Respiri (ASX: RSH)

Last close As at 24/02/2024

AUD0.03

0.00 (−3.57%)

Market capitalisation

AUD29m

Respiri is an Australia-based medical device and SaaS company focused on respiratory health management through its integrated wheezo platform. Its technology records data such as wheeze rates, breath recordings and other environmental factors and medication usage. Wheezo was launched in the US in December 2021.

Despite the relatively large target patient population (asthma and chronic obstructive pulmonary disease), the key consideration for Respiri’s US push is the established reimbursement infrastructure. The Centers for Medicare and Medicaid Services has established current procedural terminology codes for RPM reimbursement coverage. With key technology patents, two telehealth partners and reimbursement arrangements in place, Respiri is well positioned and has a first-mover advantage.

Latest Insights

View More

Healthcare | Update

Respiri — Access platform-led growth prospects ahead

Healthcare | Flash note

Respiri — Early onset of synergies from Access acquisition

Healthcare | Flash note

Respiri — Raise anticipated to fund the Access acquisition

Healthcare | Flash note

Respiri — wheezo to access a larger addressable market

Happy children launch a kite in the field at sunset. Little boy and girl on summer vacation

Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Arron Aatkar

Associate analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Nidhi Singh

Nidhi Singh

Analyst

Key Management

  • Marjan Mikel

    CEO

  • Nicholas Smedley

    Chairman

  • William Sigsbee

    Chief commercial officer

Balance Sheet

Forecast net debt (A$m)

0.7

Forecast gearing ratio (%)

26

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 8 (15.625) (41.3044)
Relative 5.7618 (21.9274) (43.9036)
52 week high/low A$0.1/A$0.0

Financials

Respiri is an Australian medical device and SaaS company developing a novel remote patient monitoring (RPM) approach to respiratory health management through its integrated wheezo platform. With a commercialisation focus on the US market, Respiri completed the acquisition of Access Managed Services (its US RPM partner) in August 2023 for total cash consideration of A$4.5m, following which the realizable average RPM monthly fee has increased to US$85 per patient/month (vs US$10–20/patient previously). The company continues to guide for break-even at 9,000 patients by end CY24. In Q124, the company secured four new RPM contracts with US healthcare providers and raised A$6.5m in a private placement in December 2023, which extended the cash runway into H2 CY24.

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 0.8 (6.2) (6.3) (0.87) N/A N/A
2023A 0.7 (5.4) (5.4) (0.67) N/A N/A
2024E 6.6 (1.7) (1.8) (0.20) N/A N/A
2025E 11.9 0.5 0.4 0.03 90.0 8763.3

Thematics

Subscribe to Edison

Get access to the very latest content matched to your personal investment style.

Sign up for free