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Volpara Health Technologies, listed on the ASX, signed 28 new clients in the three months prior to June 30, the highest of a quarter, and saw its total value of contracts and its recurring annual increase in income.
Volpara based in Wellington, which focuses on early detection of breast cancer using artificial intelligence, said that customers of its VolparaEnterprise platform were 85 and that customers were on average smaller . The fiscal year ended March 31.
In a statement published on the Australian stock exchange, Volpara said $ 4.5 million had been added to the total value of his contract, compared to $ 4.1 million in the last quarter of last year . The TCV is the value of the contracts signed during a given period.
Annual recurring revenues increased by 25% to $ 4.46 million from $ 3.6 million at the end of March. ARR is the normalized amount of cash that we reasonably expect to recognize for the next 12 months based on previously signed contracts.
"The $ 890,000 increase in ARR represents the largest increase in a single quarter and places Volpara on track to reach its $ 9 million goal by the end of this year. end of March 2019, "the statement said. The percentage of American women controlled by VolparaEnterprise is now 3.7%, with a target of reaching 9% by March 2019.
The company continues to have no debts and had 22, $ 8 million in cash as of June 30. In the first quarter, expenses amounted to just over $ 4 million and the company said that it expected a cost increase this year in the pursuit of "growth". aggressive, before settling next year. Its estimated cash outflow for the next quarter is $ 4.4 million.
Volpara shares remained unchanged at 75.5 Australian cents and rose 7.9% so far this year.
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