MyFiziq is working on a selfie app that will predict if you’re going to get fat
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Body shape app MyFiziq — one of last year’s best performing ASX small caps — is working on mobile phone technology that will predict if you are likely to get fat.
MyFiziq’s phone app lets users take a selfie to measure changes to their body shape via an “avatar” or digital body model.
The app already tracks data such as weight loss and muscle gain — but the software maker wants to go further, creating “predictive models” to forecast future body measurements.
“One of the major objectives the MyFiziq team are looking to release this year is predictive models that learn from previous avatar results and will enable the app to estimate future results to assist in consumer goal-setting and engagement,” the app maker told investors.
“By extrapolating trends the application will be able to forecast circumference measurements over time to assist the user in understanding the results they can achieve under their chosen nutrition and exercise programs.”
MyFiziq (ASX:MYQ) is also working on an Android version of the app and integration of its technology into apps made by partners Fitocracy and Mayweather.
MyFiziq hit positive cashflow of $1.2 million in the December quarter, compared to cash-burn of $970,000 in the previous three months.
The software maker collected the first revenue from its app in December — booking $1.8 million in customer receipts compared to $13,000 in the previous quarter. That left $1.3 million in the kitty — with plans to spend $911,000 this quarter.
The app maker was one of the best performing ASX stocks of 2017, hitting a high of $1.65 in December — a 20x return in just a few months.
The shares have since declined 40 per cent, settling at about $1, valuing the company at $66 million.
MyFiziq has been contacted for comment.