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Imdex Ltd posts strong FY21 result leveraging R&D Investment

Imdex Limited (ASX: IMD) is a WA-based company providing technology and equipment for the mining industry. The company offers a range of products and services, including:

• Drilling optimisation products;
• Rock knowledge sensors;
• Real time data and analytics solutions;

Imdex Limited’s FY21 results were well received by the ASX, and concludes a year in which the company’s share price has almost doubled.

An emphasis within the company’s results presentation released in August was the company’s R&D investment during the FY21 period. The results highlighted that:

• Imdex Limited has a strategy of continuing investment in R&D activity across all market conditions;
• R&D spend is targeted to certain areas based on demand at the time;
• The company has increased the % of revenue invested in R&D over the past 4 years, despite revenue also having grown substantially;
• New technologies have provided greater value, and generated 3 to 5 times more revenue per sensor.

The company has also highlighted that in the coming year, R&D investment into connected sensors and software solutions will be increased to accelerate growth and build scale.