Hydrix (ASX:HYD) share price falling despite positive AGM update

The Hydrix Ltd (ASX: HYD) share price is trading lower despite a positive update at the company’s annual general meeting (AGM) this afternoon. Shares in the innovative small cap have dropped 3.57% to trade at 27 cents at the time of writing.

What was covered at the AGM?

Hydrix executive chair Gavin Coote told investors how the company’s strong product innovation has lead to an impressive year.

Driving the Hydrix share price was its 16% revenue growth, which was up to $15.7 million. This is turn lead to $1.2 million in operating profit.

Furthermore, the company retained a strong balance sheet with $9.5 million cash on hand.

This growth has seen the Hydrix share price trading 25% higher than at the same time last year, and…