Welcome to our dedicated page for CLOUD DX news (Ticker: $CDXFF), a resource for investors and traders seeking the latest updates and insights on CLOUD DX stock.
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Cloud DX signed a multi-year contract with a Canadian Provincial Health Authority for remote patient monitoring services. The contract has a term of 36 months with 2 extensions of 12 months each. The average value of each individual subscription is $1,520 CAD per year. Cloud DX now holds 4 Provincial-level contracts in Canada and has announced 26 new contracts in 2024, indicating significant growth.
Cloud DX reported strong financial performance for FY2023 with a 55.4% increase in total revenue, 69% increase in subscription revenue, 112.8% increase in gross profit, and 20.4% reduction in operating loss compared to FY2022. The company saw significant growth in new contracts, especially in the healthcare sector, leading to improved revenues. Operating expenses were reduced, leading to increased profitability. Cloud DX also announced several new contracts and contract extensions post FY2023, showcasing continued growth and business expansion.
