Might pay to consider the effect of 14 extra sales personnel since the 2022 HY results as well- one would assume they would have had at least a couple of months input to the second half after training.
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Pre leak on update tomorrow? Quite a last minute 5% push and volume swelling on bids within the last hour compared to all week.
I feel this might be a disappointing announcement, I’m guessing 11.3 million turnover, but the game is apparently longterm and so longterm many have been waiting for years and years and years. Covid seems to be the go to excuse, but now we see that covid is not that bad currently 🤞, we may see better results next year. I’m still invested but I don’t think we will se higher than those numbers. Happy to be wrong
We are due for a SE asia update - some evidence that it is forthcoming by the recent Lab completion announcement.
Pacific Edge CEO, Dr Peter Meintjes, said: “The upgrade – the first since the laboratory was opened in 2011 – highlights our confidence in Cxbladder becoming embedded as the standard of care for the diagnosis and management of urothelial cancer in the Asia Pacific and further afield.”
“It gives us the space to expand testing capacity as the volume of tests from the Asia Pacific rises, supports the implementation of anticipated commercial tests as they emerge from research and development, and provides our team with a better working environment.”
At 20 million it still trades at over 30 times sales. Zoom was 29x, now about 5x and Zoom makes a profit.
Audited Financial Results for the year to 31 March 2022 - NZX, New Zealand’s Exchange
PACIFIC EDGE SEES GROWTH INITIATIVES GAINING TRACTION
HIGHLIGHTS:
• Annual operating revenue increased 49% to $11.4 million, while total revenue increased 33% to $13.9 million
• Total laboratory throughput (TLT) of Cxbladder tests increased 46% to 23,086 tests, while commercial tests (CT) increased 48% to 19,196 tests
• COVID-19 healthcare restrictions constrained growth. The easing of those restrictions and new hires drove increases in TLT and clinician engagement in the final months of the financial year
• Net losses after tax increase to $19.8 million from $14.2 million, reflecting a 37% increase in operating expenses to $33.7 million as the company invested to drive growth
• Initiatives of the Investment Program to drive customer retention, growth, and clinical evidence generation relevant to guideline inclusion announced
• The initiatives of the Investment Program in FY23 will be phased in proportion to business milestones to responsibly manage burn rate
• Pacific Edge is well funded with cash and cash equivalents and short-term deposits at $105.4 million at the end of the financial year, following the successful $103.5 million capital raise and dual listing on the ASX in 2021