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CTQ has developed a leading proprietary assistive living technology platform
(Sofihub) with a portfolio of best-in-class solutions for the global aged care,
home care, disability care and personal security sectors. Key products
include falls detection, vital signs monitoring and medication management.
The health-tech industry enjoys significant tailwinds for assistive living
products, driven by the ageing population, rising costs and labour shortages,
technology innovation and recommendations from the Royal Commission into
Aged Care. The market is very fragmented, with no competitor offering CTQ’s
broad suite of products.
CTQ’s income stream is non-discretionary and largely funded by federal and
state governments and insurers. There is a growing recurring revenue
component built on SaaS-based subscriptions to its platform.
The company has built a significant new contract pipeline in recent quarters
and is targeting c.15,000 subscribers on its platform by Dec 2023, which
represents sufficient scale to reach profitability. Cash on hand of $3.6m (2Q
FY23) is likely sufficient to fund operations until breakeven is reached.
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