Half year report
GenIP Plc
("GenIP" or the "Company")
Half year report
GenIP plc (AIM: GNIP), a provider of AI-driven services to help research organisations and corporations commercialise their innovations, announces its unaudited interim results for the six months ended 30 June 2026 ('H1 2026').
Business Highlights
· Broader client adoption and increased repeat usage across academia, government innovation bodies and corporate Research and Development, diversifying and strengthening the customer base.
· Expanded commercial coverage across Asia and Latin America through regional business development appointments.
· In April, the Company announced a strategic alliance with Cardinal Intellectual Property, supporting GenIP's acerated access to the US market.
· Continued progress in transforming the Company since its Initial Public Offering in 2024 into a credible participant in the rapidly developing AI-enabled innovation-intelligence market.
Financial Highlights
· Revenue of $53k (H1 FY25: $76k, excluding one-off Saudi contract*).
· Gross margin of 6% (H1 FY25: 18%).
· Adjusted EBITDA loss of $692k (H1 FY25: $561k).
· Cash at period end of $410k.
· $470k (£350k) equity placing in April 2026, with funds deployed to improve commercialisation of partnerships and alliances, and to continue product development.
*FY25 revenue benefited from a one-off order from Saudi Arabia of $368k which is excluded to provide a more meaningful like-for-like comparative.
Post-Period Highlights
· New customer orders across Chile, United Kingdom and North America.
· Ongoing platform enhancements supporting improved delivery, efficiency and scalability.
· In August 2026 the Company signed a new Talent Search engagement contract, providing early evidence that the repositioning is gaining traction and resonating with clients.
Melissa Cruz, CEO of GenIP, commented:
"Our focus for the first half of 2026 has seen us continue our current relationships and establishing repeat and recurring revenue streams, and I am pleased with the progress we have made to date in this regard. With support from the funds of the April 2026 placing, we have accelerated platform development, improved commercialisation, increased automation and expanded our proprietary datasets, putting the business in a stronger position going forward.
"The Company enters the second half of FY26 with a good pipeline, deeper client engagement and increasing industry recognition. While first-half revenues reflect the absence of last year's exceptional contract, underlying indicators are positive and aligned with the Company's development stage. GenIP remains focused on disciplined execution, technology development and commercial conversion."
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.
For further information regarding GenIP, please visit www.genip.ai, or contact:
GenIP Plc
Melissa Cruz, CEO
Via Walbrook PR
Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish / Asia Szusciak / Andrew Price
Tel: +44 (0) 20 7628 3396
AlbR Capital Limited (Joint Broker)
Colin Rowbury
Jon Belliss
Tel: +44 (0) 20 7399 9427
CMC Markets (Joint Broker)
Douglas Crippen
Tel: + 44 (0) 203 003 8632
Walbrook PR (Financial PR)
Alice Woodings
William Turner
Tel: +44 (0) 7407 804 654
Tel: +44 (0) 7407 020 470
focusIR (Investor Relations)
Kat Perez
Dr Paul Cornelius
Tel: +44 (0) 20 4570 2234
Tel: +44 (0) 20 4570 2246
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
About GenIP
GenIP is a next-generation business at the intersection of generative AI and innovation strategy. We empower corporates, venture funds, and research institutions to evaluate, commercialise, and scale breakthrough technologies. By combining proprietary GenAI algorithms with expert human analysis, GenIP delivers decision-grade insights and talent solutions that accelerate innovation outcomes.
Service Offerings
GenIP operates through two synergistic service lines:
Service
Description
Value Proposition
Invention Intelligence Product Suite
AI-powered market intelligence reports assessing the commercial potential of emerging technologies
Enables faster, evidence-based decisions on R&D prioritisation, investment, and IP strategy
IP Commercialisation Services
End-to-end engagement to help research organisations commercialise innovations
Provides cost-effective, broad support to achieve our clients' strategic objectives
Together, these services form a unified GenAI-enabled platform for innovation triage and execution.
Vision & Strategy
GenIP aims to become the global leader in generative AI analytics for innovation commercialisation. Our strategy is anchored in three growth pillars:
· Organic Expansion
Scale Invention Evaluator and Recruitment Services through targeted outreach to corporates, VCs, and research institutions, supported by strategic marketing and digital engagement.
· Service Deepening
Enhance functionality and margin by expanding GenAI capabilities within both service lines-unlocking new use cases and customer segments.· Strategic Acquisitions
Pursue bolt-on acquisitions of complementary GenAI services with validated market traction to broaden our offering and accelerate growth.
Chairman's Statement
FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2026
The first half of 2026 has been a period of consolidation for GenIP as we continue to build a company with a defined role in the fast-developing field of AI-enabled innovation-intelligence. GenIP joined AIM as a young business with a clear vision but substantial work ahead to establish its technology, product range and market position. Much of this foundational development has continued throughout FY26, while the Company has simultaneously broadened its commercial activity and strengthened its relationships across academia and industry.
Engagement with academic institutions, government innovation bodies and corporate R&D teams continues to strengthen. GenIP's AI-enabled Invention Intelligence Suite is increasingly recognised as a practical and scalable tool for evaluating research outputs and supporting early-stage commercialisation decisions. We are encouraged by the increased engagement and confidence shown by clients returning for further work.
As Chairman, I was pleased to host a round table held in June attended by senior representatives from leading UK universities and research organisations. The discussion provided valuable insight into the challenges faced by academia and highlighted the constructive role GenIP can play in supporting them. GenIP's increased presence at industry events and innovation forums has enhanced visibility and supported pipeline development as well as highlighting the growing need for a structured, data-driven innovation-intelligence tool. These engagements reinforce the Company's reputation as a credible participant in the innovation-intelligence ecosystem and help shape our understanding of emerging client needs.
The broader environment remains favourable. Governments are investing in national innovation programmes; universities are seeking more structured evaluation of research outputs and corporations are increasingly focused on identifying commercially viable technologies within their R&D portfolios. GenIP is well positioned to benefit from these trends through its differentiated product suite, expanding international reach and disciplined operational approach.
On behalf of the Board, I would like to thank our shareholders, clients and employees for their continued support. We look forward to the remainder of FY26 with confidence as GenIP continues to build momentum and strengthen its position in this important and rapidly growing market.
Lord D L Willetts
Independent Non-Executive Chairman
CEO Statement
FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2026
The first six months of 2026 have been a period of steady operational progress for GenIP as we continue to build a
scalable, globally relevant innovation-intelligence business. Since IPO, the Company has been developing its technology, product range and market presence from what was effectively a seed-capital starting point. Much of this foundational work has continued throughout H1 FY26, while we have also expanded commercial activity, strengthened client relationships and advanced our technology platform.
Commercial activity and market positioning
GenIP entered FY26 with a broader client base and the underlying commercial picture is encouraging. We have seen wider client adoption, increased repeat usage and a more diversified spread of smaller engagements across multiple regions. These patterns are consistent with a young company building out its platform, establishing credibility and developing a more stable commercial rhythm.
During the period, we secured new engagements across Latin America, Africa, Europe and Asia, demonstrating the global applicability of our AI-enabled evaluation tools. Repeat usage from clients in Brazil, Chile, South Africa and the UK shows that our products are becoming embedded in institutional innovation workflows.
FY25 revenue was materially influenced by a one-off $368,000 engagement in Saudi Arabia which was exceptional in both scale and scope, accounting for 70.8% of total revenues for the financial year. While this project demonstrated the Company's capability to deliver complex innovation-intelligence work, at scale, it also distorted year-on-year comparisons and affected margin performance, as lower volumes reduce the operational leverage that benefits Gen IP's delivery model.
On a like-for-like basis, excluding this exceptional order, revenues for the first half of FY26 are marginally down from H1 2025 however we are engaged in a larger number of active discussions, with a broader range of institutions, and clearer visibility on prospective conversion rates for FY26. We remain disciplined in our expectations and the quality and maturity of the pipeline provide confidence in the outlook for the remainder of the year.
Product development and technology platform
Enhancement of our AI-powered product range remains a key focus. The Competitive Intelligence, Invention Prioritizer and Invention Validator tools launched in late FY25 have seen encouraging early adoption, supporting strategic decision-making, portfolio prioritisation and commercial readiness assessments.
During the period, we progressed several areas of platform development:
· Expansion of our proprietary innovation-intelligence dataset
· Refinement of AI models to improve accuracy and reduce processing time
· Introduction of workflow automation features to support multi-stage evaluation processes
· Strengthening of internal delivery tooling to support scale and consistency
These investments are essential to maintaining product leadership and enabling delivery of higher-margin, repeatable services. They also reflect the Company's ongoing transition from early-stage development to a more mature, scalable technology platform.
Strategic developments
During the period, we continued to build out our broader commercialisation capability and expand our network of strategic partnerships with innovation agencies, research institutions and technology-transfer organisations. These partnerships support pipeline development, market access and product validation, particularly in regions where national innovation programmes are accelerating demand for structured evaluation tools.
We strengthened our international positioning through a new alliance with Cardinal IP, a long-established and highly regarded provider of patent search and IP review services in the United States. Cardinal is recognised by key US Government offices for its role in supporting patent examination and prior-art search processes. This alliance provides GenIP with enhanced visibility in the world's largest IP market and creates opportunities for collaboration, knowledge-sharing and future commercial development.
The repositioning of Vortechs as Talent Search has also improved our offering across the innovation lifecycle and is steadily gaining traction.
Equity placing and investment
We continue to invest in our technology platform, dataset expansion and internal systems. These investments are essential for a business at this stage of development and will support scale, improve margins and ensure GenIP remains competitive in a rapidly evolving market. The £350,000 equity placing completed in April 2026 has strengthened the Company's financial position and provided additional resources to support product enhancement and commercial expansion.
We expanded our dataset, advanced AI model development, strengthened internal tooling and increased commercial capability in key markets. These investments are already contributing to improved operational efficiency and enhanced product performance as we continue to build the infrastructure required for scale.
Outlook
The outlook for the remainder of FY26 is grounded in a realistic assessment of both market conditions and the Company's own development stage. While revenue in the first half reflects the absence of last year's exceptional order, the underlying commercial indicators are positive: a broader client base, deeper engagement with existing customers, and a materially stronger prospect pipeline than at the same point last year.
The Company's technology continues to mature, supported by continued platform development, increasing industry recognition, and strategic partnerships such as the alliance with Cardinal IP which are expanding our reach and credibility. These factors collectively support confidence in the Company's ability to convert its growing opportunity set into future revenue.
Our focus for the second half of the year remains to be disciplined execution; progressing active opportunities, strengthening delivery capability, advancing the technology platform and continuing to build the foundations required for long-term scale.
On behalf of the board
Ms M Cruz
CEO
CFO Statement
FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2026
The financial performance for the six months ended 30 June 2026 reflects the realities of a young company still building out its technology, product range and commercial presence following its seed-stage IPO. As anticipated, the absence of the one-off $368,000 Saudi order delivered in FY25 has had a material impact on the comparison of reported revenue and margin performance in the current period and created a distortion in year-on-year comparisons. For this reason, a like-for-like assessment provides a more accurate view of underlying performance.
Financial Highlights - adjusted for the removal of revenue incurred from the Saudi engagement
Six months ended
Year ended
30 June 2026
30 June 2025
31 December 2025
US$
US$
US$
Revenue
53,641
76,171
152,173
Gross Profit Margin
3,120
9,330
36,946
Adjusted EBITDA
(691,946)
(574,902)
(1,169,078)
Net Assets
353,661
733,720
579,157
Cash Balances
409,970
761,995
660,986
Deferred Revenue
131,746
150,880
139,639
Financial Highlights - unadjusted - period ended 30 June 2026
Six months ended
Year ended
30 June 2026
30 June 2025
31 December 2025
US$
US$
US$
Revenue
53,641
125,166
520,389
Gross Profit Margin
3,120
22,620
164,742
Adjusted EBITDA
(691,946)
(561,687)
(1,041,282)
Net Assets
264,647
745,382
579,157
Cash Balances
409,969
1,076,818
660,986
Deferred Revenue
152,958
418,335
139,639
Revenue
Revenue for the period was generated entirely from the Company's core AI-enabled innovation-intelligence and commercialisation services. New engagements were secured across Latin America, Africa, Europe and Asia, supported by repeat usage from existing clients. The prospect pipeline at the end of the period was materially stronger than at the same point last year, providing increased confidence in conversion opportunities for the second half.
Gross Margin
Gross margins were lower than the prior year, reflecting the impact of reduced volumes. The Company's delivery model benefits from operational leverage, and lower revenue naturally limits margin expansion. However, underlying operational efficiency continues to improve. Investments in workflow automation, dataset expansion and internal delivery tooling have reduced processing time, improved consistency and strengthened the scalability of the Company's evaluation workflows. These enhancements will support margin progression as volumes increase.
Operating Costs
Operating costs increased modestly, driven by continued investment in product development, technology infrastructure and commercial capability. These investments are essential for a business at this stage of development and align with the Company's strategy of building a scalable platform capable of supporting long-term growth.
Capital Raise
In April 2026, the Company successfully completed a £350,000 equity placing with new and existing investors. This raise should be viewed in the context of GenIP's development journey: the Company entered AIM at an early stage, with significant work required to build its technology, dataset, product suite and market presence. The placing represents another step in funding that development. Proceeds are being applied to:
· Technology platform development, including dataset expansion and AI model refinement
· Product enhancement across the Invention Intelligence Suite
· Strengthening commercial capability in key markets
· Working capital to support delivery and operational resilience
The raise has strengthened the Company's financial position and provides the flexibility required to progress its roadmap during FY26.
Cash Position
The Company ended the period with a stable cash position, supported by disciplined cost management and the proceeds of the April placing.
Share based payments
Share based payments to incentivise and retain key personnel, together with options and warrants granted have been valued using the Black-Scholes model with the fair value of these payments, warrants and options being expensed over the vesting period.
Total share-based payment expense $62k recognised in the period ended 30 June 2025 ($62k in the period to 30 June 2025; $124k in the year to 31 December 2025).
This ensures cost efficiency while rewarding performance, enhancing alignment between management and shareholders.
Going Concern
The Directors have assessed the Company's going concern position using detailed trading and cashflow forecasts, including reverse stress testing and have considered the potential impact of delayed customer receipts alongside the £350,000 ($470,000) fundraise completed on 30 April 2026.While the Company's early stage/seed capital position in a fast moving market gives rise to a material uncertainty that may cast significant doubt on its ability to continue as going concern, the Board has developed appropriate mitigation plans and has a reasonable expectation that the Company will continue to meet its obligations and operate as a going concern.
Performance against KPI's
GenIP Plc tracks several financial and operational metrics, including:
· Revenue Growth: Expanding client acquisition
· Gross Margin: Improving cost efficiency
· Cash Flow Management: Maintaining liquidity
· Client Engagement: Strengthening relationships across sectors
The Key Performance Indicators (KPI's) listed below represent those that are typically applied to technology service companies and serve as a starting point for evaluating the Company's performance and guide decision making, to ensure long-term sustainability.
KPI
Description
Jun-26
Jun-25
Dec-25
Total Income
Total Income including revenue from Invention Evaluator and Talent Search Sales
$53,641
$125,166
$520,389
Gross
Profit Margin
Percentage of revenue remaining after deducting cost of sales
5.80%
18.10%
31.70%
Operating Cash Flow
Net cash generated (absorbed) from business operations before financing activities.
($672,585)
$229,450
($720,312)
STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)
FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2026
Six months
ended
Six months
ended
Year
ended
30 June
30 June
31 Dec
2026
2025
2025
Unaudited
Unaudited
Audited
Notes
$
$
$
Revenue
53,641
125,166
520,389
Cost of sales
(50,521)
(102,546)
(355,647)
Gross profit
3,120
22,620
164,742
Administrative expenses
(694,267)
(584,307)
(1,206,024)
Adjusted EBITDA before share based payments
(691,147)
(561,687)
(1,041,282)
Amortisation
3
(49,434)
(47,875)
(95,752)
Share-based payment charge
6
(61,813)
(62,068)
(123,626)
Operating loss
(802,394)
(671,630)
(1,260,660)
Investment revenues
2,274
6,045
9,613
Loss before taxation
(800,120)
(665,585)
(1,251,047)
Income tax expense
-
-
-
Loss and total comprehensive income for the six month period
(800,120)
(665,585)
(1,251,047)
Six months
Six months
Year
ended
ended
ended
30 June
30 June
31 Dec
2026
2025
2025
Unaudited
Unaudited
Audited
Earnings per share
$
$
$
Basic
(0.035)
(0.038)
(0.070)
Diluted
(0.035)
(0.038)
(0.070)
In the six months ended 30 June 2026 other comprehensive income was $nil (period ended 30 June 2025: $nil; year ended 31 December 2025: $nil).
All items dealt within arriving at the loss for the six months ended 30 June 2026 are attributable to the equity holders of the company and relate to continuing operations.
STATEMENT OF FINANCIAL POSITION (UNAUDITED)
FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2026
30 June
30 June
31 Dec
2026
2025
2025
Unaudited
Unaudited
Audited
Notes
$
$
$
Non-current assets
Intangible assets
3
167,143
217,463
175,302
Current assets
Trade and other receivables
4
174,141
239,896
213,290
Cash and cash equivalents
409,969
1,076,818
660,986
584,110
1,316,714
874,276
Current liabilities
Trade and other payables
5
333,648
370,460
330,782
Deferred revenue
152,958
418,335
139,639
486,606
788,795
470,421
Net current assets
97,504
527,919
403,855
Net assets
264,647
745,382
579,157
Equity
Called up share capital
148,100
102,097
119,147
Share premium account
2,229,668
1,530,040
1,810,553
Option & warrant reserve
533,311
374,095
495,769
Capital redemption reserve
291,564
291,564
291,564
Retained earnings
(2,937,996)
(1,552,414)
(2,137,876)
Total equity
264,647
745,382
579,157
The interim financial statements were approved by the board of directors and authorised for issue on 27 August 2026 and are signed on its behalf by:
Mr K Fitzpatrick
Director
STATEMENT OF CHANGES IN EQUITY (UNAUDITED)
FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2026
Share capital
$
Share premium account
$
Capital redemption
reserve
$
Options & warrant reserve
$
Retained earnings
$
Total
$
Balance at 1 January 2026
119,147
1,810,553
291,564
495,769
(2,137,876)
579,157
Period ended 30 June 2026:
Loss and total comprehensive income
-
-
-
-
(800,120)
(800,120)
Transactions with owners:
Issue of share capital
28,953
447,914
-
-
-
476,867
Cost of share issue
-
(28,799)
-
-
-
(28,799)
Share based payment
-
-
-
37,542
-
37,542
Balance at 30 June 2026 (Unaudited)
148,100
2,229,668
291,564
533,311
(2,937,996)
264,647
Balance at 1 January 2025
102,097
1,530,040
191,564
335,250
(886,829)
1,272,122
Period ended:
Loss and total comprehensive income
-
-
-
-
(665,585)
(665,585)
Transactions with owners:
Share based payment
-
-
-
38,845
-
38,845
Capital contribution
-
-
100,000
-
-
100,000
Balance at 30 June 2025 (Unaudited)
102,097
1,530,040
291,564
374,095
(1,552,414)
745,382
Balance at 31 December 2024
102,097
1,530,040
191,564
335,250
(886,829)
1,272,122
Year ended 31 December 2025:
Loss and total comprehensive income
-
-
-
-
(1,251,047)
(1,251,047)
Transactions with owners:
Issue of share capital
17,050
384,687
-
-
-
401,737
Cost of share issue
-
(104,174)
-
-
-
(104,174)
Share based payment
-
-
-
160,519
-
160,519
Capital contribution
-
-
100,000
-
-
100,000
Balance at 31 December 2025 (Audited)
119,147
1,810,553
291,564
495,769
(2,137,876)
579,157
STATEMENT OF CASH FLOWS (UNAUDITED)
FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2026
Six months
Six months
Year
ended
ended
ended
30 June
30 June
31 Dec
2026
2025
2025
Notes
Unaudited
$
Unaudited
$
Audited
$
Cash flows from operating activities
Cash absorbed by operations
8
(672,585)
229,450
(720,312)
Net cash outflow from operating activities
(672,585)
229,450
(720,312)
Investing activities
Purchase of intangible assets
(41,275)
(9,972)
(15,687)
Interest received
2,274
6,045
9,613
Net cash used in investing activities
(39,001)
(3,927)
(6,074)
Financing activities
Proceeds from issue of shares
476,867
-
401,737
Share issue costs
(28,799)
-
(20,064)
Repayment of convertible loans
-
(133,570)
-
Capital contribution
12,501
12,501
33,335
Net cash generated from financing activities
460,569
(121,069)
415,008
Net decrease in cash and cash equivalents
(251,017)
104,454
(311,378)
Cash and cash equivalents at beginning of year
660,986
972,364
972,364
Cash and cash equivalents at end of year
409,969
1,076,818
660,986
NOTES TO THE FINANCIAL STATEMENTS
FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2026
1 Basis of preparation Company information
GenIP Plc is a public company limited by shares incorporated in England and Wales. The registered office is 12 New Fetter Lane, London, EC4A 1JP.
General information and statement of compliance with IFRS Accounting Standards
The interim financial statements are for the six months ended 30 June 2026 and are presented in US dollars, which is the functional currency of the company. All monetary amounts are rounded to the nearest US dollar unless otherwise stated.
The interim financial statements have been prepared in accordance with IAS 34 'Interim Financial Reporting' as issued by the International Accounting Standards Board. They do not include all of the information required in annual financial statement in accordance with IFRS Accounting Standards and should be read in conjunction with the financial statements for the year ended 31 December 2025.
Accounting policies
The Interim Financial Statements have been prepared in accordance with the accounting policies adopted in the company's most recent annual financial statements for the year ended 31 December 2025.
2 Segmental analysis
IFRS 8 requires operating segments to be identified based on internal reporting. Accordingly, the determination of the company's operating segments is based on the following organisation units for which management accounting information is reported to the company's management and used to make strategic decisions:
· Invention Intelligence services (formerly, Invention Evaluator)
· IP Commercialisation services (formerly, Vortechs)
The activities, products and services of the reportable segments are detailed in the Strategic report.
Period ended 30 June 2026
Invention intelligence services
IP
commercialisation services
Unallocated
Total
$
$
$
$
Income statement
Revenue
53,641
-
-
53,641
Cost of Sales
(50,172)
(385)
-
(50,557)
Operating costs
(201,085)
-
(555,675)
(756,760)
Depreciation and amortisation
(22,876)
(25,000)
(1,558)
(49,433)
Operating loss
(220,492)
(25,385)
(557,233)
(803,110)
Interest income / (expense)
-
-
2,274
2,274
Loss on ordinary activities before tax
(220,492)
(25,385)
(554,959)
(800,836)
Tax
-
-
-
-
Loss on ordinary activities after tax
(220,492)
(25,385)
(554,959)
(800,836)
Statement of financial position
Assets
171,724
2,358
529,354
703,436
Liabilities
(225,577)
-
(213,212)
(438,789)
Net assets / (liabilities)
(53,853)
2,358
316,142
(264,647)
Other segmental items
Capital expenditure
-
-
29,482
29,482
Period ended 30 June 2026
Invention intelligence
services
IP
commercialisation services
Unallocated
Total
$
$
$
$
Income statement
Revenue
111,666
13,500
-
125,166
Cost of Sales
(91,885)
(10,661)
-
(102,546)
Operating costs
(241,203)
(29,706)
(275,465)
(546,374)
Depreciation and amortisation
(22,876)
(25,000)
-
(47,876)
Operating loss
(244,298)
(51,867)
(275,465)
(571,630)
Interest income / (expense)
-
-
6,045
6,045
Loss on ordinary activities before tax
(244,298)
(51,867)
(269,420)
(565,585)
Tax
-
-
-
-
Loss on ordinary activities after tax
(244,298)
(51,867)
(269,420)
(565,585)
Statement of financial position
Assets
177,999
52,358
1,303,820
1,534,177
Liabilities
(530,387)
(2,666)
(255,742)
(788,795)
Net assets / (liabilities)
(352,388)
49,692
1,048,078
745,382
Other segmental items
Capital expenditure
-
-
9,972
9,972
Period ended 31 December 2025
Invention intelligence services
IP
commercialisation services
Unallocated
Total
Income statement
$
$
$
$
Revenue
512,389
8,000
-
520,389
Cost of sales
(340,029)
(15,618)
-
(355,647)
Operating costs
(321,140)
(11,221)
(997,289)
(1,329,650)
Depreciation and amortisation
(45,752)
(50,000)
(95,752)
Operating loss
(194,532)
(68,839)
(997,289)
(1,260,660)
Interest income/ (expense)
9,613
9,613
Loss on ordinary activities before tax
(194,532)
(68,839)
(987,676)
(1,251,047)
Tax
-
-
-
-
Loss on ordinary activities after tax
(194,532)
(68,839)
(987,676)
(1,251,047)
Statement of financial position
Assets
255,437
27,358
766,783
1,049,578
Liabilities
(216,912)
(2,000)
(251,509)
(470,421)
Net assets/(liabilities)
38,525
25,358
515,274
579,157
Other segmental items
Capital expenditure
-
-
15,687
15,687
3
Intangible assets
Invention Evaluator
Vortechs
Website
Total
$
$
$
$
Cost
At 31 December 2025
517,428
462,771
22,338
1,002,537
Additions
-
-
41,275
41,275
At 30 June 2026
517,428
462,771
63,613
1,043,812
Amortisation and impairment
At 31 December 2025
391,822
435,413
-
827,235
Charge for the period
22,876
25,000
1,558
49,434
At 30 June 2026
414,698
460,413
1,558
876,669
Carrying amount
At 30 June 2026
102,730
2,358
62,055
167,143
At 31 December 2025
125,606
27,358
22,338
175,302
Invention Evaluator
Vortechs
Website
Total
$
$
$
$
Cost
At 31 December 2024
517,428
462,771
6,651
986,850
Additions
-
-
9,972
9,972
At 30 June 2025
517,428
462,771
16,623
996,822
Amortisation and impairment
At 31 December 2024
346,070
385,413
-
731,483
Charge for the period
22,875
25,000
-
47,875
At 30 June 2025
368,946
410,413
-
779,359
Carrying amount
At 30 June 2025
148,482
52,358
16,623
217,463
At 31 December 2024
171,357
77,358
6,651
255,366
Invention Evaluator
Vortechs
Website
Total
$
$
$
$
Cost
At 31 December 2024
517,428
462,771
6,651
986,850
Additions
-
-
15,687
15,687
At 31 December 2025
517,428
462,771
22,338
1,002,537
Amortisation and impairment
At 31 December 2024
346,070
385,413
-
731,483
Charge for the year
45,752
50,000
-
95,752
At 31 December 2025
391,822
435,413
-
827,235
Carrying amount
At 31 December 2025
125,606
27,358
22,338
175,302
At 31 December 2024
171,357
77,358
6,651
255,366
4 Trade and other receivables
30 June
30 June
31 December
2026
2025
2025
$
$
$
Trade receivables
20,014
18,638
76,395
Provision for bad and doubtful debts
(17,179)
(17,179)
(17,179)
2,835
1,459
59,216
VAT recoverable
34,881
27,461
23,977
Amounts owed by related parties
67,109
114,555
84,208
Prepayments
69,316
96,421
45,889
174,141
239,896
213,290
5 Trade and other payables
30 June
30 June
31 December
2026
$
2025
$
2025
$
Trade payables
115,614
191,235
81,140
Accruals
204,211
173,024
241,943
Social security and other taxation
10,806
4,675
7,699
Other payables
3,017
1,526
-
333,648
370,460
330,782
6 Share-based payments
Number of share options and warrants
Average exercise price
Number
$
Outstanding at 1 January 2025 Granted in the period
5,629,418
0.58
-
Outstanding at 30 June 2025
5,629,418
0.58
Exercisable at 30 June 2025
5,629,418
0.58
Outstanding at 1 July 2025
5,629,418
0.58
Granted in the period
3,150,000
0.25
Outstanding at 31 December 2025
8,779,418
0.46
Exercisable at 31 December 2025
8,779,418
0.46
Outstanding at 1 January 2026
Granted in the period
8,779,418
-
0.46
-
Outstanding at 30 June 2026
8,779,418
0.46
Exercisable at 30 June 2026
8,779,418
0.46
Options outstanding
Share options and warrants outstanding at the end of the period have the following expiry dates and exercise prices
Grant date
Expiry date
Exercise price
30 June
2026
Number
30 June
2025
Number
31 December
2025
Number
17 July 2024
17 July 2027
£0.39 ($0.53)
215,917
215,917
215,917
5 August 2024
5 August 2027
£0.39 ($0.53)
332,200
332,200
332,200
9 August 2024
9 August 2027
£0.39 ($0.53)
215,917
215,917
215,917
26 September 2024
2 October 2029
£0.39 ($0.53)
217,949
217,949
217,949
26 September 2024
2 October 2027
£0.39 ($0.53)
160,256
160,256
160,256
26 September 2024
2 October 2027
£0.43 ($0.59)
4,487,179
4,487,179
4,487,179
18 December 2025
18 December 2028
£0.10 ($0.13)
150,000
-
150,000
18 December 2025
18 December 2027
£0.20 ($0.26)
3,000,000
-
3,000,000
8,779,418
5,629,418
8,779,418
30 June
30 June
31 December
2026
2025
2025
$
$
$
Expenses
Related to equity settled share based payments
61,813
62,068
123,626
7 Related party transactions
Tekcapital Group
Tekcapital PLC is the largest shareholder and a related party of GenIP PLC by virtue of having significant influence over the entity.
Convertible Loan / Inter-company Receivable
During the year ended 31 December 2025, GenIP PLC and Tekcapital Group agreed to offset the amount owing on a convertible loan note and an intercompany balance and transfer any residual amount to the intercompany balance and close the convertible loan note with an effective date of 31 December 2024.
At the 30 June 2026, an amount of $12,936 (Jun 25: $27,049; Dec 25: $17,543) was owed from Tekcapital Group to GenIP PLC.
Development Costs
During the year ended 31 December 2025, Tekcapital PLC agreed to reimburse GenIP $100,000 relating to IT development costs incurred in a previous year. The $100k has been recognised as a capital contribution. Tekcapital PLC are paying the amount over 24 months starting from April 2025. The balance outstanding at 30 June 2026 was $54,173 (Jun 25: $87,499; Dec 25: $66,667).
Unutilised Credits
During the year Tekcapital agreed to reimburse GenIP up to a maximum of $100,000 for Invention Intelligence services deferred income unutilised credits made in years prior to the business transfer. This reimbursement to be claimed and paid monthly, as the credits are utilised. In the six period month to 30 June 2026 $4,243 was claimed (six months to June 25: $16,111; year to Dec 25: $22,261).
Phosphorix Ltd
The company entered into a master services agreement with Phosphorix Ltd, a company owned and operated by the CTO of GenIP Plc. Phosphorix Ltd operates the Invention Evaluator platform and provides IT development services to the Company. Pricing and costing is on an arm's length basis.
In the period to 30 June 2026, the company incurred $44,742 (period to June 2025: $88,943) of cost of sales of which $30,817 (period to June 2025: $30,928) was outstanding at the reporting date.
Guident Limited
During the period to 30 June 2026, $nil (period to June 2025: $8,000) of Vortechs sales were made to Guident Limited, a related party by virtue of common control.
8 Cash generated from/(absorbed by) operations
Six months
ended
Six months
ended
Year ended
30 June
30 June
31 Dec
2026
$
2025
$
2025
$
Loss for the six month period before taxation
(800,120)
(665,585)
(1,251,047)
Adjustments for:
Investment income
(2,274)
(6,045)
(9,613)
Amortisation and impairment of intangible assets
49,434
47,876
95,752
Equity settled share based payment expense
61,813
62,068
76,409
Movements in working capital:
Decrease in trade and other receivables
26,648
251,731
257,502
Increase/ (decrease) in trade and other payables
(21,405)
199,464
49,440
Increase in deferred revenue outstanding
13,319
339,941
61,245
Cash generated from/(absorbed by) operations
(672,585)
229,450
(720,312)
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