Hi all,This morning we released our Appendix 4C and business...

Hi all,

This morning we released our Appendix 4C and business update for the final quarter of FY21 – the period ending 30 June 2021 (Q4 FY21).

We are pleased to announce the results of a strong quarter, fitting for the exceptional year of growth Alcidion has seen in FY21. Unaudited FY21 figures indicate an expected full year revenue of between $25.6M-$25.9M, representing a 38%-39% increase on the prior corresponding period (pcp) and a record result for the Company. This includes $600k generated from Extramed, following only 2.5 months since our acquisition of the company at the beginning of the quarter (refer 15 April announcement). The acquisition of ExtraMed has already expanded Alcidion’s UK market presence whilst providing additional cross-sell opportunities.

Alcidion delivered positive operating cashflow of $1.6M in Q4, resulting in a full year positive operating cashflow of $1.1M. This reflects a level of seasonality, which typically sees Q3 and Q4 generating more cash than Q1 and Q2.

During Q4 FY21, Alcidion signed new contracts and renewals with a total contract value (TCV) of $7.3M, up 52% on Q3 and 97% on pcp, part of which is recognised in FY21, with the majority of the balance to be recognised in FY22.

At the beginning of the quarter, Alcidion was selected as a preferred provider (as part of a Consortium) for a major project to provide a consolidated healthcare record and support clinical decision making (via Miya Precision) across the Australian Defence Force. The initial TCV for Alcidion is approximately $21M over the initial 5.5 year contract term subject to contract finalisation, expected in Q4 calendar year 2021.

We begin FY22 with $15.1M of contracted revenue ($10.9M recurring + $4.2M non-recurring) to be recognised in the coming year, 18% higher than the same time last year. The Company has a further $2.9M of scheduled renewal revenue to be recognised in FY22 from existing customers renewing current subscriptions and licence periods.

We invite you to read the full announcement and Appendix 4C here.