Recurring revenue increased by 58% on pcp to $13.85m.
The company reported bottom line underlying EBITDA loss of $1.1m, an improvement of $2.1m loss in the pcp.
Highlights for the half include a new $2.8m contract with the University Hospital Southampton NHS Foundation Trust (UHS) to implement Alcidion’s Miya Precision IT platform.
“We continued to grow revenue and sign multiple new and renewal contracts in what has been a challenging economic and healthcare environment, particularly in the UK,” said Alcidion’s CEO, Kate Quirke.
