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Mach7 Technologies (ASX: M7T): A healthcare technology stock with a 5-year CAGR of over 22%

Fri 23 Jun 23, 09:40 AM | Team Kalkine

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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:

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