hVIVO PLC (AIM:HVO) chief executive Yamin (Mo) Khan takes Proactive's Stephen Gunnion through the company's first-half trading update for 2024, which shows record revenue and EBITDA margin. Khan attributed this success to the dedicated team at hVIVO, highlighting a revenue recognition of £35.6 million, a 31% year-on-year increase.
Khan detailed how hVIVO has been able to conduct multiple trials simultaneously, utilising three different facilities, including its new state-of-the-art facility in Canary Wharf. This move has allowed hVIVO to accelerate projects and improve margins. He also mentioned the company's strong weighted contracted order book, valued at £71 million, ensuring visibility into 2025.
Khan reaffirmed hVIVO's 2024 guidance, targeting revenue of £62 million and an upper-end EBITDA margin as projected by analysts.
The new facilities are expected to diversify and expand hVIVO's service offerings, including standalone lab work and field trials. Khan also discussed the largest field study contract to date, aiming to vaccinate up to 1,000 healthy volunteers.