Financials (year ended 31 March 2016). Sales revenue increased by 31% over previous year to NZ$ 2.5 million
. Gross margins of almost 80%
. Net operating loss of NZ$ 4.5 million as expected
. Total comprehensive loss of NZ$ 30.3 million (due to NZ GAAP accounting treatment – characterising convertible preference shares as debt, instead of equity)
Operational update. US is largest market (total addressable market of A$1 billion)
. Focused on building US global sales and marketing team as key growth strategy
. Launched VolparaDensity 3.1 – only breast density assessment tool available for clinical use with breast tomosynthesis data sets from Hologic, GE Healthcare and Siemens systems.
. VolparaDensity 3.1 approved by US FDA to cover tomosynthesis (3D form of x-ray) and to provide output using the American College of Radiology’s Breast Imaging Reporting and Data System (BI-RADS) 5th Edition density assessment protocol
. Achieved significant growth and development of the Volpara IP portfolio, which now includes 123 national patent applications, 4 granted patents, registered trademarks in 93 countries, 6 unregistered trademarks, copyright works and trade secrets, with numerous further patent applications in various stages of examination or filing
. Achieved number of major sales to major medical institutes in the US, traction from some of Volpara’s distributors and first sales to early adoptors in several countries around the world
. Awarded Frost & Sullivan award for 2016 for Global Breast Density Assessment Solutions Competitive Strategy Innovation & Leadership
. Named 2015 Cisco Hi-Tech Emerging Company of the Year at the NZ Hi-Tech Awards
Focus for FY17. Commercial launch of VolparaEnterprise
–cloud-based analytics product
– currently in beta testing in numerous clinical environments
– provides recurring revenue stream
– enables Volpara to appeal directly to budget holders as well as clinicians
– provides greater competitive advantage by allowing companies to offer integrated services
IPO. Listed on ASX on 27 April 2016
. Raised full subscription amount of $10 million
