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Micro X (ASX:MX1) - CEO, Peter Rowland
CEO, Peter Rowland
Source: SBS
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  • Australian hi-tech company Micro-X (MX1) has seen strong demand for its mobile x-ray, Nano, due to COVID-19
  • In April, $500,000 worth of Nano units from existing purchase orders were completed and shipped to end customers
  • Currently, a further $1.5 million worth of Nano units are at different stages of production, with some of these units almost complete
  • There’s been a ramp-up in production after the company completed a $15 million offer to meet demand from COVID-19
  • Micro-X remains in the grey on the market today, selling shares for 14 cents each

Australian hi-tech company Micro-X (MX1) has seen strong demand for its mobile x-ray, Nano, due to COVID-19.

In April, $500,000 worth of Nano units from existing purchase orders were completed and shipped to the end customers. Currently, a further $1.5 million worth of Nano units, at different stages of production, with $500,000 of these are nearly completed.

There’s been a ramp-up in production after the company completed a $15 million offer to meet demand from COVID-19.

This ramp-up includes $600,000 for capital equipment, which has now been largely ordered and is expected for delivery in this current quarter.

Since January 2020, $1.7 million worth of Nano’s has been built, shipped and invoiced.

Nano Machines in production. Sourced from Micro-X.

Managing Director Peter Rowland said Micro-X has been working very hard on the placement that was completed two weeks ago.

“I am pleased to report that we’ve been successful in ramping Nano production with the rate of units being built and shipped increasing rapidly,” he said.

“We have worked through some supply chain challenges due to recent global trade disruption and above all else, our priority is to reduce our backlog of existing orders and therefore the delivery times for future orders,” Peter added.

Micro-X remains in the grey on the market today, selling shares for 14 cents each at 12:33 pm AEST.

MX1 by the numbers
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