REG - Feedback PLC - Half-year Report
07/02/2023 07:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230207:nRSG0868Pa&default-theme=true
RNS Number : 0868P Feedback PLC 07 February 2023
Feedback plc
Interim Results for the six months ended 30 November 2022
Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the specialist clinical
communication company, announces its unaudited results for the six months to
30 November 2022 (the "Period").
Operational Highlights
· Awarded £450k contract for a 12-month pilot extension of the
Sussex Integrated Care Systems ("ICS") Community Diagnostic Centre ("CDC")
development programme
· Named as a supplier on G-Cloud 13, the UK Government's digital
marketplace
· Creation of the CareLocker consumer app, giving patients direct
access to their clinical data
· First CareLocker deployment with an Indian imaging centre,
Sampurna Diagnostics, Indore
· Completion of 200: 1 share consolidation
Financial Highlights
· 222% increase in revenue to £576k (H1 2022: £179k);
Bleepa-CareLocker accounted for 73%
· 149% increase in sales((1)) to £612k (H1 2022: £246k);
Bleepa-CareLocker accounted for 77%
· Adjusted EBITDA loss((2)) increased to £1,197k (H1 2022:
£1,007k), reflecting expansion and scaling of the Bleepa-CareLocker platform
· Cash as at 30 November 2022 of £9,228k (31 May 2022: £10,306k)
Analyst Briefing, 11:00 a.m. Today
A briefing for Analysts will be held at 11:00 a.m. this morning. Analysts
interested in attending should contact Walbrook PR by emailing
feedbackplc@walbrookpr.com (mailto:feedbackplc@walbrookpr.com) or by calling
020 7933 8780.
Retail Investor Briefing, 4.00 p.m. Today
Management will be providing a presentation and hosting an Investor Q&A
session on the results and future prospects today at 4:00 p.m., through the
digital platform Investor Meet Company. Investors can sign up for free and add
to attend the presentation via the following link:
https://www.investormeetcompany.com/feedback-
(https://www.investormeetcompany.com/feedback-) plc/register-investor
Questions can be submitted prior to the event and at any time during the live
presentation via the Investor Meet Company Platform.
Dr Tom Oakley, CEO of Feedback, said: "The continued momentum during the
period, and in particular the contract extension for Sussex ICS ("Sussex"),
together with constructive ongoing discussions with other CDCs and parties,
underpins management's confidence in delivering increased revenues and further
growing our customer base.
"Our products and clinical care delivery solutions are focused on growth
markets domestically and internationally, which we believe are underpinned by
increased requirements and demand for secure and regulated access to patient
data - focused on reducing waiting lists and providing integrated systems that
can easily be implemented in a variety of settings.
"We are delighted with the progress made during the period and we are focused
on further harnessing our knowledge and knowhow to provide value add solutions
for our customers, both within hospital and remote environments. We remain
extremely excited by our growth prospects and continue to target a number of
opportunities. Importantly, we have numerous routes to market and increasing
levels of visibility and look forward to providing the market with further
updates in due course."
Further information on Feedback and its products can be found on the Company's
website: https://fbkmed.com/feedback-plc/reports-and-presentations/
(https://fbkmed.com/feedback-plc/reports-and-presentations/)
Note (1): "Sales" is a non-IFRS metric representing the total value of
invoices raised in a period. The figure does not take account of accrued or
deferred income adjustments that are required to comply with accounting
standards for revenue recognition across the life of a customer contract
(typically 12 months).
Note (2): "Adjusted EBITDA Loss" is a non-IFRS metric being EBITDA less
share-based payment charges.
-Ends-
Enquiries:
Feedback plc +44 (0) 20 3997 7634
Tom Oakley, CEO IR@fbk.com (mailto:IR@fbk.com)
Anesh Patel, CFO
Panmure Gordon (UK) Limited (NOMAD and Broker) +44 (0)20 7886 2500
Emma Earl/Freddy Crossley (Corporate Finance)
Rupert Dearden (Corporate Broking)
Walbrook PR Ltd Tel: 020 7933 8780 or feedbackplc@walbrookpr.com
(mailto:feedbackplc@walbrookpr.com)
Nick Rome/Joe Walker 07748 325 236 or 07407 020 470
About Feedback
Feedback plc helps clinical teams to make better decisions faster for
patients. We design products that enhance clinician access to patient data and
to their colleagues. Our unique approach centers around individual patient
episodes, into which we pull relevant clinical data from hospital systems and
around which we build remote clinical teams for collaboration. As a result, we
produce a digital infrastructure that makes patient data available to
clinicians in multiple settings, in a format that enables them to meaningfully
interact with it, providing flexibility to clinicians and free movement of
patients between provider settings - clinicians can practice from anywhere and
patients can attend any care provider for treatment.
Our products Bleepa and CareLocker work together to deliver unparalleled value
to our customers. Bleepa is our application layer and sits on top of
CareLocker as our data layer. Bleepa is a clinician facing platform that
displays clinical results from a patient's CareLocker at a certified and
regulated quality, that is suitable for clinical use and enables dialogue on a
patient-by-patient basis with colleagues through a secure, auditable chat
interface that links back to the patient medical record. The CareLocker data
storage model is built around the patient. Our vision is one where relevant
clinical data is always available to the patient as well as to any care
setting that they may attend - a federated data architecture with the patient
as the tenant.
The Company has a number of growth opportunities domestically and
internationally across a range of markets including the NHS, the veterinary
market and private healthcare providers and its highly scalable Software as a
Service ("SaaS")-based revenue model is expected to provide increasing levels
of visibility as the Company grows its customer base.
Feedback plc
Chairman and Chief Executive's Statement
This was another busy period for the Company demonstrated by strong revenue
growth with the Sussex contract extension accounting for the significant step
up in comparative performance. Importantly this contract extension highlights
the potential to establish symptom-based pathway models for Community
Diagnostic Centre ("CDC") services using the Company's digital infrastructure
solutions Bleepa and CareLocker. The performance during the Period reflected
the increasing proportion of Bleepa-CareLocker revenues as we further
developed our proposition and moved away from low-margin legacy PACS
contracts.
The Company's performance during the Period also reflects continued investment
in sales and marketing resource alongside targeted product development linked
to sales opportunities. Key development has focused on progressing the
cross-provider pathway capabilities required for the CDC deployment in Sussex.
This is with a view to creating feature capabilities that will broaden the
appeal of the technology to other customers and enable the technology to scale
to other NHS CDC sites as we open up this market opportunity.
With further national funding now committed to the CDC programme, and the UK
government making the NHS backlog reduction a key election pledge, the Board
believes that the Company is well positioned to capture a number of NHS
opportunities in the near term. Our unique product capabilities, refined in
collaboration with our NHS customers and supported by our regulatory
accreditations, give Feedback a leading position to address the needs of the
CDC space. In partnership with the Queen Victoria Hospital NHS Foundation
Trust ("QVH"), we have shown the NHS a new way of working by implementing
symptom-based care pathways and asynchronous multidisciplinary team meetings
(MDTs) which hold real potential to enable the NHS to use the new CDCs to
meaningfully reduce the growing NHS care backlog.
The Company also further developed opportunities in India, building the number
of patients going through our Tuberculosis ("TB") screening programme in
Odisha and opening a new business line for CareLocker, a consumer app, with a
pilot at Sampurna Sodani Diagnostic Clinic ("Sampurna") in Indore aimed at
replacing film or CD use with direct digital access to images for patients.
This is anticipated to reduce the imaging centre's costs whilst at the same
time improving the experience of patients. The Company is evaluating various
pricing models with Sampurna's patients and expects to generate CareLocker
sales via Sampurna in the near term, which are initially expected to be
modest. If rolled out to more centres and larger cities, there is significant
potential to scale in this market.
The Company is already engaging with several other imaging centres to adopt
the CareLocker consumer app product offering for their customers, pending the
pilot results in Sampurna. We commenced the incorporation of an Indian
subsidiary company during the Period as a vehicle to capitalise on the
opportunity presented by the Indian market, hold local tax and medical device
registrations, and to facilitate direct payment collections from consumers via
e-payment mechanisms, streamlining geofencing and banking requirements set out
in Indian regulations. The Company will build in-country resources through the
subsidiary as appropriate to pursue our opportunity in this market. The
subsidiary, Feedback Medical India Private Limited, is due to be fully
incorporated and operational in H2 of this financial year.
During the Period the Company also opted to undertake a 200:1 share
consolidation with a view to positively impacting the liquidity and trading
activity in the Company's shares and improving its marketability to a wider
investor group.
Business Strategy
Focus on Commercialisation
Bleepa-CareLocker is now the largest contributor to total revenue, presenting
growing commercialisation opportunities as we expand our target market to
address cross-provider areas such as CDCs, in addition to maintaining our
traditional inpatient deployments. As outlined previously, cross-provider
opportunities are of considerably higher value and offer the potential to
on-sell services into individual NHS Trusts that are users of the technology
in the cross-provider setting. Bleepa-CareLocker is currently deployed at one
CDC site we are seeing significant interest in this flagship use case and
opportunities are emerging as more NHS funding comes online for CDC
deployments. Our expansion into India has allowed us to create a direct B2C
market opportunity for CareLocker, which had previously been a supporting
cloud infrastructure to Bleepa, now reimagined as a direct patient facing
application giving customers direct access to their imaging and results data
in a digital format. Redirecting internal resource away from legacy products
towards the high margin growth opportunities represented by Bleepa and
CareLocker is essential to delivering greater value for shareholders and
underpins the Company's strategy to move into larger addressable market
opportunities.
Secure Data Capture and Transfer
Bleepa's patient-centric design enables clinicians to collaborate on a
patient-by-patient basis across geography, with the clinical discussion
forming an auditable record for the patient episode that is subsequently
shared with all stakeholders. CareLocker's ability to integrate with multiple
clinical systems and centralise data around an individual patient means that
all the diagnostic results can be seen in one place across all provider
groups, ensuring that relevant data can be collected from multiple clinical
settings, travels with the patient and is always available to clinicians. In
combination this digital infrastructure has the potential to release care
delivery from the traditional geographic and provider confines with clinicians
being able to contribute to cases from any location, at any time and enabling
patients to flexibly choose and change their care provider knowing that their
data will transfer with them. At a time when healthcare systems globally are
looking at how they can leverage specialist staff more effectively, whilst
simultaneously awarding them the same working flexibility that others have
enjoyed in the post-pandemic era of remote working, our solutions have never
been more essential.
Growing UK Opportunity
The Sussex pilot contract represents the first live symptom-based CDC care
pathway in the UK and is a blueprint for how diagnostic data generated by the
CDCs should be integrated into clinical care to drive patient and system
outcomes, including a reduction in the elective care backlog. Initial data has
been encouraging with an average pathway time well below the national six week
wait target for primary diagnostic investigation, and a significant reduction
in outpatient waits depending on specialty. Such outcomes, if scaled
nationally, will have a dramatic impact on the NHS and in turn the Company.
With over 160 CDC sites to be implemented nationally this represents a
large-scale opportunity, backed by national funding and political necessity.
The Company is pursuing both direct and partnership approaches to ensure that
we maximise our chance to capture this national opportunity.
Increasing Visibility in India
The deployment of Bleepa and BleepaBox as part of the TB screening programme
in Odisha, in partnership with Amazon Web Services (AWS) and Qure.ai, has
enabled the company to generate real-world data on the effectiveness and
impact of our technology in facilitating remote diagnosis. Although generated
in relation to TB the implication is that this infrastructure could be used
for any remote diagnostic or care requirement, potentially opening
opportunities in the government, NGO and military spaces. We do not intend to
conduct further pilots of the technology within TB as we believe we now have
sufficient evidence to enable us to engage with channel partners and to
directly pursue contracts with potential customers. Given the scale and nature
of rural deployments it is likely that these partnership and customer
conversations may take some time to mature but we are now confident of the
benefit that the system can deliver with the evidence to support this.
In the interim, we have been able to leverage the TB screening pilot to
generate interest in our broader technology from imaging centres that directly
serve patients in urban settings. It is our ability to process patient level
imaging data, rather than our ability to transmit these across 3G networks,
that turned out to be of interest to this customer group, who see the ability
to provide digital access to their patients as a competitive advantage and a
way of reducing the costs associated with the production of physical film
copies, or CDs, as the traditional vehicle of providing patients with access
to their images and reports. During the Period we established a live pilot
with Sampurna, an imaging centre in Indore. Sampurna were an early adopter and
worked with us to hone the value proposition and adapt the technology to the
needs of the imaging centre, which included developing a patient facing
interface to CareLocker, something that is likely to have further applications
in other markets, including the UK. CareLocker will be advertised by the
imaging centre to their customers as an additionally purchasable premium
product. The imaging centre saves on the cost of generating a CD or film print
for every patient that purchases a CareLocker account and benefits from the
reputational benefits of being an early adopter of a digital first approach,
potentially allowing the imaging centre to attract more customers.
The Sampurna pilot demonstrates the willingness of customers to purchase the
product and we are in the process of establishing a subsidiary company to
facilitate direct electronic payment collection from customers, a process
which is tightly geofenced and which is better delivered locally than
internationally, instead of relying on the imaging centres to collect payments
on our behalf. This is a volume-dependent opportunity with over 40 imaging
centres in Indore alone serving a population of some 3.3m patients, an
opportunity that scales to larger cities such as Dehli and Mumbai with a
population over 10x the size. As such, we are seeking to establish new
partnerships with imaging centres across Indore and within other major urban
centres.
Strong and Growing Portfolio
As the Company continues to develop Bleepa and CareLocker we have successfully
retained the numerous regulatory and quality certifications that differentiate
us within the market, most notably our ISO 13485, ISO 27001, Cyber Essentials
Plus, and DCB 0129 accreditations that support our UKCA certification for
Bleepa as a software as medical device product.
Following the finalisation of our Indian subsidiary setup the Company will
start the process of registering Bleepa as a medical device in India, allowing
us to directly market Bleepa to hospitals within India for clinical use. It is
preferential to use a wholly-owned subsidiary as a local manufacturer in this
regard, instead of importing Bleepa through a third-party wholesaler, due to
the risks that sharing technical file information would hold for our IP in
India. Therefore the Board has elected to reserve medical device registration
until the subsidiary is operational. We expect the medical device registration
process to take approximately 6-9 months, during which time we will focus on
the commercialisation of the CareLocker consumer app, which does not require
medical device certification in India, and our CDC NHS opportunities in the
UK.
In the UK the Company has leveraged our regulatory certifications to
successfully list our products on the prestigious UK G-Cloud public
procurement framework which provides an assured framework for NHS procurement
and allows potential customers to directly award contracts to the company
without the need for more localised competitive procurement tenders. Whilst we
expect the majority of NHS opportunities to continue coming via the
competitive tender route this does represent a route to streamline market
access and should accelerate the adoption of our CDC solution in particular.
Although not directly linked to our regulatory certifications, the features
developed during the period for Bleepa, in collaboration with QVH, such as
workflow management and clinical labels, stand to further differentiate us
from competitors who offer simple chat-based tools without the medical imaging
and results display capabilities that are already available within Bleepa. The
collaborative clinical refinement of our products at our customer sites
ensures that we maximise our product market fit and will offer an unparalleled
value proposition to both our existing and future customers.
Financial Review
Revenue in the six months ended 30 November 2022 increased 222% to £576k (H1
2022: £179k), reflecting the significant increase in average contract value
for Bleepa-CareLocker compared to legacy products, with Bleepa-CareLocker
comprising 73% of revenue. In addition, H1 2023 revenue was positively
impacted by the 12-month extension of the Sussex CDC pilot, a £450k contract
awarded in September 2022 but covering the 12-month period from 31 March 2022,
resulting in £188k of revenue being recognised related to the 5-month period
prior to contract signing.
Sales, a non IFRS measure representing the total customer contract value
invoiced in the period, increased 149% to £612k (H1 2022: £246k), of which
Bleepa-CareLocker contributed 77% and Image Engineering license fees
contributed 11%, more than offsetting declining legacy product sales.
Bleepa-CareLocker products are sold on an annual license fee basis therefore
benefitting from higher lifetime contract value and gross margin versus legacy
products with one-off license fees plus minimal support fees thereafter.
Gross margin increased to 94% (H1 2022: 67%) partly due to the benefit of
£188k revenue being recognised for the Sussex CDC pilot relating to the
5-month period prior to contract signing. In addition, gross margin in the
prior period was impacted by one-off BleepaBox hardware costs for a veterinary
customer contract typically incurred in the first year of a customer contract
only.
Operating expenses increased 59% to £2,161k (H1 2022: £1,357k) due to
headcount expansion, increased amortisation charges for capitalised software
development, and general cost inflation. Operating loss increased 31% to
£1,622k (H1 2022: £1,238k). Excluding depreciation and amortisation of
£396k (H1 2022: £205k) and share-based payment charges of £29k (H1 2022:
£24k), Adjusted EBITDA loss increased 19% to £1,197k (H1 2022: £1,009k).
The Group capitalised a further £601k (H1 2022: £599k) in software
development and IP related to product enhancements and new features based on
customer demand, including development of the CareLocker consumer app for the
Indian consumer market.
The Group's cash position as at 30 November 2022 was strong at £9,228k (30
November 2021: £11,423k, 31 May 2022: £10,306k), providing the Company with
the capital required to deliver its growth projects in the UK and
internationally.
Outlook
These results demonstrate the continued upward trajectory of the Company as it
pursues its strategy of delivering cutting edge technology to frontline
clinicians across healthcare settings and is the result of the strategic pivot
undertaken in the later part of 2019.
As we look to the near term in Q3-Q4 of this financial year, the Company's
focus shall predominantly be on the NHS and pursuing opportunities in the
emerging CDC space, where we see a growing amount of government investment and
substantial clinical need for our technologies. The CDC opportunity alone is
sizeable enough to give the Company a path to profitability, should we be able
to successfully convert 20-30% of the potential regional NHS CDC customers,
being Integrated Care Systems ("ICSs"). We have already invested in an
increased sales function to pursue CDC opportunities and are utilising
external lead generation companies to ensure that we capture any opportunities
arising around the NHS financial year end, the period where historically we
see the greatest number of transactions and customers coming to the market.
Regional CDC contracts with ICSs represent the clearest route to
profitability. The Board views this as a priority and is confident about the
opportunity. However, as this is an early and evolving market with a degree of
unpredictability around timescales and government funding, the Company is
pragmatically focused on exploring other potential customer bases,
diversifying and increasing the number of routes to profitability - with
continued parallel focus on strategic deployments in India.
The opportunities in India are far larger than those in the UK due to the
sheer scale involved; however they are a mid-long term strategic goal as we
incorporate a local entity, obtain in-country registration as a medical device
manufacturer and expand to fulfil an opportunity of this magnitude. For these
reasons we have not sought to expand our pilot base, beyond the current
deployments necessary to stimulate market interest, and will not commit
further resources until we have clear sight of revenues.
Given the resources available to the Company we are well advised to stagger
these opportunities slightly to ensure that we capture both the NHS and India
markets. The Company will ensure that it is appropriately resourced to deliver
but will link resourcing directly to qualified opportunities so as to maximise
cash conservation. We expect most contracts in the NHS to be annually
recurring or multi-year and paid upfront annually further benefiting our
strategy of opportunity linked and cash conscious expansion.
With renewed government commitment to NHS spending on the CDC programme and
growing visibility of customers from imaging centre sites in India, the
Company believes it has multiple roads to profitability and is appropriately
resourced for the journey ahead.
Dr Tom Oakley
Chief Executive Officer
Professor Rory Shaw
Non-Executive Chairman
07 February 2023
Feedback plc
Consolidated Statement of Comprehensive Income
For the six months ending 30 November 2022
Note 6 months 6 months 12 months ending
ending ending 31 May
30 November 2022 30 November 2021 2022
(Unaudited) (Unaudited) (Audited)
£'000 £'000 £'000
Revenue 576 179 589
Cost of sales (37) (60) (99)
Gross profit 539 119 489
Other operating expenses (2,161) (1,357) (3,002)
Operating loss (1,622) (1,238) (2,513)
Net finance income 12 0 2
Loss before taxation (1,610) (1,238) (2,511)
Tax credit 242 175 392
Loss after tax attributable to the equity shareholders of the Company (1,368) (1,063) (2,119)
Total comprehensive expense for the year (1,368) (1,063) (2,119)
Loss per share (pence)
Basic and diluted 2 (10.26) (19.76) (22.67)
Feedback plc
Consolidated Statement of Changes in Equity
As at 30 November 2022
Share Capital Share Premium Capital Reserve Retained Earnings Translation Reserve Share option Reserve Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000
At 31 May 2021 2,667 8,860 300 (6,730) (210) 382 5,269
Total comprehensive loss for the year - - - (2,119) - -
(2,119)
New shares issued 4,000 7,200 - - - -
11,200
Costs of new shares issued - (709) - - - -
(709)
Share-based payments - - - - - 68
68
Total transactions with owners 4,000 6,491 - - - 68
10,559
At 31 May 2022 6,667 15,351 300 (8,849) (210) 450 13,709
Total comprehensive loss for the year - - - (1,368) - - (1,368)
- - - - - - -
New shares issued - - - - - - -
Costs of new shares issued - (0) - - - - (0)
Share-based payments - - - - - 29 29
Total transactions with owners - (0) - - - 29 29
At 30 November 2022 6,667 15,351 300 (10,217) (210) 479 12,370
Feedback plc
Consolidated Statement of Financial Position
As at 30 November 2022
30 November 2022 30 November 2021 31
(Unaudited) (Unaudited) May
2022
(Audited)
Note £'000 £'000 £'000
Assets
Non-current assets
Property, plant and equipment 16 11 8
Intangible assets 3 3,499 3,079 3,289
3,515 3,090 3,297
Current assets
Trade and other receivables 39 62 308
Corporation tax receivable 242 614 392
Cash and cash equivalents 9,228 11,423 10,306
9,509 12,099 11,006
Total assets 13,024 15,189 14,303
Equity
Capital and reserves attributable to the Company's equity shareholders
Called up share capital 6,667 6,667 6,667
Share premium account 15,351 15,352 15,351
Capital reserve 300 300 300
Translation reserve (210) (210) (210)
Share option expense reserve 479 406 450
Retained earnings (10,217) (7,793) (8,849)
Total equity 12,370 14,722 13,709
Liabilities
Current liabilities
Trade and other payables 654 463 594
654 463 594
Non-current liabilities
Contract liabilities - 4 -
- 4 -
Total liabilities 654 467 594
-
Total equity and liabilities 13,024 15,189 14,303
Feedback plc
Consolidated Statement of Cash Flow
For the six months ending 30 November 2022
6 months ending 6 months ending 12 months ending
30 November 30 November 31 May
2022 2021 2022
(Unaudited) (Unaudited) (Audited)
£'000 £'000 £'000
Cash flows from operating activities
Loss before tax (1,610) (1,238) (2,511)
Adjustments for:
Net finance income (12) (0) (2)
Depreciation and amortisation 396 205 553
Share based payment expense 29 24 68
Decrease/(increase) in trade receivables 196 (60) (199)
Decrease/(increase) in other receivables 73 136 29
Increase / (decrease) in trade payables 1 (95) (30)
Increase / (decrease) in other payables 59 10 71
Corporation tax received 392 328 767
Total adjustments 1,134 547 1,257
Net cash used in operating activities (476) (691) (1,254)
Cash flows from investing activities
Purchase of tangible fixed assets (13) - (5)
Purchase of intangible assets (601) (599) (1,149)
Net finance income received 12 0 2
Net cash used in investing activities (602) (599) (1,152)
Cash flows from financing activities
Net proceeds of share issue (0) 10,492 10,491
Net cash generated from financing activities (0) 10,492 10,491
Net increase/(decrease) in cash and cash equivalents (1,078) 9,202
8,085
Cash and cash equivalents at beginning of period 10,306 2,221 2,221
Cash and cash equivalents at end of period 9,228 11,423 10,306
Notes to the Unaudited Interim results for the six months to 30 November 2022
1. Basis of preparation
The accounting policies applied are consistent with those applied in the most
recent consolidated annual report and accounts for the year ended 31 May 2022.
The information set out in this interim report for the six months ended 30
November 2022 does not constitute full statutory accounts under Section 434 of
the Companies Act 2006 and was not subject to a formal review by the auditors.
The financial information in respect of the year ended 31 May 2022 has been
extracted from the statutory accounts which have been delivered to the
Registrar of Companies.
There are no material events to report after the end of the reporting period.
This interim report was approved by the directors on 06 February 2023.
2. Loss per share
Basic loss per share is calculated by reference to the loss on ordinary
activities after taxation and on the weighted average number of shares in
issue.
6 months 6 months 12 months
ending ending ending
30 November 30 November 31 May
2022 2021 Proforma* 2022 Proforma*
(Unaudited) (Unaudited) (Unaudited)
£'000 £'000 £'000
Net loss attributable to ordinary equity holders (1,368) (1,063) (2,119)
Weighted average number of ordinary shares for basic earnings per share 13,334,659 5,378,374 9,345,617
Effect of dilution:
Share Options - - -
Warrants - - -
Weighted average number of ordinary shares adjusted for the effect of dilution 13,334,659 5,378,374 9,345,617
Loss per share (pence)
Basic (10.26) (19.76) (22.67)
Diluted (10.26) (19.76) (22.67)
*The comparative periods have been presented on a proforma basis by applying
the 200:1 share consolidation to the weighted average number of ordinary
shares of that period.
3. Intangible assets
Software Customer relationships Intellectual Property Goodwill Total
development
£'000 £'000 £'000 £'000 £'000
Cost
At 31 May 2021 3,269 100 218 271 3,858
Additions 594 - 5 - 599
At 30 Nov 2021 3,863 100 223 271 4,458
Additions 542 - 8 - 550
Disposal of fully amortised assets - - (34) - (34)
At 31 May 2022 4,405 100 198 271 4,974
Additions 601 - - - 601
At 30 Nov 2022 5,006 100 198 271 5,574
Amortisation
At 31 May 2021 646 100 161 271 1,178
Charge for the year 191 - 11 - 202
At 30 Nov 2021 837 100 172 271 1,380
Charge for the year 334 - 6 - 340
Disposal of fully amortised assets - - (34) - (34)
At 31 May 2022 1,171 100 143 271 1,685
Charge for year 382 - 8 - 390
At 30 Nov 2022 1,553 100 151 271 2,075
Net Book Value
At 30 Nov 2022 3,453 - 46 - 3,499
At 31 May 2022 3,234 - 55 - 3,289
At 30 Nov 2021 3,027 - 52 - 3,079
4. Availability of this report
A copy of this announcement is available from the Company's website, being
https://fbkmed.com/feedback-plc/announcements/
(https://fbkmed.com/feedback-plc/announcements/) .
To receive a hard copy of the interim report, please contact Walbrook Ltd on
020 7933 8780 or feedbackplc@walbrookpr.com
(mailto:feedbackplc@walbrookpr.com) .
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END IR UPUGCPUPWGBQRecent news on Feedback
See all newsREG - Feedback PLC - New tuberculosis partnership in India
AnnouncementREG - Feedback PLC - Further CDC Pilot Programme Secured
AnnouncementREG - Feedback PLC - Holding(s) in Company
AnnouncementREG - Feedback PLC - Medical Imaging Partnership Pilot Agreement
AnnouncementREG - Feedback PLC - Half-year Report
Announcement