MedAdvisor delivered the best of the ASX quarterly cash flow reports this morning
Nick Sundich, January 23, 2023
It’s that time of the quarter again when ASX quarterly cash flow reports are released en masse. Of all the companies releasing ASX quarterly cash flow reports today, MedAdvisor (ASX:MDR) impressed the most.
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MedAdvisor was the best
MedAdvisor is a company that helps people manage prescribed medicine via an app, reminding them when to take specific medications, when to fill recurring scripts and chasing them up when they forget – among other functions.
The company’s 2Q23 report delivered 90% higher operating revenue at A$44.1m. Of this, $39.4m came from the US and $4.7m was derived from Australia.
Cash flow from operations was in the green by $21.4m, thereby boosting its cash balance from $11.9m to $32.7m. MedAdvisor credited the result to increased uptake by pharmacies in the US. It now boasts a network of over 30,000 pharmacies, enabling access to 60m people.
MedAdvisor share rose by ~20% this morning.
MedAdvisor (ASX:MDR) share price chart (Graph: TradingView)
Other ASX quarterly cash flow reports, not so much
Of today’s ASX quarterly cash flow reports, MedAdvisor was not the only one to be cash flow positive. Two other companies were Dropsuite (ASX:DSE) and Love Group (ASX:LVE).
But both companies failed to get shareholders as excited because their cash flow was barely positive and unchanged compared to the previous quarter. Dropsuite made just $450,000, while Love Group made $153,000, down 23% and up 142% respectively.
If either or both companies can improve their results in their next ASX quarterly cash flow report, however, it is not an unreasonable proposition that they could see a share price spike as a consequence.
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