Intelligent Ultrasound Group PLC Trading Update (0725Z)
08 Enero 2020 - 1:00AM
UK Regulatory
TIDMMED
RNS Number : 0725Z
Intelligent Ultrasound Group PLC
08 January 2020
Intelligent Ultrasound Group plc
("Intelligent Ultrasound" or the "Company" or the "Group")
Trading Update
Intelligent Ultrasound Group plc (AIM: MED), the ultrasound
artificial intelligence (AI) software and simulation company,
announces that Group revenue for the year to 31 December 2019,
which is currently generated entirely by the Group's Simulation
Division, is expected to grow by around 10% from the GBP5.3m
achieved in 2018 to between GBP5.7m and GBP5.9m. The Group is
pleased that the Division continued to show year on year growth and
the important agreement signed with FUJIFILM SonoSite Inc. in the
second half of the year, will help increase future sales in the
Division's point-of-care ultrasound (POCUS) training market.
The Group's pre-revenue Clinical Artificial Intelligence
Division had a very successful year, meeting all its commercial and
development milestones. By signing its first long-term licence and
co-development agreement in July 2019 with one of the world's
leading ultrasound equipment manufacturers for its AI-based
real-time ultrasound imaging software, the Group made a significant
advance in validating its commercial model. Following the
completion of the pre-regulatory development of AnatomyGuide, the
Division's latest AI-based real-time software product, commercial
discussions are now being progressed to bring AnatomyGuide to
market. To support future developments, the Division's AI image
database has been expanded so it now exceeds over four million
ultrasound images.
The EBITDA loss for the year is expected to be between GBP3.3m
and GBP3.4m (2018: loss, GBP2.7m). This includes approximately
GBP2.0m (2018: GBP1.3m) of primarily R&D costs attributable to
investment in the Group's Clinical Artificial Intelligence
Division. Group management, PLC costs and share-based payment
charges included in the loss are expected to be GBP1.0m (2018:
GBP0.9m).
GBP5.9m net of costs was received in August 2019 from the
successful placing and open offer. Cash in bank at 31 December 2019
was GBP7.3m (2018: GBP5.6m).
Stuart Gall, Group CEO, commented: "This has been a strong year
for the Group. The Clinical Artificial Intelligence Division has
performed particularly well, signing its first licensing agreement
with a major OEM and progressing commercial discussions for its
second AI software product. The reception the Company received at
the annual Radiological Society of North America meeting (RSNA) in
Chicago was also particularly encouraging. The Simulation Division
has worked hard to continue growing revenue and we are confident of
continuing the Group's revenue growth in 2020."
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
Intelligent Ultrasound Group plc www.intelligentultrasound.com
Stuart Gall, CEO Tel: +44 (0)29 2075 6534
Helen Jones, Group Finance Director
Cenkos Securities - Nominated Advisor Tel: +44 (0)20 7397 8900
and broker
Giles Balleny / Cameron MacRitchie (Corporate
Finance)
Michael Johnson / Julian Morse (Sales)
Walbrook PR Tel: +44 (0)20 7933 8780 or intelligentultrasound@walbrookpr.com
Anna Dunphy / Paul McManus Mob: +44 (0)7876 741 001 / Mob: +44
(0)7980 541 893
About Intelligent Ultrasound Group
Intelligent Ultrasound (AIM: MED) develops artificial
intelligence-based clinical image analysis software tools for the
diagnostic medical ultrasound market and hi-fidelity virtual
reality simulators for the ultrasound training market.
Based in Cardiff and Oxford in the UK, Atlanta in the US and
with representation in Beijing in Asia, the Group operates two
divisions:
Clinical AI Division
Focusses on developing deep learning-based algorithms to make
ultrasound machines smarter and more accessible. Products in
development include ScanNav which uses machine-learning based
algorithms to automatically identify and grade ultrasound images to
provide scan assessment and audit of protocol-based ultrasound
scanning; and AnatomyGuide, which aims to simplify
ultrasound-guided needling by providing the user with real-time
AI-based needle guidance software for a range of medical
procedures.
Simulation Division
Focusses on hi-fidelity ultrasound education and training
through simulation. Its three main products are the ScanTrainer
OBGYN training simulator, the HeartWorks echocardiography training
simulator and the BodyWorks Eve Point of Care and Emergency
Medicine training simulator. To date over 800 simulators have been
sold to almost 500 medical institutions around the world.
www.intelligentultrasound.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTFIFSILLITIII
(END) Dow Jones Newswires
January 08, 2020 02:00 ET (07:00 GMT)
Intelligent Ultrasound (LSE:IUG)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Intelligent Ultrasound (LSE:IUG)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024