Volpara share price up on record full-year results

ASX investors appear to be pleased with Volpara’s results.

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Key points

  • Volpara Health Technologies revealed its full-year set of accounts today
  • The company scored a record revenue result and improved its net loss after tax
  • In the past 12 months, the Volpara share price has collapsed 40% into the red

Shares in Volpara Health Technologies Ltd (ASX: VHT) jumped out of the gates on Thursday and are now trading 2% higher at 75 cents.

Investors are bidding up the Volpara share price following the release of the company’s full-year results.

Volpara achieves record revenue

Key takeouts from the period include:

  • Record revenue from customer contracts, up 32% to NZ$26.1 million
  • Revenue result exceeds guidance of between NZ$25 million and NZ$26 million
  • Subscription revenue up 37% to NZ$24.8 million
  • Gross margin remained consistent at more than 91%
  • Net loss for the year after tax improved 6% to NZ$16.4 million
  • Normalised non-GAAP EBITDA loss declined 13% to NZ$14.1 million.

What else happened this period for Volpara?

Volpara achieved record full-year revenue for the year ending 31 March 2022, scoring NZ$26.1 million, which is a 32% year-on-year (YoY) gain.

Subscription revenues saw higher leverage this period and “continue to grow at a faster rate than total revenue”, Volpara says.

In total, revenue from subscriptions increased to NZ$24.8 million, a 37% YoY gain.

Margins were held tight at the gross level at roughly 91% in FY22, in line with the previous year and guided ranges.

“Although further cost reductions were achieved through the continued work on the scaling of Microsoft Azure services, some one-off or non-standard costs were incurred during the year.”

Finally, the group’s net loss after tax (NLAT) improved 6% from NZ$17.5 million to NZ$16.4 million.

Over the 12 months to 31 March 2022, the Volpara share price dropped by more than 30%.

Management commentary

Speaking on the announcement, Teri Thomas, Volpara’s CEO, said:

FY22 has been a great year for Volpara, with strong forward momentum in spite of Covid-driven uncertainties. Volpara has amassed a talented team of individuals who are passionate about our purpose, saving families from cancer. I’m honoured to lead this team forward into our next year of
making a positive impact on our customers and communities and for our shareholders.

Volpara share price snapshot

In the past 12 months, the Volpara share price has collapsed 40% into the red. It is down 28% this year to date.

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended VOLPARA FPO NZ. The Motley Fool Australia has positions in and has recommended VOLPARA FPO NZ. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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