Feedback PLC (AIM:FDBK) boss Dr Tom Oakley said the company remains "extremely excited by the wider market opportunity" as it reported an increase in revenues and trimmed its losses in the first half of its financial year.
The core Bleepa product, an app for clinicians, contributed 90% of revenue in the six months ending 31 November, with the top line rising 3% to £449,000.
Sales, a measure that reflected total customer contract value invoiced in the period, jumped 43% to £589,000, while EBITDA losses narrowed to £1.43 million from £1.67 million in the prior period.
Cash reserves stood at £7.26 million, bolstered by a £6.10 million fundraising just before the half-year stage.
Operational highlights included the Bleepa platform being approved for reimbursement under the NHS Elective Recovery Fund (ERF), positioning it for expanded deployment.
Feedback also secured a £495,000 contract with Queen Victoria Hospital NHS Foundation Trust for digital infrastructure; receiving additional funding to extend its community diagnostic centre pathway pilot in Oldham; and signing a memorandum of understanding for a neighbourhood diagnostics solution pilot in collaboration with an NHS Trust and a primary care partner.
Post-period, the company operationalised two revenue-generating projects in India, including a pilot with a large hospital group and a tuberculosis screening initiative with the HEAL Foundation.
Bleepa integrations were completed with two NHS referral systems, aligning with NHS England’s increased focus on elective care and digital transformation.
Oakley said: "We remain extremely excited by the wider market opportunity. We have a product base aligned with increased focus on digitisation and patient-centric models while our relationships and proven technology ensure that Feedback is positioned to scale up delivery. Market drivers and the top-down approach - led by Government focus on reform, underpin our confidence.
"We have a growing pipeline of opportunities and routes to market, which we believe will drive meaningful revenues as we focus on conversion."