IXICO plc – Half Yearly Report to 31 March 2019

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.

Highlights

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.

Financial                                                                                 

·    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’.

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