REG - IXICO plc - Trading Update

IXICOAnnouncement

25/10/2022 07:01

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RNS Number : 9382D  IXICO plc  25 October 2022

25 October 2022

IXICO plc

("IXICO" or the "Company")

 

Trading Update for year ended 30 September 2022

 

IXICO plc (AIM: IXI), the AI data analytics company delivering insights in
neuroscience, announces a trading update for the year ended 30 September 2022
("FY22").

 

·    Full year FY22 revenue of £8.6 million (2021: £9.2 million).
Year-on-year revenues reflect the impact of the early cessation of client
trials during the year (as announced on 20 October 2021 and 20 January 2022).

 

·    Year-end order book of £16.0 million (2021: £18.8 million),
reflecting the signing of £12.6 million of new contracts during the year,
offset by the delivery of £8.6 million revenues and £6.8 million contract
value reductions due to the early client trial cessations and minor foreign
exchange differences.

 

·    Strong year-end cash of £5.8 million (2021: £6.7 million)
reflecting positive operating cash offset by technology investments designed
to support long term growth. The Company continues to be debt-free.

 

·    Earnings before interest, tax, depreciation, and amortisation
('EBITDA') expected to align with market expectations of £1.5 million.

 

Revenue guidance for the 2023 financial year, as noted in the in the trading
update of 1 September 2022, remains unchanged.

 

The Company intends to announce its audited results for the year ended 30
September 2022 in early December 2022.

 

Giulio Cerroni, Chief Executive Officer of IXICO, commented: "The Company has
delivered a strong close to the year as new contracts signed in the early
months of 2022 initiate.  The investments and adoption of our technology
platform in new clinical trials enable us to continue to build our position as
a trusted partner of choice to the global biopharmaceutical industry. Our
expanded portfolio of advanced data analytics capabilities developed during
the past year means we are well positioned to continue to build our order
book. In particular, I am excited by positive developments occurring within
Alzheimer's Disease, which I anticipate will create additional demand for
IXICO's advanced AI analytics capabilities in 2023 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

IXICO is dedicated to delivering insights in neuroscience. Our purpose is to
advance medicine and human health by turning data into clinically meaningful
information, providing valuable new insights in neuroscience and our goal is
to be a leading proponent of artificial intelligence in medical image
analysis. We will achieve this by developing and deploying breakthrough data
analytics, at scale, through our remote access technology platform, to improve
the return on investment in drug development and reduce risk and uncertainty
in clinical trials for our pharmaceutical clients.

 

More information is available on www.IXICO.com (http://www.IXICO.com) and
follow us on Twitter @IXICOnews

 

 

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