Feedback PLC (AIM:FDBK) pleased investors with strong full year numbers which sent the share price up by 3.85%.
Revenues rose 105% to £0.59mln from £0.29mln, its highest ever reported revenue since becoming a medical imaging company in 2014, while sales soared 280% to £0.67mln with Bleepa contributing £0.26mln, up from £0.08mln in 2021.
Operating losses increased to £2.51mln from £2.06mln, but this reflected investment in the development and roll out of its mobile-based medical imaging product Bleepa.
Cash balances at May 31 were £10.31mln reflecting an oversubscribed placing and open offer which raised £11.20mln which will support accelerated revenue growth and product development.
Dr Tom Oakley, CEO of Feedback, said: "We are delighted with the progress made during the period, which was significantly ahead of previous market expectations and the strongest performance, in terms of revenue, since entering the medical imaging market in 2014."
Further progress has been made since the year end with Feedback awarded a £0.45mln contract for a 12-month pilot extension of the Sussex ICS CDC development programme and being named as a supplier on G-Cloud 13, the UK Government's digital marketplace.
Feedback also plans a share consolidation.