Business
Half year report
Half year report.
About this update from Ixico Plc
[{"type":"text","content":"\n\n \n23 May 2023\nIXICO plc\n \n(\"IXICO\", the \"Company\" or the \"Group\")\n \nHalf yearly report to 31 March 2023\n \nIXICO plc (AIM: IXI), the medical imaging advanced analytics company delivering intelligent insights in neuroscience, announces its unaudited interim results for the six months ended 31 March 2023.\n \nCommercial and operational highlights\n \n· Client contracts worth £2.8m signed during the period;\n· Order book of £13.3 million at 31 March 2023 (H1 2022: £12.6m) following the signing of contracts totalling £11.6m across the last twelve months;\n· Expansion of core imaging (MRI, PET and SPECT) services to provide an extended offering to address clinical trial opportunities in Alzheimer's Disease (AD), Multiple Sclerosis (MS) and Parkinson's Disease (PD); and\n· £1.0m additional funding secured for the IXICO-led HD-IH Consortium which is now committed to the analysis of over 6,000 Huntington's disease MRI data sets utilising IXICO's proprietary IXIQ.Ai analysis platform.\n \nFinancial highlights\n \n· Revenues of £3.2 million for the six months to 31 March 2023 (H1 2022: £3.9m);\n· Gross margin at 46.1% (H1 2022: 59.8%);\n· Loss before interest, taxation, depreciation and amortisation ('EBITDA') of £0.6m (H1 2022: £0.5m profit);\n· £5.0 million cash as at 31 March 2023 (H1 2022: £5.8m);\n· £0.2m operational cash inflow (H1 2022: £0.2m);\n· Net assets of £11.9m (H1 2022: £11.8m); and\n· Loss per share of 1.50p (H1 2022: 0.35p profit).\n \nGiulio Cerroni, CEO of IXICO, commented:\n \n\"We complete the first six months of the year on track to achieve our full year guidance of £7.0m revenues for the year. We expect the combination of our diversified order book and near-term opportunities to deliver revenue growth in the second half of this financial year, relative to the first half, and return the Company to year-on-year revenue growth in 2024.\n \nFollowing a multi-year programme of ongoing investment in our IT infra...