Business
Trading Statement
Trading Statement.
About this update from Dxs International Plc
[{"type":"text","content":"\n\n \n \n\n Trading Statement\n\nDXS INTERNATIONAL PLC (AQSE: DXSP) Trading Update – May 2023 DXS International plc (\"DXS\" or the \"Company\"), the digital clinical decision support company, is pleased to provide shareholders with a trading update. The company expects revenue for the year ending April 2023 to be £3.3 million, marginally up on April 2022, with a very small profit after tax. With the NHS largely inaccessible from a sales and marketing perspective, the company has during the past three years used this time to pilot new sophisticated SaaS solutions. Based on feedback from the various pilots, the company has enhanced the solutions, gained additional NHS IM1 accreditation, attained MHRA certification (required for software classed as medical devices) and planned the sales and marketing strategy for the financial year ahead. As the NHS recovery kicks in, the company has - as announced earlier today - raised £500,000 at a price of 4 pence per share through Hybridan LLP acting as sole broker, to be used mainly for immediate sales and marketing initiatives, and to continue to drive revenue growth and profitability. These initiatives will focus on: • Leveraging off our existing 2,000 GP practices user base. • Targeting new greenfield prospects with convertible free trial offers. These initiatives will build on our current two key solutions, one existing with new SMART referral ability and the other our new Hypertension solution. With both these solutions demonstrating powerful Return on Investment (ROI) to both healthcare clinicians and the NHS, these sales initiatives are underpinned by compelling and measurable ROI. In the next 11 months, we have the building blocks in place to potentially rapidly scale our annual revenue to £4.7m by April 2024, from £3.3m April 2023. We intend to achieve this via a combination of growing existing pharmaceutical income of £1.5 million by 8% p.a., and increasing our existing NHS revenue by 27% from £1.8m to £2.3m, of which we already have approximately 16% (which represents 60% of the increase) under discussion. We intend to supplement this with additional revenue from our new hypertension medicine optimisation product, adding approximately £130,000 of new revenue from SMART Pathways, and gene...