Trading update for the financial year ending 30 September 2018
Accelerated revenue growth from new commercial contracts
IXICO plc (AIM: IXI), the data science company delivering insights in neuroscience, today provides an update on the outlook for the Company’s trading performance for the financial year ending 30 September 2018, which is now expected to be ahead of market expectations.
Based upon management results for the 10 months to 31 July 2018, reported revenue for the full year to 30 September 2018 is expected to be at least £5.1m. This represents an increase of 24% over the prior year’s reported revenue of £4.1m and reflects previously announced contract wins. The Board expects that this will result in a reduced operating loss for the year.
The Company remains confident of meeting market expectations for the financial year ending 30 September 2019 as it continues to invest in its commercially led growth strategy on the path to profitability.
A pre-close trading statement will be released on 16 October 2018.
Giulio Cerroni, CEO of IXICO, said: “We continue to benefit from increased demand for our specialist data analytics services from the global biopharmaceutical industry. This strong trading performance highlights ongoing progress in our mission to better serve our clients and the dedication of our staff to deliver valuable insights in neuroscience.”
For further information please contact:
Giulio Cerroni, Chief Executive Officer
Susan Lowther, Chief Financial Officer
Tel: +44 20 3763 7499
Shore Capital (Nomad and Broker)
Edward Mansfield / Anita Ghanekar / Daniel Bush
Tel: +44 20 7408 4090
FTI Consulting Limited (Investor Relations)
Simon Conway/Mo Noonan
Tel: +44 20 3727 1000
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).
IXICO is dedicated to delivering insights in neuroscience. Our mission is to transform the progression of our clients’ neurodegenerative therapeutic pipeline through the application of novel medical imaging and mobile health digital technologies.
IXICO’s specialist data analytics services are used by the global pharmaceutical industry to interpret brain scan data and digital biomarkers to enable better trial design, site qualification, patient selection and clinical outcomes. We provide technology-enabled services across all phases of clinical trial process 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.