We’re here today with Ralph Highnam CEO Volpara Health Technologies. Ralph thanks for your time.
Ralph Highnam: [00:00:14] Thank you David. It’s a pleasure to be here.
David Tasker: [00:00:16] Are you able to share some of the Volpara history and background?
Ralph Highnam: [00:00:19] Volpara was really born from the Oxford Robotics Lab which is all around artificial intelligence in the early 1990s. Well we set out to start quantifying improving breast cancer screening. During the 1990’s the world really wasn’t ready for kind of big data to apply it to breast cancer screening. But what we did was we kind of moved off from breast into brain and we were very successful there. That led me to New Zealand where in 2009 I sat down with Professor Mike Brady one of the founders of Volpara and said all the technology we’ve developed in Oxford now is the time to take it to market and hence Volpara was born. Real focus on early detection of breast cancer to try and save some of the 500,000 women a year that die.
David Tasker: [00:01:03] And some of the recent milestones the company has been able to achieve.
Ralph Highnam: [00:01:07] Over the last year we’ve launched a cloud based software as a service product which has been extremely successful. Twenty five customers now mostly in the US and we have got some great case studies coming through explaining how they’re improving the consistency of care for their patients. Also they’re generating more money for the actual sites themselves.
David Tasker: [00:01:30] And what milestones should investors focus on from the company over the coming months?
Ralph Highnam: [00:01:35] We are now a software service company and the key metric really is annual recurring revenue (ARR). We basically went from the start of financial year 16 to 17 from 0 up to just over a million. And after six months of this year right start over 2 million. And our stated aim this year is to get over 3.3 million of annual recurring revenue so that’s really the key milestone. You are going to see us producing new products to go back to the installed base again we are a SAAS company and that is the kind of thing we have to start doing and start to really drive home first mover advantage, sticky product and so on.
David Tasker: [00:02:14] Ralph thanks for your time.
Ralph Highnam: [00:02:15] Thank you David.