Volpara Strengthens Financial Position with Reduced Credit Facility and Recognised as Global Microsoft Partner Volpara Health Technologies Limited

Volpara Strengthens Financial Position with Reduced Credit Facility and Recognised as Global Microsoft Partner

Post image

Wellington, NZ, July 4, 2023: Volpara Health Technologies (ASX:VHT), a global leader in breast cancer detection software, has made significant financial strides by reducing its revolving credit facility and being named the global Microsoft Healthcare & Life Sciences Partner of the Year for 2023.

Volpara has reported a third successive quarter of strong cash flows, leading to its decision to reduce its revolving credit facility from NZ$10 million to NZ$2. 5 million. The business has operated on an approximately free cash flow break-even basis since the implementation of its revised strategy in late July 2022. With staffing changes completed in late August 2022, the company's Q1FY24 demonstrated another strong quarter of cash inflows.

These positive financial results, coupled with over NZ$12 million in cash on hand and expected repeatable positive operating cash flow, have prompted Volpara to reduce the credit facility, which is no longer deemed necessary. Over the next six months, management plans to evaluate the business's cash position further with the intention of reducing the facility even more.

Story Continues.. after this ad because we need some dollarydoos



The reduction in the revolving credit facility will result in additional cost savings of NZ$112,500 per annum.

In addition to the financial update, Volpara has been recognised by Microsoft as the global Healthcare & Life Sciences Partner of the Year for 2023. This prestigious award highlights Volpara's significant contributions and advancements in the healthcare and life sciences sector. Volpara's breast cancer detection software has proven to be instrumental in improving early detection rates and enhancing patient outcomes worldwide.

Volpara will provide a comprehensive report of its Q1FY24 results on Friday, July 21, 2023. A notification with a webinar link will be lodged with the ASX next week, allowing stakeholders and investors to gain valuable insights into the company's financial performance.

Leveraging this strong financial position and strategic partnerships, Volpara is well-positioned to continue driving innovation in breast cancer detection and contribute to the advancement of healthcare solutions across the globe.

Promote your business on our growing investor platform: Advertise With Us

Lykeshares 1y

#ASX:ASN Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?

Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
Lykeshares 1y

#ASX:AZL Could the Dawson Bay Formation Unlock Arizona Lithium’s Full Potential?

Could the Dawson Bay Formation Unlock Arizona Lithium’s Full Potential?
Lykeshares 1y

#ASX:CXO Is Core Lithium’s Finniss Project Poised for a Long-Term Comeback?

Is Core Lithium’s Finniss Project Poised for a Long-Term Comeback?
Lykeshares 1y

#ASX:ENR Can Encounter Resources’ West Arunta Project Become Australia’s Next Major Niobium Discovery?

Can Encounter Resources’ West Arunta Project Become Australia’s Next Major Niobium Discovery?
Lykeshares 1y

#ASX:RDN Can Raiden’s Latest Hires Unlock the Full Potential of the Andover Complex?

Can Raiden’s Latest Hires Unlock the Full Potential of the Andover Complex?
Lykeshares 1y

#ASX:RDN Can Raiden’s New Drilling Program Unlock High-Grade Lithium at Andover South?

Can Raiden’s New Drilling Program Unlock High-Grade Lithium at Andover South?

Lykeshares 1y

#ASX:ASN How Will Anson Resources' Green River Lithium Project Shape the Future of Sustainable Mining?

How Will Anson Resources' Green River Lithium Project Shape the Future of Sustainable Mining?