A Walk-Through Elsight’s Performance during the First Half of FY20

03 Sep 2020, Elsight Limited (ASX:ELS), a top-notch technology solutions provider reinventing real-time data transmission, on 31 August 2020, has released its half-year financial report for the period ended 30 June 2020 (1H FY20).

  • Elsight achieved a significant milestone with over 15 extensive POC trials currently progressing across several key verticals.
  • Elsight took advantage of the new opportunities that arose concerning the healthcare infrastructure amid COVID-19 and received an initial order for Halo from Kinetx Prime, LLC (US$1.6 million) and Alrena Technologies (US$0.3 million), its strategic partner since 2017.
  • Elsight’s strengthened cash and cash equivalents, net asset position and working capital for first half of FY20 was backed by a capital raise of US$1,975,723 in the March quarter as well as US$350,306 received in the June quarter on the exercise of options.
  • Following proceeds from placement and aggressive cost-cutting steps, Elsight is well-placed to face significant economic challenges, while modifying numerous strategic moves to take advantage of both new as well as notable opportunities primarily in the rural, drones, remote healthcare, and working environment.

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