Alcidion Group reports June quarterly cash flow of $7.7M
- Alcidion Group delivers record June quarterly operating cash flow of $6.8 million.
- Quarterly cash receipts reached $24.6 million, boosted by a major $10.6 million upfront payment from the UK's University Hospitals Sussex NHS Foundation Trust.
- Management reconfirmed its full-year financial guidance, projecting revenue of approximately $5 million.
Healthcare technology developer Alcidion Group (ASX:ALC) reported a record positive operating cash flow of $24.6 million in cash receipts.
The performance was buoyed by an upfront $35 million contract signed with University Hospitals Sussex NHS Foundation Trust.
"Positive operating cash flow highlights a strong EBITDA-to-cash flow conversion, which has been a consistent highlight of our business and builds upon our cash balance for future growth opportunities," said Alcidion Group Managing Director Kate Quirke.
Manufacturing and operating costs remained elevated at $1.5 million.
The company reconfirmed its full-year guidance of approximately $5 million.
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The company recently expanded its product suite by acquiring Kyra flow products to add 33 new healthcare customers across Australia, New Zealand, and the UK.
Total contract value sales and renewals reached $43.2 million for the period, which included a four-year contract extension with Victoria's Western Health public healthcare network.
