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I didn’t think it was flash TBH. Here is why:
despite the KP and CMS the inclusion we managed to do less TLT than previous year. Cure covid knocked out 2 months - but there was nothing to show me that KP deal provided any significant volume. Maybe the inclusion and testing of systems took longer than anticipated. This deal was touted as a company maker - I’m not seeing it.
No mention of the 20m of invoiced tests.
opex costs are running at 24m. Unless there is a serious cash injection we will be looking at a capital raise in the next few months. Based on that rate we have expended $4m already this FY.
We were told that March was a stellar month - 69% greater than average FY21. Crude numbers put this at 1500 tests in March. This drops to 1200 tests when you remove non commercial ratio.
If we assume 10% growth per month this is ~19000 tests per year. Which is $15M. Not huge uptake if you ask me.
management need to release quarterly TLT throughput figures. Releasing once a year is rubbish.
Summary for me was the Result showed treading water with no impact from large volume healthcare organisations.
