Published on: April 5, 2016
Strong FY15 results
Instem has delivered a strong set of FY15 results. Revenues grew by 22% YoY, accompanied by a 43% improvement in EBITDA and a strong improvement in cash generation. The Provantis and ALPHADAS suites remain the key growth drivers, with the submit product also reporting solid commercial progress. We make no material changes to estimates, but believe the growth outlook to be increasingly bright.