IXICO plc Trading Update (7911Y)
May 10 2023 - 1:00AM
UK Regulatory
TIDMIXI
RNS Number : 7911Y
IXICO plc
10 May 2023
10 May 2023
IXICO plc
("IXICO" or the "Company")
Half-year Trading update
First six months of trading in line with expectations and
confirmation of 2023 market guidance
IXICO plc (AIM: IXI), the medical imaging advanced analytics
company delivering intelligent insights in neuroscience , today
provides a trading update ahead of its interim results for the six
months ended 31 March 2023.
Key metrics:
-- Revenues expected to be GBP3.2m for six months to 31 March
2023 (H1 2022: GBP3.9m);
-- Contracted order book of GBP13.3m as at 31 March 2023 (H1
2022: GBP12.6m);
-- Strong cash balance at 31 March 2023 of GBP5.0m (H1 2022:
GBP5.9m), debt free, and operating cash generative;
-- Loss before interest, tax, depreciation, and amortisation to
31 March 2023 expected to be GBP0.6m (H1 2022: GBP0.5m profit)
.
The Board reaffirms market guidance for the full year and return
to revenue growth in 2024. 2023 will be the final period to reflect
the negative impact of the large HD-trial cessations announced on
23 March 2021 and on 20 January 2022, with revenues now
increasingly driven by recently contracted trials across a broader
range of therapeutic areas.
IXICO continues to invest in creating a medical imaging company
with leading advanced AI analysis capabilities, delivered through a
next generation imaging platform designed to address the growing
demand for neuroimaging.
The Company's first half results will be released on 23 May
2023.
Giulio Cerroni, CEO of IXICO, said: "The re-building of our
order book is a priority as we look to benefit from investments we
are making in our commercial capabilities to support our pipeline
of opportunities and address the demand for our specialist AI
neuroimaging analytical services.
The combination of our diversified order book, near term
opportunities and a commitment to being at the forefront of AI
based imaging biomarker analysis, mean we are well placed to
deliver double digit revenue growth across the second half of
FY-2023 as compared to the first half, providing the foundation for
further growth across 2024 and beyond."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 (MAR).
For further information please contact:
IXICO plc +44 (0)20 3763 7499
Giulio Cerroni, Chief Executive
Officer
Grant Nash, Chief Financial Officer
Cenkos Securities PLC (Nominated adviser
and sole broker) +44 (0)20 7397 8900
Giles Balleny / Max Gould (Corporate
Finance)
Michael F Johnson / Tamar Cranford-Smith
(Sales)
About IXICO | Advanced Analytics | Intelligent Insights.
IXICO is dedicated to delivering insights in neuroscience to
help transform the advancement of investigational therapies for
neurological diseases, such as Huntington's, Parkinson's,
Alzheimer's disease and Multiple Sclerosis. The Company's purpose
is to advance medicine and human health by turning data into
clinically meaningful information, providing valuable new insights
in neuroscience by supporting pharmaceutical companies across all
phases of CNS clinical research. IXICO's goal is to be a leading
advocate of artificial intelligence in medical image analysis.
IXICO has developed and deployed breakthrough machine learning
Ai data analytics, at scale, through its remote access TrialTracker
technology platform, to improve the return on investment in drug
development and reduce risk and uncertainty in clinical trials for
the Company's pharmaceutical clients.
More information is available on www.IXICO.com and follow us on
Twitter @IXICOnews
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END
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