AUCKLAND: Orion Health lifted its revenue by 26 percent in the first half of its 2016 financial year but also saw its net loss after tax grow to NZ$27 million.
Sales totalled NZ$102 million for the half year ended 30 September but as New Zealand-based Orion is rebuilding its technology as a cloud service, recurring revenue is a key metric. That increased from 30 percent to 41 percent of total revenue over the same period of 2015.
Annualised recurring revenue grew to NZ$86 million.
Orion’s net loss before tax was NZ$25 million, up from NZ$21 million in the same period last year as it continued to invest in research and development. Cash of NZ$77 million was down by NZ$18 million in the six months.
