Ilika PLC (AIM:IKA, OTCQX:ILIKF) said trading in its financial year ended 30 April 2024 was in line with market expectations, with more cash in the bank than expected.
The solid-state battery developer released the update ahead of today's Capital Markets Day (CMD) event for analysts and investors.
Revenue of approximately £2 million was generated in the almost-completed year, which reflects a material increase in grant funding received in the first half of the year that was not expected to be repeated in the second.
Cash and cash equivalents are expected to end the year at £11 million, higher than expected due to cost reduction activity resulting from the Cirtec contract and technology transfer activity.
The CMD, which will be hosted by CEO Graeme Purdy and finance chief Jason Stewart will cover Ilika’s product portfolio, recent progress, financials and outlook, with commentary on market trends and the broader opportunity for its solid-state batteries.
As well as other members of the management team, there will also be clients, collaborators and external speakers discussing the solid-state battery space.
The presentation from the event will be made available for investors on the Ilika website this afternoon, and after the event a video will be shared there too. Investors will be able to send questions in advance of the event and on the day via the IMC platform.