Would you like to add some small cap shares to your portfolio this month? If you would, then you may want to get better acquainted with the ones listed below.
Here's why these small cap ASX shares could be the ones to watch:
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Alcidion Group Ltd (ASX: ALC)
The first small cap to watch is Alcidion. It is an informatics solutions company that provides software that has been designed to improve the efficacy and cost of delivering services to patients and reduce hospital-acquired complications.
Last month Alcidion released its half year results and reported a 36% increase in revenue to $11.1 million. In addition to this, it revealed that a further $23 million of sold revenue will be recognised over the next five years from FY 2022 to FY 2026.
Since then, the company has announced another potentially important contract with New Zealand's Te Manawa Taki region District Health Boards for a pilot implementation of Better's OPENeP Electronic Medication Management solution.
All in all, Alcidion looks well-placed to benefit from the digitisation of the healthcare sector over the next decade.
CleanSpace Holdings Limited (ASX: CSX)
Another small cap ASX share to watch is CleanSpace. It is a designer, manufacturer, and seller of workplace respiratory protection equipment (RPE) for healthcare and industrial end markets.
CleanSpace listed on the Australian share market late last year, raising $20 million to support its growth plans. This includes building on the adoption of CleanSpace products in the healthcare and industrial markets, product development, expanding awareness, and entering new international markets.
It recently released a very strong first half result. It revealed revenue of $39.7 million and EBITDA of $20.1 million. This was up from revenue of $7.3 million and an operating loss of $1.9 million a year earlier. It was also 25% and 72.6% higher, respectively, than management's forecast. Positively, this is still well short of its addressable market of US$6.3 billion.
