Uscom 2017 Annual Report

For Uscom shareholders 2017 was the 5th successive year of record revenues while investing in development and regulatory preparation of 7 new products for release in FY 2018. It was a year in which the Uscom Board and Management continued to execute our growth strategy and set a course for continued growth. We have built the foundations for a great medical device Company.

Uscom Annual Report 2017 Total Annual Income

View the 2017 Annual Report

2017 Headlines:

  1. Record sales, total revenues and cash receipts (5 years of consecutive record revenue growth)
  2. Total revenue up 19% to $3.49M (5 year CAGR – +32% pa)
  3. Cash receipts up 20% to $3.52M (4 year CAGR – +36% pa)
  4. Net cash used in operating activities down 26% to $0.95M
  5. Intermittent cash flow positivity
  6. VWAP share price up 25% to 25c (5 year CAGR – +18% pa)
  7. Uscom Europe total revenue growth 21% (from $0.58M to $0.70M)
  8. Implementation of dual path China distribution model in preparation for BP+ and SpiroSonic CFDA
  9. Seven new BP+ and SpiroSonic devices prepared for market and revenue in FY 2018
  10. Establishment of new Sales, Marketing and Distribution division
  11. 1000th USCOM 1A customer sale

For FY 2017 we delivered continued growth for shareholders while maintaining prudent and efficient use of resources as we continued the development of our 7 new products, prepared and submitted multiple regulatory applications, continued investment in product R&D, and met significant one off operational costs. Uscom has invested in strategic acquisitions, established a global corporate model, consolidated the Uscom Europe volume manufacturing facility, and prepared 7 new products as a growth platform for Uscom in FY 2018 and beyond. These investments have been made with existing resources and therefore the balance sheet remains debt free, and the forthcoming revenues from these investments are planned to reliably underwrite growth and shareholder value over the coming decade.

Uscom has established a culture of pursuing growth, informing investors, and executing on that strategy to the benefit of shareholders, and this is planned to continue as we target ongoing growth in FY 2018 with the release and sale of our 7 new products.