Ixico raises expectations on new contract wins
Ixico
11.75p
16:55 20/12/24
Medical imaging advanced analytics technology company Ixico said in a trading update on Wednesday that it expected its financial performance to surpass market expectations, driven by new contract wins totaling £5.8m since 31 March.
FTSE AIM All-Share
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17:04 20/12/24
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17:14 20/12/24
The AIM-traded firm said that for the 12 months ending 30 September, it anticipated full-year revenue to be between £5.5m and £5.9m.
That reflected at least a 20% growth in revenue during the second half of the year, compared to the first half, which recorded £2.5m in revenue.
Despite a slight decline from the £6.7m revenue reported in 2023, the strong performance in the second-half was expected to boost overall financial results.
Additionally, the company's year-end order book was forecast to increase and return to prior year-end levels, recovering from £12.7m at the end of the first half to around £14.8m, following recent contract signings and extensions.
The positive developments were expected to improve Ixico's cash position and reduce its EBITDA loss compared to current market expectations, which projected £1.4m in cash and a £2.1m EBITDA loss.
“I am pleased with the progress made by the Company since the half-year, with new contracts signed underpinning revenue growth across the second half of the year,” said chief executive officer Giulio Cerroni.
“In parallel, we have continued to see a strengthening of our opportunities pipeline and whilst we maintain a very close eye on costs, we are doing so in a manner that avoids detriment to our core focus of delivering growth.”
At 1203 BST, shares in Ixico were up 33.33% at 9.5p.
Reporting by Josh White for Sharecast.com.