SYDNEY: Visionflex Group Ltd (ASX:VFX), an Australian virtual healthcare technology provider, on Thursday reported a 148% quarter-on-quarter revenue jump to A$2.0 million for the fourth quarter ended June 30, driven by growth in recurring software revenue and several new government and corporate contracts.
The company posted operating cash inflow of A$0.3 million, reversing a cash outflow of A$0.9 million in the previous quarter. Annual recurring revenue (ARR) rose 14% to A$1.9 million, up 49% from the prior corresponding period.
Visionflex secured deals with Amplar Health, a division of Medibank, to deploy its telehealth solution in up to 30 aged care sites under a government-funded pilot, with total contract value (TCV) of A$1.0 million. It also signed contracts with a leading ASX-listed mining firm and expanded coverage across Primary Health Networks in New South Wales.
The Warriewood-based firm said it is targeting scalable growth in aged care, Indigenous health, and the resources sector, and recently launched a software solution for Australia’s in-home care sector.
Visionflex had a cash balance of A$1.9 million at the end of the quarter and additional debt headroom of A$1.5 million.
The company will hold an investor webinar at 12:00pm AEST today to discuss the results.