REG - Cambridge Cognition - Trading Update and Notice of Results

Cambridge Cognition HoldingsAnnouncement

21/07/2022 07:00

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RNS Number : 2125T  Cambridge Cognition Holdings PLC  21 July 2022

21 July 2022

 

Cambridge Cognition Holdings Plc

("Cambridge Cognition", the "Company" or the "Group")

 

Trading Update and Notice of Results

 

Continued strong growth and outlook with revenue increased by 31% on prior
year

 

Cambridge Cognition Holdings Plc (AIM: COG), which develops and markets
digital solutions to assess brain health, is pleased to announce strong growth
for the six months ended 30 June 2022.

 

The unaudited financial highlights for the six months ended 30 June 2022 are:

 

·          Increase in like-for-like sales orders of 44% to £7.2
million (H1 2021: £8.6 million including £3.6 million of one-off orders)

·          Growth in revenue of 31% to £5.9 million (H1 2021: £4.5
million)

·          Increase in contracted order book of £1.5m million since
the last year end to £18.6 million (31 December 2021: £17.1 million)

·          Profit after tax in line with expectations at £0.02
million (H1 2021: £0.1 million)

·          Continued growth in cash balances at 30 June 2022 to
£8.6 million (31 December 2021: £6.8 million)

 

The Company followed up its strong performance in 2021 with a considerable
growth in revenues to £5.9 million in the first half of 2022, which is up 31%
on H1 2021 (H1 2021: £4.5 million).  Order intake was in line with the
Board's expectations at £7.2 million, up 44% on a like-for-like basis on H1
2021 (H1 2021: £8.6 million including £3.6 million of one-off orders) and
the Company has a healthy and growing qualified pipeline of opportunities for
the second half of 2022.

 

The contracted order book was £18.6 million at 30 June 2022, an increase of
£1.5 million since the start of the year.  The order book provides the
Company with visibility over future revenues and provides a solid foundation
from which the Company can continue with its plans to invest in product and
commercial development to further expand the business.

 

Trading conditions continue to be positive and the Company has high levels of
engagement with existing and potential new clients.  With continued
investment in commercial activities and product development, the Company
expects to achieve further year-on-year revenue growth.  The cash position
continues to grow to £8.6 million at 30 June 2022 and provides the business
with the platform to make considered investments as opportunities arise.

 

Notice of Results

 

The interim results for the six months ended 30 June 2022 will be announced on
20 September 2022.

 

The Company will conduct a live presentation and Q&A session for investors
on the same day at 5:30 pm BST. The presentation is open to all existing and
potential shareholders.  Those wishing to attend should email
cog@investor-focus.co.uk (mailto:cog@investor-focus.co.uk) and they will be
provided with log in details.  There will be the opportunity for participants
to ask questions at the end of the presentation.  Questions can also be
emailed to the above address ahead of the presentation.

 

The information contained within this announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018.  Upon the publication of this
announcement via the Regulatory Information Service, this inside information
is now considered to be in the public domain.

 

For further information, please contact:

 

 Cambridge Cognition Holdings Plc            Tel: 01223 810 700
 Matthew Stork, Chief Executive Officer      press@camcog.com
 Stephen Symonds, Chief Financial Officer

 Panmure Gordon (UK) Ltd

 (NOMAD and Joint Broker)                    Tel: 020 78862500
 Freddy Crossley / Emma Earl / Mark Rodgers  (Corporate Advisory)
 Rupert Dearden                              (Corporate Broking)

 Dowgate Capital Limited (Joint Broker)      Tel: 020 3903 7715
 David Poutney / James Serjeant

 IFC Advisory Ltd (Financial PR and IR)      Tel: 020 3934 6630
 Tim Metcalfe / Graham Herring / Zach Cohen  cog@investor-focus.co.uk

 

Notes to Editors

 

About Cambridge Cognition

 

Cambridge Cognition is a technology company developing digital health products
to better understand, detect and treat conditions affecting brain health. The
Company's software products assess cognitive health in patients worldwide to
improve clinical trial outcomes, identify and stratify patients early and
improve global efficiency in pharmaceutical and healthcare industries.

 

For further information visit www.cambridgecognition.com
(http://www.cambridgecognition.com/)

 

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