IXICO plc Trading Update for year ended 30 September 2020
RNS Number : 3815C
19 October 2020
("IXICO" or the "Company")
Trading Update for year ended 30 September 2020
Data analytics service strategy drives growth
Remote access, technology-driven, business model demonstrates
resilience during COVID-19
Order book growth underpins strong forward revenue
IXICO plc (AIM: IXI), the AI data analytics company delivering
insights in neuroscience, announces a trading update for the year
ended 30 September 2020.
-- Full year revenue increased by 26% to GBP9.5 million (2019:
GBP7.6 million). A fourth successive year of greater than 25%
-- Year-end order book increased by 36% to GBP21.7 million
(2019: GBP15.9 million). Strong revenue visibility for 2021 and
-- Year-end cash at 30 September 2020 of GBP7.9 million, an
increase of 9% year on year (2019: GBP7.3 million). The Company
continues to be debt-free.
-- Earnings before interest, tax, depreciation, and amortisation
('EBITDA') have more than doubled to achieve at least market
expectations of GBP1.1 million (2019: GBP0.5 million).
These excellent results demonstrate the underlying resilience of
IXICO's technology and are achieved despite the COVID-19 pandemic,
which continues to disrupt clinical trials and reduce the number of
new clinical trials being initiated.
Despite this uncertainty in the clinical trials market, the
Company confirms its outlook for the 2021 financial year,
reflecting its strong order book of future revenues and robust
The Company intends to announce its audited results for the year
ended 30 September 2020 in early December 2020.
Giulio Cerroni, Chief Executive Officer of IXICO, commented: "
IXICO has delivered exceptional progress both operationally and
financially during 2020 as we continue to demonstrate our ability
to drive sustained growth through a clear focus on our service
"We have responded robustly to the challenges of the COVID-19
pandemic, continuing our track record of strong growth. The
commercial momentum established in recent years reflects our
ability to scale our remote working model and leverage the
resilience of our technology to support the global clinical trials
market . Despite the ongoing uncertainties of the COVID-19
pandemic, which will continue to impact us across 2021, we will
continue to invest for medium to long term profitable growth."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 (MAR)
For further information please contact:
+44 (0) 20 3763
IXICO plc 7498
Giulio Cerroni, Chief Executive Officer
Grant Nash, Chief Financial Officer
Cenkos Securities PLC (Nominated adviser and sole +44 (0) 20 7397
Giles Balleny / Max Gould (Corporate
Michael F Johnson / Russell Kerr (Sales)
Walbrook PR Ltd Tel: 020 7933 8780 or IXICO@walbrookpr.com
Paul McManus / Lianne Cawthorne /
IXICO is dedicated to delivering insights in neuroscience. Our
mission is to transform the progression of our biopharmaceutical
clients' neurological therapeutic pipelines through the application
of novel imaging and digital biomarkers.
IXICO's data analytics services are used by the global
biopharmaceutical industry to interpret data from brain scans and
digital biosensors to enable better trial design, site
qualification, patient selection and clinical outcomes. We provide
technology-enabled services across all phases of clinical
evaluation. Our integrated digital platform provides a scalable and
secure infrastructure for the capture and analysis of regulatory
compliant clinical data to enable clients to make rapid, better
informed decisions. IXICO is also collaborating with partners to
develop new analytical techniques and companion digital health
products targeted at improving patient outcomes.
More information is available on www.IXICO.com and follow us on Twitter @IxicOplc
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 firstname.lastname@example.org or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
(END) Dow Jones Newswires
October 19, 2020 02:00 ET (06:00 GMT)