Hydrix Limited (AU:HYD) has released an update.
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Hydrix Limited reported a revenue of $10.6 million for FY2024, a 19% decrease from the previous year, attributed to various challenges including client funding and delayed project commencements. Despite this, the company saw a significant increase in international sales, particularly in cardiac and medtech sectors, and has retained capacity for anticipated growth while reducing its operating costs. The company also highlighted a potential future revenue of $40 million and is optimistic about its pipeline for remote cardiac monitoring software, expecting over $2.5 million in annual recurring revenues.
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