Tekcapital PLC (LON:TEK) executive chairman Clifford Gross said continued investment remains the right policy for the intellectual property specialist.
Revenues rose to US$765,000 in the year to November 2016 from US$407,000, with the majority of sales coming from technology transfer services following the acquisition last year of Vortechs.
WATCH: Zak Mir on Tekcapital
Gross added he remains confident revenues will continue to rise from a combination of service offerings combined with licensing revenues from its IP portfolio.
“An increasing number of companies are making use of innovative ideas sourced exogenously, and with patented university and corporate technologies an increasingly valued currency, the market opportunity for the group is both large and should continue to grow apace."
Over the year, he said the company had invested heavily in med-tech subsidiary Belluscura, which meant losses rising to US$2.56mln (US$1.46mln).
The company also acquired the patent for a low-sodium salt replacement to add to its Crackle-baked fat free baking process with out-source negotiations underway for both said TekCapital.
Shares were 36p.