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An update from Hydrix Limited ( (AU:HYD) ) is now available.
Hydrix Limited reported a strong second consecutive quarter of revenue growth for its Hydrix Services segment, with sales reaching $3.35 million, 80% of which were international. The company added two new clients in the USA and Europe, and its ongoing projects with 15 clients suggest potential future revenue of over $35 million. Hydrix Medical is advancing sales of its cardiac monitoring software, while Gyder Surgical, a Hydrix Venture company, is preparing for its first-in-human surgical cases in the USA and raising capital for market expansion. Despite a $0.57 million operating loss, this marks a 25% improvement from the previous quarter, supported by a $2.5 million Letter of Comfort from major shareholders.
More about Hydrix Limited
Hydrix Limited (ASX: HYD) is an innovation-driven company that focuses on delivering impactful technologies to empower lives. It operates across three business segments: Services, which designs, engineers, and delivers world-first products and innovations; Ventures, which invests in high-potential medtech clients; and Medical, which distributes disruptive cardiovascular products.
Average Trading Volume: 494,423
Technical Sentiment Signal: Buy
Current Market Cap: A$4.09M
Learn more about HYD stock on TipRanks’ Stock Analysis page.