Invoiced sales for the six months to 30 November rose 22% from a year earlier to £271,000 (2017: £222,000).
Recognised revenue for the period rose 4% to £236,000 from £229,000 the year before. The difference between sales and revenue is due to the contract structures, which typically comprise installation costs, a contract for a year or more, followed by a 20% annual maintenance fee thereafter.
Primarily as a result of the higher cost base following the recruitment programme in 2018 and increased investment in software development, the loss before tax widened to £407,000 from £352,000 in the first half of the year before.
Investment in software development during the period was ramped up to £106,000 from £41,000 the year before.
The company ended the period with £1.37mln cash, up from £267,000 at the end of November 2017, following the company’s fundraising in October.
Feedback said international interest in its TexRAD quantitative analysis platform had continued throughout the first half of the fiscal year.
Commercial and technical discussions continue with Alliance Medical. Feedback is also in active discussions with other medical imaging software companies and service providers to partner with and integrate TexRAD Lung within their platforms and potentially sell within the UK and beyond.
As for Cadran, Feedback’s picture archiving and communication system, the company is focusing on its image archiving, retrieval, storage and anonymisation capabilities with several eminent clinical centres.
"We have seen positive progress across the business during this six-month period, building European sales as well as global sales in the US, South Korea and India,” said Dr Alastair Riddell, the executive chairman of Feedback.
“We have recruited to provide an additional resource in data science and to support Cadran and this month, we have strengthened our partnership with Future Processing. This will bring increased software development capabilities and improved functionality to our technology as well as access to specialist medical imaging and AI expertise,” he added.