Wound healing products company Aroa Biosurgery (ARX: $0.86) continues to deliver consistent and strong top-line growth. Cash receipts in the June quarter were NZ$13.9 million (up 162% over the PCP). Net cash outflow was NZ$1.3 million from operations and investment in equipment, down from NZ$3.7 million in the PCP and down from NZ$6.5 million in the previous quarter.
The strong performance in the June quarter included a large shipment of product to the company's distributor, TelaBio, in the March quarter. The company is maintaining its revenue guidance of NZ$51 - NZ$55 million for this financial year (which ends 31 March 2023).