Revenue and EBITDA for full year 2019 expected to be ahead of market expectations
IXICO plc (AIM: IXI), the data analytics company delivering insights in neuroscience, is pleased to announce that the Company has continued to see strong growth in revenue in the second half of the year. Growth has been accelerated by new and expanded contracts coming on line, deployment of newly developed algorithms and faster turnaround times in trial initiation. The Company is further able to confirm that it anticipates this improved revenue performance will drive additional operating leverage and the Board expects to build on the breakeven position reported at the half year.
Given the performance in the period to date, the Board anticipates that the results for the full year ending 30 September 2019 will be materially ahead of current market expectations.
Giulio Cerroni, Chief Executive Officer of IXICO, commented: "We are delighted to see continued momentum in our revenue growth, establishing 2019 as an inflexion point in the Company's progress. This is a fantastic achievement which reflects the Company's ability to support and grow with the increasing demand for our high quality neurological imaging and data analytics services."
For further information please contact:
+44 (0) 20 3763 7498
Giulio Cerroni, Chief Executive Officer
Grant Nash, Chief Financial Officer
Cenkos Securities PLC (Nominated adviser and sole broker)
+44 (0) 20 7397 8900
Giles Balleny / Max Gould (Corporate Finance)
Michael F Johnson / Russell Kerr (Sales)
Optimum Strategic Communications
+44 (0) 203 950 9144
Mary Clark / Anne Marieke Ezendam / Supriya Mathur
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.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).
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IXICO PLC (LON:IXI) CFO Grant Nash says the firm's performance for the current year will be materially ahead of market expectations - benefitting from new and expanded contracts, the deployment of newly-developed algorithms and faster turnaround times in trial initiation.
Nash, who was...