CardieX Limited, a global health technology company, has continued to make considerable strides in the health sector through its innovative products and has provided its fiscal update for the June 2021 quarter. The latest report emphasizes the company’s commendable performance during the quarter, as seen in the Appendix 4C – Quarterly report.
CardieX’s total revenue for the June quarter was an impressive AUD$1.222m (Unaudited), an increase from its preceding quarter revenue. Moreover, the balance of net assets amounted to AUD$ 6.9m as of June 30, 2021, demonstrating an exemplary financial position of the company. It’s essential to note that the results came despite the challenges and impacts of the COVID-19 pandemic.
The company posted a remarkable outstanding debt reduction from AUD$ 750K to AUD $118K. The financial metric demonstrates Cardiex’s resilience and its steadfast commitment towards efficient financial management, even under dire circumstances presented by the global pandemic.
CardieX’s robust financial performance is partly attributable to its innovative products. Foremost among these is ATCOR, a division of CardieX that leads the global market in developing non-invasive central blood pressure and arterial health testing solutions. ATCOR’s patented SphygmoCor® technology offers an essential tool for cardiovascular risk assessment and management – enabling the measurement of central blood pressure non-invasively.
With a priority set on research and development, CardieX has an ongoing clinical trial with Blumio, their strategic partner, in a bid to commercialize a sensor based on radar technology. This sensor holds the potential to serve as a disruptive technology in the wearable health-tech market due to its non-contact and non-invasive nature, efficiently monitoring vital health signs like respiratory rate, heart rate, and blood pressure.
Furthermore, CardieX confirmed a Co-development and Commercialization Agreement (CCA) with Mobvoi during this quarter. Mobvoi is a leading artificial intelligence (AI) company and through the CCA, both CardieX and Mobvoi will co-develop affordable, innovative, high-quality consumer smartwatches infused with cardiovascular features that are based on CardieX’s central BP technology. This partnership is expected to open new avenues for additional revenue streams into the consumer health sector.
The quarterly report further throws light on multiple advancements in the corporate sector of the company. Notably, the company added Mr. Robert Joseph Thomas to the board of directors, a step expected to impart strategic excellence to the organization. Also, Mr. Craig Cooper, the CEO of CardieX, showed an increased commitment towards the company by subscribing to an additional 10 million shares.
In summary, the June 2021 quarter reflects the relentless dedication of CardieX to improve health outcomes through innovative technologies and strategic partnerships. The company’s emphasis on financial stewardship has placed it in a solid financial position that will serve as a foundation for continued growth in the subsequent quarters. Despite the uncertain times, CardieX remains on track to bring cutting-edge solutions to market and take significant strides in global health technology.