May 21, 2022

ResApp Health (ASX:RAP) Reports 75% Increase in Revenue for the First Half of FY21 – The Market Herald

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  • ResApp Health (RAP) Announces Revenue of $80,900 for the Six Months Ending December 31, 2021, Up 75% Over the Prior Corresponding Period
  • The company also saw its losses rise 16% to $3.63 million from $3.12 million as of December 31, 2020.
  • After signing several agreements during the semester, the company’s smartphone-based breath test is now available in Australia, the Philippines, Indonesia and parts of Europe.
  • Additionally, ResApp is now using data from COVID trials to create, train and validate algorithms to detect and monitor the virus.
  • ResApp is down 1.45% in the market with shares trading at 6.8 cents

ResApp Health (RAP) reported revenue of $80,900 for the six months ending December 31, 2021, up 75% from the prior corresponding period.

The company also saw its losses increase by 16% to $3.63 million from $3.12 million as of December 31, 2020.

ResApp used $3.07 million in operating activities and customer revenue totaled $131,538.

No dividends have been paid or declared and the directors do not recommend their payment.

Operations

In July, ResApp has signed an agreement with telehealth company Doctors on Demand to use its ResAppDx smartphone-based acute respiratory diagnostic test on its platform.

In January, ResApp announced ResAppDx had been successfully integrated and was live on the Doctors on Demand platform.

ResApp then signed an agreement with Medgate AG in August to use ResAppDx on Medgate’s platform in Europe and the Philippines.

This agreement follows a successful pilot trial which confirmed the benefits of the diagnostic test for patients and clinicians.

The same month, ResApp has signed an agreement with Indonesian telehealth company Alodokter to use ResAppDx on the Alodokter platform in Indonesia.

Following these agreements, ResAppDx is now available in Australia, Switzerland and Indonesia with advanced discussions underway with telehealth providers in Asia and Europe.

COVID-19[female[feminine

ResApp continued its recruitment in COVID-19 studies in the United States and India with the study aiming to collect COVID-19 audio and PCR test results to train an algorithm to identify the virus using only a smartphone.

A total of 337 patients were recruited, including more than 200 COVID-positive cases, in India and 261 patients, including 112 positive cases, were recruited in the United States.

ResApp is now using the data to create, train and validate algorithms to detect and monitor COVID-19.

ResApp was down 1.45% in the market with shares trading at 6.8 cents at 11:42 a.m. AEDT.