Hi allThis morning we released our Appendix 4C and business...

Hi all

This morning we released our Appendix 4C and business update for the first quarter of FY22 – the period ending 31 December 2021 (Q2 FY22).

During this quarter, Alcidion signed their largest contract as part of a Consortium led by Leidos Australia to deliver key capability for a Commonwealth of Australia healthcare IT project. We will deliver the longitudinal health record with our flagship product, Miya Precision.

Q2 FY22 delivered positive cash flow of $1.5M which was driven by cash receipts of $9.9M and resulted in YTD cash receipts of $16.4M. The cash balance as at December 31 2021 was $18.9M.

We continued to build on the momentum of established in Q1 FY22, adding $27.7M of new sales, comprising $15.4M of recurring revenue and $12.3 of non-recurring revenue. Of this new revenue, $6.2M will be recognised in FY22.

During this quarter we acquired Silverlink PCS Software Ltd (Silverlink) one of the remaining stand-alone Patient Administration Systems (PAS) providers in the UK. This acquisition positions Alcidion to provide a cloud-native, modern, modular EPR with this foundational PAS. The process was funded through a successful $55.0M capital raise via Institutional Placement and Entitlements issue.

A recording of today's webcast is available to view here.