Business
Financial Results for the year ended 30 Sept 2021
Financial Results for the year ended 30 Sept 2021.
About this update from Ixico Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7524U\n IXICO plc\n 07 December 2021\n \n \n \n \n IXICO plc\n \n \n (\"IXICO\", \"the Company\" or \"the Group\")\n \n \n \n \n \n Financial Results for the year ended 30 September 2021\n \n \n Notice of AGM\n \n \n \n \n \n >30% profitability growth despite a challenging business year \n \n \n Strong cash position and enhanced balance sheet \n \n \n \n \n \n IXICO plc (AIM: IXI), the AI data analytics company delivering insights in neuroscience, announces its results for the year ended 30 September 2021, delivering a year of significant growth in profitability despite notable headwinds to trading.\n \n \n \n \n \n Highlights\n \n \n \n \n \n Financial\n \n \n · \n EBITDA* of £1.7 million; 34% increase on prior year (2020: £1.3 million) reflecting solid revenue performance in a challenging trading environment, careful management of discretionary costs and positive one-time impacts;\n \n \n · \n £9.2 million of revenues (2020: £9.5 million); despite full year of COVID-19 and revenue being adversely impacted by largest client's decision to descope its Huntington's disease (HD) Phase III trials;\n \n \n · \n Gross margin of 65.6% (2020: 66.6%) reflects sustained strong margin achievement.\n \n \n · \n Operating profit of £1.2 million (2020: £0.9 million);\n \n \n · \n Profit per share of 3.30 pence (2020: 2.02 pence);\n \n \n · \n Closing cash of £6.7 million (2020: £7.9 million), incorporating long-term technology investments of £2.2 million (2020: £1.1 million);\n \n \n · \n Contracted order book of £18.8 million (2020: £21.7 million) net of £7.1 million descope of Phase III HD trials in the year; and\n \n \n · \n Net assets increase to £11.2 million (2020: £9.1 million) reflecting strengthened working capital and capitalised investments.\n \n \n \n \n \n *Earnings before interest, tax, depreciation, and amortisation\n \n \n \n \n \n Commercial and Operational\n \n \n · \n 16 new projects won across 14 clients, 9 of whom are new to IXICO;\n \n \n · \n Equates to £13.8 million of additional multi-year contracts across all phases of clinical development thereby substantially replenishing the contracted order book;\n \n \n · \n Further strengthened our partnership with the Global Alzheimer's Platform ('GAP') in their Bio-Hermes program. Sponsors of th...