Business
Financial Results for the year ended 30 Sept 2022
Financial Results for the year ended 30 Sept 2022.
About this update from Ixico Plc
[{"type":"text","content":"\n \n \n 7 December 2022\n \n \n IXICO plc\n \n \n (\"IXICO\" or the \"Group\")\n \n \n \n \n \n \n Financial Results for year ended 30 September 2022\n \n \n \n \n \n \n \n Board succession planning & Notice of AGM\n \n \n \n \n \n \n \n \n IXICO plc (AIM: IXI), the AI data analytics company delivering insights in neuroscience,\n announces its results for the year ended 30 September 2022.\n \n \n \n \n \n \n Highlights:\n \n \n \n \n \n \n \n Financial:\n \n \n \n \n \n \n \n \n ·\n £8.6 million revenues (2021: £9.2 million) reflects existing and new client contracts partially offset by material client trial cessations (as first announced in March 2021);\n \n \n \n \n \n · \n Gross margin of 61% (2021: 66%) reflects an increased proportion of revenues relating to early phase trials;\n \n \n \n \n \n ·\n EBITDA1 of £1.5 million (2021: £1.7 million) reflects a fourth consecutive year of profitability and is in line with market expectations;\n \n \n \n \n \n · \n Closing cash of £5.8 million (2021: £6.7 million), incorporating operating cash2 inflows of £0.9m (2021: £0.3m) offset by long-term technology investments of £2.2 million (2021: £2.2 million); and\n \n \n \n \n \n ·\n Closing balance sheet (net assets) increased to £12.5 million (20213: £11.5 million) as the Group continues investing for the long term to address the growing neurological clinical trials market opportunity.\n \n \n \n \n \n Operational & Commercial:\n \n \n \n \n \n ·\n 2022-2027 5-year strategy 'Precision in Neuroscience' targeting further market penetration;\n \n \n \n \n \n ·\n HD-IH consortium agreement with CHDI, UniQure and PTC therapeutics applying IXICO's AI technology to create the world's leading data set on quantitative magnetic resonance imaging (MRI) in Huntington's disease;\n \n \n \n \n \n ·\n Release of IXIQ.Ai analysis platform, to support the requirement for improved predictive insights from MRI imaging biomarkers across neurodegenerative therapeutic indications;\n \n \n \n \n \n ·\n Closing order book of £16.0 million (2021: £18.8 million) future years' contracted revenues;\n \n \n \n \n \n ·\n £12.6 million of new client contracts in 2022, including 11 new projects, further diversifying the order book; and\n \n \n \n \n \n ...