Another outstanding result. All in $US $19.2m sales contracts added in Q3 (second best q ever), $143.5m revenue backlog, cash flow and EBIT positive, $26.1m in the bank.
An interesting and useful stat I'm not sure I'd seen before is the clinical trial revenue yield showing on average 51% of contract value is realised within 12 months of contract execution. This number actually stands up generally well across the organisation as a rolling estimate as contracted revenue at 3Q21 was $79.7m and TTM revenue at 3Q22 is $43.0m.
Extrapolating this out to the current $143.5m contracted revenue projects recognised revenue in the next 12 months of around $75m, representing 74% growth. And this doesn't count upside from the healthcare business.
Exciting stuff.
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