Ditto an ASX release.
Book ya GLH powered telehealth appointment here.
21/1/22 Quarterly Activities/Appendix 4C Cash Flow Report
A solid quarter from GLH bringing in $2m in receipts and scraping through breakeven operating cash flow. Be aware there is lumpiness in receipts and the company notes 2Q and 4Q are the stronger ones (1Q receipts were only $1.3m in comparison).
It was pleasing to see management be controlled with costs, my fear was that after doing the large capital raise it would give them free rein to spend heavily but it is clear they have a strong focus on driving value from any costs.
The commentary suggests Covid will continue to slow down their ability to implement their contract wins (which makes sense given their customers are hospitals and health centres) but management have no fears revenues will be lost but only deferred until they are able to implement. Nonetheless it sounds like FY22 will still show solid ARR growth with more to come in FY23.
22/07/21 Quarterly Activities/Appendix 4C Cash Flow Report
A solid quarter from GLH, cash receipts of $2m roughly in line with prior quarters leading to a small positive operating cash flow of $300k.
FY21 unaudited revenue of $7m was slightly ahead of the $6.9m guidance given in the capital raise presentation.
The business continues to be profitable at the EBITDA level (~$1m) with $650k ARR pipeline waiting to be implemented.
New CEO Appointment
GLH announced founder and CEO Mathew Cherian will step back to an Executive Director role and focus on the business at a strategic level, including international expansion and M&A opportunities.
Michael Davies has been appointed to the CEO role and brings with him fantastic experience primarily in the telco sector, most recently as Head of Revenue at Macquarie Telecom. Shareholder returns at MAQ have been fantastic over the last decade.
Despite having no direct health experience, Michael clearly has a strong background in sales, particularly at an enterprise level and looks to be a great appointment at this point in GLH's life as the large investment into the product suite is largely complete and expanding sales is the next step to be taken.
Wolper Jewish Hospital to implement MasterCare for Patient Administration System
Australian Healthcare Software provider Global Health Limited (ASX:GLH) (“Global Health” or “Company”) is pleased to announce that Wolper Jewish Hospital (Wolper) has signed for the implementation of Global Health’s MasterCare Patient Administration System (PAS) for hospitals on a first year value of over $78,000.
GLH have a very broad software platform, that would at face value appear to need a lot of investment to keep it competitive. GLH appears to lack the financial capacity / scale to stay in the race.
Glassdoor feedback is pretty attrocious. 2.3 star rating, with 7% recommendation.
Little progress on the evenue front, although this is concealed somewhat by the transition to subscription model.
It is cheap for a reason.
CEO owns over 50% of the business, so if he is the problem, it ain't going to be fixed by minority shareholders.