Here’s why the Oneview (ASX:ONE) share price is climbing today

The healthcare company has released its quarterly report. Here are the details

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The Oneview Healthcare PLC (ASX: ONE) share price is in the green today. Shares in the healthcare company received a boost after Oneview released its quarterly report earlier today.

At the time of writing, Oneview shares are up 2.27% to 45 cents.

Let’s take a look at how Oneview performed in the second quarter of 2021.

Oneview share price rises on quarterly report

Earlier today, Oneview released its report for the second quarter ending 30 June 2021.

The company’s financial performance was highlighted by a 42% increase on the previous corresponding period (pcp) in net operating cash outflows to €1.24 million ($2 million). This included €1.98 million ($3.18 million) in receipts from customers, a 56% increase on the pcp.

Despite a growing cash outflow, Oneview reported increased administrative and marketing costs for the quarter.

The company also noted a stable balance sheet, with a cash balance of €5.0 million ($8.03 million) as at 30 June 2021.

Oneview reports strong operational highlights

In addition to the company’s financial performance for the quarter, Oneview also elaborated on its operational achievements.

In particular, Oneview highlighted the company’s 5-year contract extension with its largest customer in Australia, Epworth HealthCare. Oneview also noted its 5-year contract with Northern Health in Melbourne.

Oneview also said it continues to work with its new partner Samsung. Early feedback from their combined market strategy has shown a preference for Cloud Enterprise vs. Cloud Star.

The second quarter of 2021 marked the first quarter of sales and marketing for Oneview’s Cloud Enterprise product. The company’s management was pleased with the market response and foreshadows a material increases in its sales pipeline.

Snapshot of the Oneview share price

Oneview is an Irish healthcare technology company that provides digital tools for patients and their caregivers.

Facilities systems and services are unified on Oneview’s Care Experience Platform with the aim of improving the overall care experience.

The company currently services 63 hospitals, operating in the US, Australia, the Middle East, and Asia.

The Oneview share price has had a stellar year thus far. Shares in the healthcare technology company have surged more than 948% since the start of the year.

Should you invest $1,000 in Oneview right now?

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Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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