Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Volpara Health Technologies exceeds revenue goal

Volpara Health Technologies exceeds annual recurring revenue goal

By Rebecca Howard

April 3 (BusinessDesk) - Volpara Health Technologies, the Kiwi digital health firm listed on the ASX, said it exceeded its goal of lifting annual recurring revenue 200 percent for the financial year ended March 31.

Wellington-based Volpara, which focuses on early detection of breast cancer using artificial intelligence, said in a statement to the Australian stock exchange that its ARR now stands at $3.6 million. That's compared to $1.1 million at the end of FY2017, an increase of 223 percent.

ARR is the normalised amount of cash reasonably expected to be booked for the next 12 months based on the contracts signed previously, and assuming installation upon order, according to Volpara. Its total contract value - or the value of contracts signed in the specified period - exceeded $11.2 million, up 173 percent on the prior year's $4.1 million.

The company also said that approximately 3.2 percent of all women screened in the US are now contracted to Volpara’s software (approximately 1.27 million women), compared to the target for the year of 3 percent.

"We are just scratching the surface of the market in the US, but the signs are very encouraging," said Volpara chief executive Ralph Highnam.

The ASX-listed shares rose 5.6 percent to 76 Australian cents.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Budget Policy Statement: 'Wellbeing Of NZers At The Heart Of Budget Priorities'

“We want a wellbeing focus to drive the decisions we make about Government policies and Budget initiatives. This means looking beyond traditional measures - such as GDP - to a wider set of indicators of success,” Grant Robertson said. More>>

ALSO:

Short Of 2017 Record: Insurers Pay $226m Over Extreme Weather

Insurers have spent more than $226 million this year helping customers recover from extreme weather, according to data from the Insurance Council of NZ (ICNZ). More>>

Environment Commissioner: Transparent Overseer Needed To Regulate Water Quality

Overseer was originally developed as a farm management tool to calculate nutrient loss but is increasingly being used by councils in regulation... “Confidence in Overseer can only be improved by opening up its workings to greater scrutiny.” More>>

ALSO:

Deal Now Reached: Air NZ Workers Vote To Strike

Last week union members voted overwhelmingly in favour of industrial action in response to the company’s low offer and requests for cuts to sick leave and overtime. More>>

ALSO: