There have been countless quarterly updates released on Monday. Some have been received well by investors, others less so.
Three that haven't gone down particularly well with investors are summarised below. Here's why these ASX All Ordinaries shares are falling:
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Alcidion Group Ltd (ASX: ALC)
The Alcidion share price is down 3% to 15.5 cents. This healthcare technology company's shares have come under pressure despite reporting strong sales figures during the second quarter. Alcidion reported new sales of $16.8 million, with $4.2 million to be recognised in FY 2023. This led to FY 2023 contracted revenue hitting $32.9 million, which is up 21% on the prior corresponding period. For the first half, Alcidion recorded cash receipts of $18.8 million, which is up 15% year over year.
Electro Optic Systems Holdings Ltd (ASX: EOS)
The EOS share price is down over 7% to 64 cents. This follows the release of the technology company's fourth quarter and full year update. Unfortunately, EOS revealed that some sales opportunities that were previously expected to be signed and commence delivering revenue in the second half of 2022 have been delayed by customers. And while receipts from customers came to almost $41 million, the company still posted an operating cash outflow of $13.9 million for the quarter. This left EOS with a cash and equivalents balance of $21.75 million.
Whispir Ltd (ASX: WSP)
The Whispir share price is down 5% to 48.5 cents. Investors have been selling this communications management systems provider's shares after it reported a 9% year over year decline in cash receipts to $14.84 million during the second quarter. Though, it is worth noting that the prior corresponding period included COVID-19 vaccine rollout related revenues. Whispir ended the period with total cash and equivalents of $9.5 million, which it estimates to be 1.7 quarters of funding.
