Humans love data. We like numbers and patterns and trends, almost as much as DorsaVi (ASX: DVL), a company creating wearable movement sensors to deliver relevant and usable data.
The Company touts its movement and muscle sensors and associated software as a way for companies, clinics and athletes to measure and interpret motion data, screen for and assess injury risk, track progress and results, and create optimal rehabilitation and exercise plans.
The Company has adapted their product for different use cases under three main pillars. ViSafe is designed particularly for workplace use to reduce workplace injuries and improve safety, ViMove is designed for use in healthcare and physiotherapy settings to improve patient outcomes, and finally, ViPerform which is used for tracking and increasing athlete performance.
DorsaVi is also very active in the research space, having been used in multiple published studies.
With a solid foundation, the Company is working on improving their existing tech. Beta testing is currently being carried out on the Athletic Movement Index (AMI) which is linked to their athletic tracking devices.
The new AMI product will offer faster assessment time and be more customisable, offering clinics and trainers access to quick, accurate data for use across a larger patient or athlete population. The sensitive detection of movement issues and deficits will give clinicians a highly valuable tool to aid in detection, and clinical decisions around treatment and prevention.
Aside from improvements to the tech and software itself, the new product will be available for use on multiple platforms including iOS, Windows and Android, increasing the Company’s addressable market.
The new beta version of the tech has been released to five existing clients who will provide DorsaVi with feedback prior to full commercial release at the end of June 2022.
“It has been an eventful and exciting few months for DorsaVi,” said CEO, Dr Andew Ronchi. “I am very proud of our continued commitment to product development, cumulating in the release of a new version of our best-selling AMI product. The new AMI product benefits from several enhancements made directly in line with feedback from our customers and strategic partners. The new AMI product will benefit from platform upgrades, including ISO 27001 compliance, while improving accessibility through a simplified movement test process and multiple customisation options for patients of different physical abilities. Sensor hardware has been optimised to reduce the cost of production while maintaining our market leading precision, providing flexibility to explore more attractive payment models for our customers while increasing margin. With beta testing currently underway and full commercial release scheduled for 28 June 2022, I am excited about best-in-class product suite and growth prospects for FY23 and beyond.”
The product improvements are expected to add another dimension to the tech, driving sales and generating higher revenue as more customers come on board. These will be showcased during the planned launch campaign DorsaVi have planned.
For the March quarter DorsaVi reported a 33% increase in sales revenue of $600k and held a cash balance of $1.4m.
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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