ProMedicus (ASXME) ‘mini me’ Mach7 Technologies (ASX:M7T) has affirmed its revenue forecast for the year to June 2025, albeit at the lower end of things.
Mach 7 also expects to break even.
On preliminary unaudited numbers, Mach 7 expects revenue of $33-34 million, in line with guidance of $33-36 million and 15-25% higher than previously.
Management expects recurring revenue – subscription revenue and maintenance and support revenue – to be 20% higher.
But CARR – contracted annual recurring revenue – should come in at $30-31 million, just below the guided $32-35 million.
“Mach 7 is in a strong financial position with no debt and expects to be operating cash flow positive for the 2024-25 year,” management chirps.
Mach 7 provides medical imaging software, including image diagnosis and vendor-neutral image archiving.
In crude terms Mach7 is ‘same but different’ to Pro Medicus – a key commonality being a US focus.
But they don’t compete directly, by and large.
A key difference, of course, is that Mach 7 is worth $80 million, with $22 million of cash backing.
Pro Medicus is valued at $33 billion, with its shares surging 140% over the last year.
Mach 7 shares have decline 44% over his period.
Sniffing a bargain, Mach 7 is lapping up its own shares by way of an ongoing share buyback.
Mach 7’s new CEO Teri Thomas officially started on July 1 and will update investors on July 29.
Thomas headed breast imaging outfit Volpara Technologies, before it was taken over by a South Korean suitor last year.
M7T Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
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ME) ‘mini me’ Mach7 Technologies (ASX:M7T) has affirmed its revenue forecast for the year to June 2025, albeit at the lower end of things.
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