Quarterly reports for biotechs usually only tell investors how much cash they have left — and how much time they have until the next cap raise.

But December quarterlies from late Friday and today include several companies that are making money.

Crowd favourite breast density imaging company Volpara (ASX:VHT) reported group annual recurring revenue of $NZ16.8m, up from $NZ15.7m in the quarter prior. The company lifted its full year guidance mid-point slightly to $NZ17.8m.

The company wants 27 per cent of US women to have a Volpara product used on their scans and data by the end of the financial year — it’s currently at 25.9 per cent.

Morgans analysts believe annual revenue per user will grow from $US1.02 now to $US8.50 by 2024.

Somnomed (ASX:SOM) had a strong quarter with revenue from core sales growing 19 per cent to $18.7m. Half year sales hit $33.3m, up 15 per cent on the prior corresponding period, and positive operating cashflow was $2.7m.

North American demand for the company’s new AVANT oral device for sleep apnoea underpinned this growth.

Digital health company Alcidion (ASX:ALC) reported half year revenue of $15.4m. To put this in context, in the 12 months to June 2019, it made $16.9m in revenue.

In the December quarter Alcidion signed new and recurring contracts with a total contract value of $3.5m, including a number of significant UK contracts.

As if proving how difficult it can be to make money from medical cannabis, Bod Australia (ASX:BDA) said it received $221,000 in the quarter for its products. It said it made $1m in sales however, which weren’t reflected in the accounts.

The company said its product had been prescribed 1957 times in Australia.

There was no mention of the company’s drug delivery wafer project.


In other news:

Zelira Therapeutics (ASX:ZLD) is collaborating with the US-based Parkinson’s Foundation to gather information from people with PD about their understanding of and use of medical cannabis and hemp-derived therapies, which it plans to use to inform drug development.

Factor Therapeutics (ASX:FTT) is still looking for a project to buy, saying it’s seen a few but none have passed muster. In 2018 a phase 2 clinical trial for a venous leg ulcer treatment failed, and the company has been trying to reinvent itself ever since.