Business
Trading Update and FY2023 Guidance
Trading Update and FY2023 Guidance.
About this update from Ixico Plc
[{"type":"text","content":"\n \n \n \n 1 September 2022\n \n \n \n \n \n \n IXICO plc\n \n \n (\"IXICO\" or the \"Company\")\n \n \n \n \n \n \n \n Trading Update and FY2023 Guidance\n \n \n \n \n \n IXICO plc (AIM: IXI),\n the medical imaging advanced analytics company delivering intelligent insights in neuroscience\n , today provides a trading update.\n \n \n \n \n \n The Company confirms that trading for the second half of its financial year has been strong and now expects that EBITDA profits for the year ended 30 September 2022 will comfortably exceed previous guidance of £1.2 million stated in the trading update of 24 May 2022. Revenues for the year ended 30 September 2022 are broadly in line with market expectations with circa £0.2m revenues expected to move from 2022 into 2023 due to the timing of client trials.\n \n \n \n \n \n Since its half year at 31 March 2022, the Company has signed contracts worth circa £7.5 million as the Company continues to build up and further diversify its order book, which it expects to be in excess of £15 million at the year end. \n \n \n \n \n \n Following these recent contract wins, the Company provides guidance for its 2023 financial year of revenues of approximately £7 million, of which over £5 million is already contracted. This guidance reflects the impact of the previously announced client trial cessations which, as was noted in the Company's update of 24 May 2022, negatively affected its contracted orderbook for 2023.\n \n \n \n \n \n Following strong progress that the Company has made in diversifying its order book, it anticipates running at least twenty-five projects across more than fifteen clients during 2023, with its largest client trial representing under 15% of its projected 2023 revenues. This order book diversification places the Company in an increasingly strong position to return to growth in the medium and long term.\n \n \n \n \n \n The Company will leverage its strong balance sheet and debt free, cash position, to deliver its strategic investment plans alongside a continued careful management of expenditure.\n \n \n \n \n \n \n Giulio Cerroni, CEO of IXICO, said:\n \n \"We continue to diversify our client base and prioritise commercial and investment strategies that position the Company for future growth. 2023 will see ...