Business
Half yearly report to 31 March 2020
Half yearly report to 31 March 2020.
About this update from Ixico Plc
[{"type":"text","content":"\n \n \n RNS Number : 4027N\n IXICO plc\n 20 May 2020\n \n \n \n \n IXICO plc\n \n \n (\"IXICO\", the \"Company\" or the \"Group\")\n \n \n \n \n \n Half yearly report to 31 March 2020\n \n \n \n \n \n 33% revenue growth, 15% EBITDA margin\n \n \n Strong cash balance of £6.7m \n \n \n £15.3m order book at 31 March 2020 strengthened further after the period end\n \n \n \n \n \n IXICO plc (AIM: IXI), the AI data analytics company delivering insights in neuroscience, announces its unaudited interim results for the six months ended 31 March 2020.\n \n \n \n \n \n IXICO's proprietary AI technology provides greater clarity to brain imaging and digital biomarker data and helps pharmaceutical and biotech clients to get more from their clinical development programmes for drugs targeting neurological and other rare diseases.\n \n \n \n \n \n Financial highlights\n \n \n \n \n \n · \n Reported revenues of £4.6 million; 33.0% growth on H1 2019 (2019: £3.4 million) \n \n \n · \n Strong gross margin at 66.5% (2019: 66.3%)\n \n \n · \n Growth in earnings before interest, taxation, depreciation and amortisation ('EBITDA') to £0.7 million (2019: £0.1 million)*\n \n \n · \n EBITDA margin at 14.8% (2019: 4.0%)\n \n \n · \n Cash position of £6.7 million as at 31 March 2020 (2019: £7.5 million)\n \n \n · \n Profit per share of 1.01p (2019: 0.46p)\n \n \n \n \n \n Commercial and operational highlights\n \n \n \n \n \n · \n Rapid extension of IXICO's remote business model and technology platform to enable all employees to be home-based in response to COVID-19 with no loss of service delivery; \n \n \n · \n Order book of £15.3 million at 31 March 2020, increased to over £22 million in April 2020 on signing contracts post-period end;\n \n \n · \n Existing projects across a range of Central Nervous System (CNS) indications provide a backlog of revenue-generating data analysis activity for the near term; \n \n \n · \n Appointment of US-based Chief Business Officer and expansion of commercial team to further build IXICO's presence in the key US biopharma market; and\n \n \n · \n Increasing deployment of AI for advanced data analytics driving operational leverage.\n \n \n \n \n \n Post-period end highlight\n \n \n \n \n \n · \n Substantial contract win in the therapeutic area of Huntington's ...