Consensus community valuation
$1.520
Average Intrinsic Value
15.1%
Undervalued by
Active Member Straws
#Bull Case
Added 2 months ago

this bloke called Andrew Page talked them up on ausbiz "the call" podcast today 3 June 2020

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#Q1 FY21 Results
Added 2 weeks ago

Volpara has released it's 1st quarter cash flow report (as a NZ company its FY ends in March).

Cash receipts for the quarter were 112% higher from the same period last year, coming in at NZ$5m. A record result, and the 4th consecutive quarter where receipts were greater than NZ$4.5m.

The company has over NZ$67m of cash on hand -- enough to sustain the company at the current burn rate for around 4.5 years. Also worth noting that the cash burn is the lowest since MRS Systems was acquired in June last year, and better than what was expected.

Annual recurring revenue was up ~6% from the preceeding quater, and 30% higher for the year.

Annual revenue per user increased, and new contracts signed in Q1 are at a much higher rate (very encouraging!).

Overall, there's not much to complain about. Volpara is in a strong position and it's great to see such a solid improvement during the worst parts of the lockdowns.

This for me has always been more a question about price. As of today, shares are trading at roughly 19x ARR (!)

ASX announcement here  

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#Bull Case
Added 2 weeks ago

https://www.rask.com.au/report/tech-stock-report/


For those interested in VHT (held) and not on Rask Invest's mailing list, it is one of Rask's Rockets

 

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#broker view
Added 2 months ago

29-May-2020:  Ord Minnett: Volpara Health Technologies Ltd: All the tools to deliver, now to execute

OM have a "Hold" call on Volpara Health (VHT) with a $1.46 TP.  VHT closed at $1.395 today.

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#FY20 Half Year Results
Added 9 months ago

Volpara reported a huge jump in revenues for the first half, up 97% to NZ$6.8 million. Likewise, subscription revenue was up 148% to NZ$5.2 million and the level of annual recurring revenue (ARR) was NZ$15.7 million, up from just NZ$4.8 million at the same time last year.

The after tax loss did however widen from NZ$5.1m to NZ$8m, thanks to a near doubling in operating expenses. 

Of course, the June acquisition of MRS explains a lot of these moves, and has radically enhanced Volpara's market share and should help the company launch into adjascent areas.

The cash balance is strong at ~NZ$40m, which should sustain operations for about 5 years at the current burn rate.

I think there's a lot to like about Volpara, but i estmate shares to be trading on ~25x sales for the full year, which factors in a lot of optimism.

Announcement presentation can be seen here.

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#Risks
Added 4 weeks ago

on Ausiz - James Rosenberg from E.L. & C. Baillieu suggests wait until it turns a profit before buying

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#FY20 second quarter results
Last edited 9 months ago

Volpara reported a 190% increase in cash receipts from customers for the quarter ending September 30, coming in at NZ$4.9 million.

Operating cash flows remain negative, with net operating cash outflows of NZ$4.2 million for the quarter, or NZ$7.2 million for the half. That represents a deterioration due to the timing of a payroll adjustment, but the company said that its costs remained at or below budget.

Thanks to the recent cap raise, the group's cash position saw a small uplift to NZ$40.2 million. It remains debt free.

Group annual recurring revenue (ARR) improved by NZ$1 million, or roughly 7%, over the latest quarter. That's not huge, but reasonable given that the second quarter is traditionally the softest and the company said it was on track to meet its mid-range forecast of NZ$17.1 million for the full year.

The average revenue per user (ARPU) generated across breast cancer operations also showed a slight uptick, rising from NZ$1.37 million to NZ$1.41 million. Once the full suite of products converts to a SaaS model (likely in the next month), management expect to see a solid uptick in this metric.

See the full ASX announcement here

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