IXICO plc (AIM: IXI), the data analytics company delivering insights in neuroscience, today announces its unaudited interim results for the six months ended 31 March 2019.
Commercial and Operational
· £5.2M new and expanded contracts won across H1 2019.
· Strong contracted order book of £21.2M* as at 31 March 2019.
· Broadened expertise in neurological disease areas and diversification of biopharmaceutical clients.
· Chosen as partner for King’s College London’s UK Government-funded Medical Imaging & Artificial Intelligence Centre.
· Revenue of £3.4M; 22% increase on prior period (H1 2018: £2.8M**).
· Revenue excluding foreign exchange of £3.3M*; 21% increase on prior period (H1 2018: £2.7M**).
· Gross margin expanded by +610 bps** over H1 2018 to 66.3%.
· EBITDA of £0.1M driven by strong operational leverage at gross margin level (H1 2018: negative £0.4M**).
· Operating profit of £0.1M (H1 2018: loss of £0.5M**).
· Profit per share of 0.5p (H1 2018: negative 1.5p**).
· Closing cash of £7.5M.
*Calculated using the fixed foreign exchange at the time of contract signing for each individual multi-year contract.
**Adjusted to reflect the adoption of IFRS 15 ‘Revenue from Contracts with Customers’.