Volpara Health hits new records for FY21
Volpara Health Technologies, a health technology software company whose integrated breast care platform assists in the delivery of personalised care, provided a business update on the fourth quarter of FY21.
Volpara recorded its largest-ever Q4, and its largest-ever quarterly sales performance, adding US$1.1 million of ARR and bringing total ARR, including that of the recently acquired CRA Health, to US$18.6 million. Organic growth, excluding its CRA Health business, resulted in a new ARR of US$800K, giving a 20% organic growth increase in ARR over the last year. This is despite increased, although still low, churn related to COVID-19 cost pressures and customer-related COVID-19 IT delays over the last financial year.
The company’s Q4’s sales mix included its largest contract to date, announced in early March; multiple existing customers expanding; plus major new deals with prominent academic centres, including Volpara’s biggest-ever deal for its market-leading Volpara Live image positioning software.
Volpara also reiterated that as a result of the tailwinds they are seeing in the United States, the company’s main focus is shifting to risk and genetics for FY22 as they seek to further accelerate sales growth. Consequently, their move to provide women with the information needed to make informed decisions is now planned to begin in October 2021; a new form of patient letter that includes the woman’s breast images will be launched at that time, to engage women directly and fill the clinical need that exists in the space.
On Q4FY21, Volpara Group CEO Dr Ralph Highnam said: “The contracts that Volpara secured in Q4, despite the continuing challenges of the COVID-19 pandemic, show the clear clinical need for our products, the strength of our sales and marketing teams globally, and the successful pivot to a greater focus on risk and genetics. We are very pleased with how the financial year has ended, and we look forward to accelerating out of COVID-19 in FY22 and to working ever closer with our new colleagues at CRA Health in Boston following its acquisition in early February.”