It has been a busy day of quarterly update releases on the Australian share market.
And while the likes of Bubs Australia Ltd (ASX: BUB) and Sezzle Inc (ASX: SZL) may have stolen the headlines, they weren't the only companies releasing updates.
Three updates you may have missed are listed below. Here's a summary of how they performed:
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Alcidion Group Ltd (ASX: ALC)
The Alcidion share price is dropping lower on Monday after the release of its fourth quarter update. The healthcare technology company reported quarterly contracted revenues of $3.7 million despite operating in a challenging market. This was more than double what it achieved during the prior corresponding period. As a result, Alcidion's full year revenue is anticipated to be in the range of $18.4 million and $18.7 million. In addition to this, the company advised that it has $12.8 million in revenue already contracted to be recognised in FY 2021, with a further $17 million sold out to FY 2025.
Mach7 Technologies Ltd (ASX: M7T)
The Mach7 share price is racing higher today after releasing its fourth quarter update. That update revealed that the medical imaging data management solutions provider generated $3.6 million of positive free cash flow during the quarter. This lifted its full year free cash flow to $4.5 million. A key driver of this was a material purchase order from Hospital Authority Hong Kong. This meant Mach7 finished the quarter with a cash balance of $48.9 million. Though, since then it has completed the acquisition of Canadian company, Client Outlook. This acquisition provides a unique zero-footprint viewing and integration platform distinguished as healthcare's first Smartviewer, known as eUnity.
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix share price is down slightly this afternoon after the release of its quarterly update. As was expected, the clinical-stage biopharmaceutical company reported a reduction in prostate cancer imaging kit sales during the second quarter. This was because many oncology and radiology services were deferred to manage patient risk. As a result, Telix received $0.95 million in cash from kit sales for the quarter, down 16% on the first quarter. The company held cash reserves at the end of the quarter of $24.38 million. Though, it has since received an R&D tax refund of $11.4 million. As a result, management believes it has sufficient funds for at least five further quarters of operations.
