Trading Update: Profitability for full year 2020 expected to be ahead of market expectations

IXICO plc (AIM: IXI), the data analytics company delivering insights in neuroscience, announces that, despite COVID-19, it is achieving stronger than anticipated growth across the second half of the year.  The Company is benefiting from continued operational leverage, generated by revenue growth and investments made to drive scale and efficiency.   

Given the performance in the period to date, the Board expects revenues for the full year to 30 September 2020 to be in line with, or slightly ahead of, current market expectations, representing growth of more than 20% compared to the prior year.  Further, the Board anticipates that earnings before interest, tax, depreciation, and amortisation (EBITDA) will be materially ahead of current market expectations.

This enhancement of financial performance expectations for FY20 further underpins the Company's confidence in its ability to invest to deliver further profitable medium and long-term growth.

As previously announced, IXICO will be presenting on Tuesday 25 August at 1.30pm. The presentation will be hosted through the digital platform Investor Meet Company. Investors can sign up to Investor Meet Company for free and add to meet IXICO plc via the following link: https://www.investormeetcompany.com/ixico-plc/register-investor.

Giulio Cerroni, Chief Executive Officer of IXICO, commented: "We are delighted to see continued momentum in the accessing of revenue driven operational leverage, building on the Company's maiden year of profitability in 2019 and strong first half year results to 31 March 2020.  In the context of the challenging market environment created by Covid-19, this increase in profitable growth, alongside our strong balance sheet and positive operating cashflows, whilst remaining fully committed to our investment plans, is a fantastic achievement." 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR)

For further information please contact:

IXICO plc

+44 (0)20 3763 7498

Giulio Cerroni, Chief Executive Officer

Grant Nash, Chief Financial Officer

 

Cenkos Securities PLC (Nominated adviser and sole broker)

+44 (0)20 7397 8900

Giles Balleny / Max Gould (Corporate Finance)

 

Michael F Johnson / Russell Kerr (Sales)

 

Walbrook PR Ltd

Tel: 020 7933 8780 or IXICO@walbrookpr.com

Paul McManus / Lianne Cawthorne /

Mob: 07980 541 893 / 07584 391 303 /

Alice Woodings

07407 804 654

About IXICO

IXICO is dedicated to delivering insights in neuroscience. Our mission is to transform the progression of our biopharmaceutical clients' neurological therapeutic pipelines through the application of novel imaging and digital biomarkers.

IXICO's data analytics services are used by the global biopharmaceutical industry to interpret data from brain scans and digital biosensors to enable better trial design, site qualification, patient selection and clinical outcomes. We provide technology-enabled services across all phases of clinical evaluation. Our integrated digital platform provides a scalable and secure infrastructure for the capture and analysis of regulatory compliant clinical data to enable clients to make rapid, better informed decisions. IXICO is also collaborating with partners to develop new analytical techniques and companion digital health products targeted at improving patient outcomes.

More information is available on www.IXICO.com


Date: 24/08/2020