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Hydrix Limited ( (AU:HYD) ) has shared an update.
Hydrix Limited reported its strongest quarterly revenue in 12 months, with Hydrix Services generating $2.7 million in the March quarter, up 17% on the prior quarter and 15% on the previous corresponding period. The company also secured $3.9 million in new contract sales, including an initial $2.5 million stage to collaborate on SynCardia Systems’ next-generation total artificial heart, contributing to an active client base of 15 programs with an estimated aggregate value above $40 million.
Group-wide, Hydrix reduced its cash operating loss to $0.4 million, a roughly 45% improvement on both the prior quarter and year-ago period, supported by stronger Services revenue and a leaner cost base. The company ended the quarter with $0.2 million in cash and has a non-binding letter of comfort from directors for up to $2.5 million to support short-term liquidity, as it focuses on scaling services within its existing cost structure and advancing remote cardiac monitoring software sales through Hydrix Medical.
More about Hydrix Limited
Hydrix Limited is an Australian medtech-focused company whose mission is to harness innovation to deliver high-impact technologies that empower lives. It operates across three segments: Services, which designs, engineers and delivers world-first products; Ventures, which invests in high-potential medtech clients; and Medical, which distributes disruptive cardiovascular products.
Average Trading Volume: 290,700
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$3.27M
See more insights into HYD stock on TipRanks’ Stock Analysis page.