Hi all,
This morning we released our Appendix 4C and a business update for the three month period ending 30th September 2020 (Q1 FY2021). We are pleased to report a strong start to the new financial year, both in terms of sales and cash receipts from customers. The quarter saw $4.8M contracted revenue sold, 30% higher than Q4 FY20 and 92% higher than Q1 FY20. Cash receipts at $6.4M were 34% up on Q1 last year.
Previously announced Q1 signed contracts include initial 12-month contracts with Murrumbidgee LHD and Sydney LHD with potential to expand scope of both, a five-year agreement with NHS Lanarkshire for Patientrack and a two-year renewal of support services with ACT Health. In today’s update, you can also read about additional Q1 contract wins, our recent successes with Smartpage and being selected by the Victorian DHHS to support deployment of the Victorian Health Incident Management System (VHIMS).
Our good Q1 sales result was achieved against a stabilising COVID-19 operating environment for healthcare providers, who are now better positioned to manage the pandemic and can therefore focus back on digital health initiatives. It is also an early indicator that the investments we have made in increasing our sales capabilities are beginning to generate results from a strengthening sales pipeline.
At end Q1, we have $14.7M contracted revenue to be recognised in FY2021. $9.9M of this is recurring revenue and $4.8M is non-recurring. Please note a minor adjustment we have made to how recurring revenue is classified – this is explained in today’s cover note.
You can read the Appendix 4C
here.
A reminder that Alcidion Managing Director Kate Quirke will host a webcast with investors at 11:00am AEDT this morning to discuss Alcidion’s Q1 FY2021 performance. Details on how to register can be found on today’s ASX announcement.
