Volpara Health Technologies (ASX:VHT) has announced the completion of the strategic review undertaken by CEO Teri Thomas and the executive management team.
The company said it will focus on accelerating the pathway to net operating cash flow break-even and profitability which is expected in late 2024.
The strategic process included a company-wide review of operations, partnerships, sales, marketing, the product portfolio, and cost-saving opportunities.
The company said it will now focus on the investment and allocation of resources into its core capabilities, the concentration of sales efforts in its high-revenue markets (US and Australia), business development opportunities, reducing customer acquisition costs, improved customer support infrastructure and operational cost reductions.
CEO Teri Thomas said, “Volpara has the most research-validated technology in the industry, a great reputation, rich data for ongoing development, and the expertise to execute on new innovation. This time focusing our expertise in both the products and geographical areas that provide maximum value to shareholders will position us well for growth as a profitable company within the foreseeable future.”