Mach7 Technologies Limited

All right, let's get company-specific now. And Mac7 Technologies' share price on a tear yesterday, finishing up 9% on its Q3 update. The company reporting quarterly cash receipts, a 98% increase to $8.4 million. And to take us through the details, CEO Mike Lampron joins us now live. Mike, thanks so much for joining us this morning. Just give us a bit more detail on those numbers that you reported.

Yeah, sure. Thanks for having me. This quarter was a really strong quarter for us. Actually, the strongest quarter that the company has had from a cash perspective. Expected results, results that we alluded to when we did the first half year results calls in February. It was a combination of a strong Q2 from a sales perspective, leading to more cash in Q3. as well as some great synergies that we're finally starting to see through our acquisition of Client Outlook and some continued good success out of our Hong Kong partners.

Yeah, so where are your main partners then? Is it here locally? Is it in the US or is it mainly based in Asia?

Yeah, we've actually narrowed in our focus as a company starting back about 18 to 20 months ago. Where we were focused sort of globally, we are now focused in two geographies, the North American geography and the Asia Pacific geography. We do dabble a little bit through a few countries in Europe, but we are primarily focused on those two geographies. We actually currently do not have a customer in Australia, but it's an area that we're looking for the right opportunities to find a way to start bringing our product to Australia.

And I'm guessing that reopening play when it comes to the US, the vaccination story is going to help your growth going forward.

Yeah, for sure. In the US, things are definitely starting to open up. Vaccines are strong. And it seems to be having a pretty well-received number of takers that are willing to become vaccinated. That, along with the fact that we do see some more just genuine willingness to open up a business. And our hospitals are starting to bring in more business. patients are starting to come back, more routine exams are starting to be completed. And I think that there's certainly a push by the average citizen to just have some normalcy back in their lives. And part of that is their routine health care. And that, of course, is what the hospitals need in order for them to predict their cash flow and their requirements for the rest of the year.

Mike, what's on the table when it comes to new products?

Oh, great, great question. You know, we're, we're nine months into an acquisition of client outlook client outlook was a good company that was built around an enterprise viewer, a medical imaging viewer, we've begun the integration of that product into our core DNA or vendor neutral archive product. that we use to establish an enterprise imaging platform for large hospital groups, small hospital groups, anyone that has an imaging need. We're seeing a lot of new product demand around getting the medical images outside of the walls of the hospital where physicians can be working outside of the hospital. Maybe they're at home, maybe they're at another hospital, but giving them access to those images so that they can still help with the healthcare of patients when they can't sometimes get to the hospital. That's opening up different opportunity from a business perspective, but it's also opening up opportunity from a product perspective. And right now for us, it's all about the continued delivery of that remote model, the continued delivery of workflow solutions and doing our part and trying to make sure that our technology can help the physicians more easily and more accurately diagnose.

And what's competition like in this space and how far did trademarks play a part in your product having an advantage?

You know, trademarks are not not the end of the world, really, in our in our market. Digital imaging in the world has has been around for a very long time. In the mid 90s, it really started. I would say most sophisticated institutions, hospital institutions around the world have got what they call a PACS system, a picture archive communication system, essentially the means to archive and view store and distribute digital imaging for radiology. They're generally systems that are built for the radiology department though. So when we think of that PACS industry, it's a replacement market. It's a market where people are, people already have a solution in place and they're looking to replace that solution. And that's where we come in. So it's been around for a long enough time where specific patents generally don't come into play. I think we see more patent work around AI and advanced visualization and some of the new methodologies that people have used to refocus and recalibrate some of those images.

Mike, thanks so much for joining me this morning. We wish you the best of luck with it.

Yeah, thank you very much. Have a great day.

Mike Lampron there from Match 7 Technologies. As you can see there, the share price trending over 150% on the year.