only | |
use | |
Business Update - Q2 FY22 | |
Positive results in a challenging environment | |
ersonal | |
Kate Quirke, Group Managing Director | |
27 January 2022 | |
COMMERCIAL IN CONFIDENCE | 1 |
Q2 FY22 Financial Highlights
Positive operating cash flow & signed largest ever contract . . . | ||||
only | $23.3M | +$1.5M | $27.7M | Acquired |
use | Contract | Operating | New Sales | Silverlink PAS |
Signed | Cashflow | software | ||
In Consortium | Driven by $9.9M | $6.2M to be | Positioning | |
led by Leidos | Q2 cash receipts | recognised in | Alcidion to | |
ersonal | Australia, to | Total YTD cash | FY22 | become cloud- |
deliver | receipts $16.4M | native, modern, | ||
modular | ||||
Healthcare IT for | ||||
Commonwealth | Electronic Patient | |||
of Australia | Record provider | |||
1. | PCP = Prior Corresponding Period |
COMMERCIAL IN CONFIDENCE
$27.1M
Contracted
Revenue
To be recognised
in FY22
Up 25% on PCP1
Includes $3.8M from Silverlink
$1.9M scheduled
renewal revenue
expected to
convert
$18.9M
Cash Balance
As at December
31 2022
2
Q2 Trends
only | |
use | |
• Sold $27.7M of new sales in Q2 | |
with $6.2M to be recognised in | |
FY22 | |
• Comprises $15.4M of recurring | |
ersonal |
revenue & $12.3M of non- recurring revenue
• Includes $23.3M initial contract value for Health IT Project for Commonwealth of Australia
COMMERCIAL IN CONFIDENCE
- At Q2 end, contracted revenue able to be recognised in FY22 was $27.1M
- $23.3M organic revenue & $3.8M of Silverlink revenue
- Represents 25% increase on pcp
- Contracted revenue only includes revenue from current signed contracts
- Generated positive operating cashflow of $1.5M for quarter
- Cash receipts from customers in Q2 were $9.9M, 125% increase on pcp
- Resulted in total cash receipts of $16.4M, 52% higher than same time in previous year
3
Q2 FY22 Operational Highlights
onlyLeidos Contract
useSilverlink Acquisition
ersonalAdditional Contract Wins
- Signed largest ever contract, as part of a Consortium led by Leidos Australia, to deliver key capability for a Healthcare IT project for the Commonwealth of Australia
- Further potential to take up Miya Observations & Miya Assessments
- $23.3M TCV over 6 years & options to renew up to 15 years creates possible TCV of approximately $50.0M
- In December 2021, Alcidion acquired Silverlink, one of the largest & few remaining specialist Patient Administration System (PAS) providers servicing UK NHS market.
- Acquisition provides Alcidion with core PAS capability, expanding overall product offering & positioning Alcidion to offer a cloud-native, modern, modular Electronic Patient Record (EPR) to rival major global vendors
- In addition, expands company's UK presence to 38 NHS Trusts, ~26% market presence, while also expanding addressable market
- Three-yearcontract with Sydney Local Health District for Miya Precision to support rpavirtual operations
- First ExtraMed contract since acquisition for Queen's Hospital Burton for Inpatient Flow Manager
- Extension of three years for Royal Derby Hospital for Inpatient Flow Manager
4
Outlook
only | Near-term Sales Outlook | |
• | Contracted revenue for FY22 of $27.1M at 31 December 2021 | |
(includes $3.8M from Silverlink) | ||
use | - Further $1.9M of scheduled renewal revenue expected to | |
be converted to contracted revenue & recognised in FY22 | ||
Pipeline continues to develop with new Miya Precision | ||
• | ||
opportunities progressing further through contract | ||
negotiation stage | ||
ersonal | - Further cross sell opportunities related to recent | |
acquisitions (ExtraMed & Silverlink) | ||
2nd half historically a strong period for new sales, particularly | ||
• | ||
in UK as coincides with end of their financial year (31 March) | ||
- Pressure on healthcare systems driven by accelerating | ||
COVID figures impacting speed (not willingness) of | ||
decision making / negotiation for major contracts |
Silverlink Opportunity
- Acquired Silverlink in December 2021, expanding overall product offering & ability to offer modular, cloud-native EPR/EMR platform
- Expands market presence & overall customer TAM
- Initial feedback from customers (& broader industry) very positive, facilitating significant cross / up sell potential to existing customers
- Several new conversations underway with prospective customers about broader modular EPR offering
5
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Alcidion Group Limited published this content on 26 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2022 21:48:20 UTC.