The IMEXHS Ltd (ASX: IME) share price soared today following a positive sales update for its Aquila in the Cloud product.
At the time of writing, the company is trading 6.94% higher at $1.85 per share.
What did IMEXHS announce?
The IMEXHS share price is outperforming the All Ordinaries Index (ASX: XAO) today.
According to its release, IMEXHS advised that its standardised radiology solution, Aquila in the Cloud, has ended the year on a strong note.
For the period ending 31 December 2020, the company's product saw a total of 41 contracts signed. This is expected to translate to more than $945,000 in annual recurring revenue (ARR) for the company.
Launched last May, Aquila in the Cloud is an affordable and accessible product that improves patient outcomes in imaging diagnosis and treatment.
Hosted within Microsoft Azure, healthcare providers pay a connection and establishment fee for the software service. This allows access to the advanced imaging tools on a fee per study basis, helping to reduce overall costs.
IMEXHS customers include small-to medium-sized customers across 11 markets including the United States, Mexico, Central America, and Columbia.
Management commentary
IMEXHS co-founder and CEO Dr German Arango commented on the result:
The strong demand we are experiencing in multiple markets for Aquila in the Cloud reflects the gap which exists for a low-cost radiology solution that meets the needs of small to mid-size operators. Our affordable product offering provides us with a unique opportunity to democratise access to medical imaging which is currently not available to around two-thirds of the world's population. At IMEXHS, we firmly believe that Aquila in the Cloud represents an important step forward to improving the health outcomes of communities across the globe.
About the IMEXHS share price
The IMEXHS share price has been on a rollercoaster ride over the past 12 months. The company's shares reached a high of $2.55 last January, before falling to a multi-year low of 75 cents in March.
Based on the current IMEXHS share price, the company commands a market capitalisation of around $51 million.
