Feedback PLC (LON:FDBK) has reported a 23% rise in full-year revenues as its product lines continue to grow.
For the 12 months ended 31 May, the medical imaging specialist saw its revenue increase to £563,092 from £458,389, with 40% of turnover attributable to one customer.
WATCH: Feedback PLC 'very close to standing up some pilots' for its Bleepa app
The group's pre-tax loss widened slightly to £1.13mln from £750,000 due to changes in accounting practices and increased investments in staff as it gears up to deliver new products.
Looking ahead, Feedback said its new product, Bleepa, an encrypted and secure way for doctors to send images of X-ray and other scans to each other to aid diagnosis and treatment, had generated “considerable interest” following its launch in September and that it was already arranging demos for several potential customers.
Tom Oakley, Feedback’s chief executive pointed out that, following fundraisings of around £3.38mln over the year, the company is “well positioned” to build its capabilities and support the roll-out of Bleepa both in the UK and overseas.
"This has been a transformational year for Feedback and we believe that we have the technology and strategy to make a meaningful change in the medical imaging and communications market”, he said in a statement.
In mid-morning trading on Thursday, Feedback’s shares were 2% lower at 1.3p.