REG - IXICO plc - Trading Update

IXICOAnnouncement

16/04/2025 07:00

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RNS Number : 1864F  IXICO plc  16 April 2025

IXICO PLC
("IXICO" or the "Company")
 
Half-year Trading Update
 
First six months of trading in line with expectations

 

16 April 2025: 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
2025.

 

Key metrics:

 

·   Revenues up 26% compared to the equivalent period in the prior year;
expected to be £3.2m for six months to 31 March 2025 (H1 2024: £2.5m),
putting the Company in a strong position to deliver or exceed guidance;

·   Order book* of £13.1m as at 31 March 2025 (H1 2024: £12.7m),
including new Alzheimer's Disease projects;

·    Strong cash balance at 31 March 2025 of £5.0m (H1 2024: £2.5m),
debt free, following capital raise at the start of the year; and

·   Loss before interest, tax, depreciation, and amortisation to 31 March
2025 expected to be £0.7m (H1 2024: £1.3m loss).

 

The Company is pleased to confirm that it is trading in line with expectation
across the first six months of the year, and that it has delivered revenues
26% above those achieved in the equivalent period in the prior year.

 

Following the successful capital raise at the start of the financial year, the
Company has rapidly progressed with the investment program it laid out to
investors.  In appointing key roles in the US, both commercial and
operational, the Company has expanded its operational services across the US
time zone, making itself more visible and attractive to this critical market.

 

In parallel the Company is further differentiating its imaging biomarker
analysis pipelines for the therapeutic indications of Alzheimer's and
Parkinson's disease, resulting in added traction in these market segments.
It expects the full impact of this to become visible via further contracts won
in these therapeutic indications across the second half of 2025 and into 2026.

 

Across the period, where the Company sees opportunities to accelerate this
goal, it will invest to do so, both organically and through value-accretive
partnerships.  This may increase expenditure within 2025, with the
expectation of increasing revenues in 2026 and beyond.

 

The Company's first half results will be released on 20 May 2025.

 

 

Bram Goorden, CEO of IXICO, said: "The first half of 2025 has seen IXICO add
new global capabilities, talent and innovation. This is resulting in new
client wins in targeted disease areas building on our strengthened financial
performance at the end of 2024. It is rewarding to see our Company's position
in the thriving space of neurodegenerative disease research and, having
recently completed my first 6 months in the Company, my conviction has been
further strengthened that IXICO and its differentiated technology platform is
going to make an accelerated impact in the market."

 

 

*Order book refers to those client contracts that have been signed by the
Company but not yet delivered.

 

 

Ends

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the UK version of the EU
Market Abuse Regulation 596/2014 which is part of UK law by virtue of the
European Union (Withdrawal) Act 2018, as amended and supplemented from time to
time. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

Further information:

 

 IXICO plc                                                                  +44 (0) 20 3763 7499
 Bram Goorden, Chief Executive Officer Grant Nash, Chief Financial Officer
 Cavendish Capital Markets Limited (Nominated Adviser and Sole Broker)      +44 (0) 20 7220 0500
 Giles Balleny / Dan Hodkinson (Corporate Finance)

 Nigel Birks (Healthcare Specialist Sales)

 Harriet Ward (Corporate Broking)

 Michael F Johnson (Sales)

 

About IXICO www.IXICO.com (http://www.ixico.com/)

IXICO is a global leader in neuroscience imaging and biomarker analytics,
using its proprietary AI-driven platform to help advance the treatment of
neurological disorders and reduce the uncertainties associated with drug
discovery, development and monitoring.   As a key part of the global
neurological disease research community, the Company has built a global
reputation and 20-year track record as an end-to-end Imaging Contract Research
Organisation (iCRO) working with leading pharma companies, innovative
biotech's, disease consortia and non-profit organisations. The IXICO has
supported hundreds of neurological clinical trials, analyzed hundreds of
thousands scans and built an expansive network of expert imaging centres
around the world.

 

The IXICO Platform is tailor-made for neurological disease, reliably
processing data from global trials, precisely measuring key imaging biomarkers
associated with the identification, progression and treatment of diseases such
as Alzheimer's, Huntington's and Parkinson's.  Image data is interrogated by
the Platform and IXICO's expert scientists translating complex data into
clinically meaningful while minimizing data variability and increasing
reproducibility.

 

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