REG - Oxford Metrics PLC - Trading Update

Oxford MetricsAnnouncement

23/09/2024 07:00

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RNS Number : 1375F  Oxford Metrics PLC  23 September 2024

23 September 2024

Oxford Metrics plc

("Oxford Metrics", or the "Group")

 

Trading Update

 

Oxford Metrics (LSE: OMG), the smart sensing software company, servicing life
sciences, entertainment, engineering and smart manufacturing markets, today
provides the following update on trading for the financial year ending 30
September 2024.

 

While the Group continues to have a healthy pipeline, the trend of more
extended buying cycles has developed in the second half against a strong prior
year comparative. Globally, we are seeing customers across our markets
exercising greater caution and purchasing decisions are taking longer to
conclude. A number of opportunities in the pipeline have now shifted into the
new financial year.

 

On a segmental basis, in Vicon, Engineering and Life Sciences are expected to
be slightly behind the prior year and Entertainment has been impacted by the
ongoing slowdown in the global games industry and subsequent content creation
contraction.

 

Markerless remains on track for commercial delivery in FY25. Our team
continues to work hard to set the gold standard for our industry's future -
markerless technology. Following positive feedback and demand for this next
generation technology, we have secured three more blue chip partners to enter
the beta programme taking the total to 10 cornerstone customers.

 

The Group now expects to report revenues in the range of £40-£42million and
is expected to result in Adjusted PBT* materially below current market
expectations* for the financial year.

 

The Group continues to have high gross margins and remains in a strong
financial position with a robust current net cash position of c. £50 million,
enabling the business to continue its active pursuit of a number of M&A
opportunities within the smart manufacturing space to enhance our recent
acquisition of Industrial Vision Systems ("IVS"). We are excited about the
opportunities open to us to drive more applications into the smart
manufacturing space to build the Group's position in this important market.

 

More detail will be provided when Oxford Metrics announces its Preliminary
Results for the financial year ended 30 September 2024 which is expected on
Tuesday, 3 December 2024.

 

*Oxford Metrics' compiled market consensus as at 20 September 2024 is as
follows: FY24 Revenue £48.6m / FY Adjusted PBT £7.8m.

 

 

For further information please contact:

 

 Oxford Metrics                                          +44 (0)1865 261860
 Imogen O'Connor, CEO
 Zoe Fox, CFO

 Numis Securities Limited                                +44 (0)20 7260 1000
 Simon Willis / Hugo Rubinstein / Tejas Padalkar

 FTI Consulting                                          +44 (0)20 3727 1000
 Matt Dixon / Emma Hall / Jamille Smith / Jemima Gurney

 

 

About Oxford Metrics

 

Oxford Metrics develops software that enables the interface between the real
world and its virtual twin. Our smart sensing software helps over 10,000
customers in more than 70 countries, including all of the world's top 10 games
companies and all of the top 20 universities worldwide. Founded in 1984, we
started our journey in healthcare, expanded into entertainment, winning an
OSCAR® and an Emmy®, then moved into defence and engineering. We have a
track record of creating value by incubating, growing and then augmenting
through acquisition, unique technology businesses.

 

The Group trades through its market-leading division: Vicon. Vicon is a world
leader in motion measurement analysis to thousands of customers worldwide,
including Guy's Hospital, Industrial Light & Magic, MIT and NASA.

 

The Group is headquartered in Oxford with offices in California, Colorado, and
Auckland. Since 2001, Oxford Metrics (LSE: OMG), has been a quoted company
listed on AIM, a market operated by the London Stock Exchange. For more
information about Oxford Metrics, visit www.oxfordmetrics.com
(http://www.oxfordmetrics.com)

 

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