Helius Medical Technologies Inc (HSDT)

[tykundegex]

News out: they signed 3 more clinics in Canada. They'd originally set an objective of 3 more for the entire year, so they're significantly ahead of schedule. Recall that they expect about 90 devices per year per clinic, so that translates to $5,400,000 more revenue (annualized) from these 3 clinics, bringing their ARR projections to over $7MM.

If revenue does grow in-line with the parameters the provided, they would need 10 more clinics to be profitable (fewer for just EBITA + / CFP).

Their TAM for Canada alone is about 350,000 patients (about 4000 clinics worth).

When they get US FDA clearance, it's a game changer.

I'm not a buyer just yet.. but if they announce more clinics and next Q or two show predictable revenue progress, I likely will be.