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Highlights

  • As of 23 June 2023, M7T shares have delivered a total return of 175% in the last five years
  • Mach7 Technologies Limited provides medical imaging systems to hospitals and other healthcare service providers
  • The company reported a 156% year-on-year jump in sales orders to AUD 11.3 million on a total contract value basis for the third quarter ended 31 March 2023

Mach7 Technologies Limited (ASX: M7T) is not one of the widely tracked ASX-listed companies, but definitely, the company has not disappointed its long-term shareholders. As of 23 June 2023, M7T shares have delivered a total return of 175% in the last five years, resulting in a compounded annual growth rate (CAGR) of 22.42%, a decent return.

For the uninitiated, Mach7 Technologies Limited provides medical imaging systems to hospitals and other healthcare service providers. The ASX-listed company provides innovative image management and viewing solutions. Its offerings are based on the Mach7 Enterprise Imaging Solution, which comprises Enterprise Data Management, Enterprise Diagnostic Viewing and Diagnostic Workflow applications.

The company reported a 156% year-on-year jump in sales orders to AUD 11.3 million on a total contract value basis for the third quarter ended 31 March 2023. With this, its FY23 year-to-date sales orders stood at AUD 37.1 million. Meanwhile, the company reported annual recurring revenue (ARR) run rate of AUD 17.2 million, up from AUD 16.4 million as at 31 December 2022. Here is how the company has performed on revenue growth and other key financial metrics:

M7T's FY23 Outlook

The medical technology company has already exceeded its FY23 sales order forecast of at least AUD 36 million as it recorded sales orders of AUD 37.1 million as of 31 March 2023. The company expects to register more than 20% revenue growth and positive cash flow for FY23. The company remains focused on adding new customers, launching new product versions for each of its core products, and improving brand recognition.

Top 10 Shareholders

The top 10 shareholders of the company together hold nearly 47.51% of the total shareholding. JM Financial Group Ltd. and Australian Ethical Investment Ltd. hold maximum stakes in the company at around 14.33% and 11.21%, respectively. 

M7T Share Price Performance

The stock price has gone up by ~1.85%% in the last one month and over the last 6 months, stock prices went down by ~1.79%. The stock has a 52-week low and 52-week high of AUD 0.445 and AUD 0.800, respectively, and is currently trading below the mid-range of the 52-week-high-low levels.

 Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, is 23 June 2023. The reference data in this report has been partly sourced from REFINITIV.