What are the recent business updates unveiled by MyHealthChecked?

Summary

  • MHC had generated revenue of £26,146 from the launch of the COVID-19 PCR nasal swab test kit in December 2020.
  • The Company had reported a net loss of negative £3.76 million for FY20.
  • MHC had a cash balance of £465,671 as of 31 December 2020.

MyHealthChecked PLC (LON: MHC) is the healthcare stock listed on the London stock exchange. MHC’s shares have generated a return of 203.70% in the last 12 months. MHC is listed on the FTSE AIM All-Share index.

Company Overview

MyHealthChecked PLC is the FTSE AIM All-Share listed Company offering at-home testing brands such as MyHealthChecked and MyLotus. Moreover, it provides a range of at-home DNA and RNA tests and has acquired The Genome Store in November 2020.

FY20 Financial Highlights (for the 52 weeks ended 31 December 2020 as of 04 June 2021)

Decent Growth in Top-Line business – The revenue had increased from £31,970 during FY19 to £49,480 for FY20, driven by the launch of the COVID-19 PCR nasal swab test kit for at-home on 05 December 2020. MHC had generated revenue of £26,146 since then from the acquisition of Genome Store in November 2020. Furthermore, the revenue from MyLotus/MYLO brands remained at £22,994 during FY20.

Weak Profitability – MHC had widened the net loss from negative £2.15 million during FY19 to negative £3.76 million for FY20 due to a significant rise in administrative cost during the period. Moreover, the basic and diluted earnings per share stood at negative 1 penny for FY20. MHC had not declared any dividend for FY20. Furthermore, the Company had announced the appointment of Gareth Davies as Chief Financial and Operations Officer.

Significant reduction of Group cash flow – MHC had a cash balance of £465,671 as of 31 December 2020, while it was £616,263 as of 31 December 2019. The Company had witnessed a net cash outflow of £2.16 million from operating activities and a net cash inflow of £37,003 from investing activities. The Company holds a net asset of £529,376 as of 31 December 2020.

One Year Chart

(Data Source: REFINITIV)

MHC shares were trading at GBX 4.10 and were down by close to 2.38% as of 04 June 2021 at 01:30 PM GMT. The 14-day RSI stood at ~40.40, while the 20-day simple moving average was around GBX 4.74. MHC’s 52-week Low and High were GBX 0.71 and GBX 7.45, respectively. The market capitalization of MHC is approximately £30.46 million.

Business Outlook

The Company had prioritized Covid-19 testing for generating revenues in 2021. The 'Fit to Fly' test for outbound travel and the Day 2/Day 8 tests for travel into the UK had gained success since the launch. Moreover, it had updated regarding the easy-to-use DNA tests, which would be launched soon. Also, it would be launching an expanded portfolio of at-home tests under the MyHealthChecked brand, which includes saliva swabs initially focusing on food sensitivities and intolerances.


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