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Feedback plc Half Year Result

Feedback plc Half Year Result

Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the specialist medical imaging technology company, announces its unaudited half year results for the six months to 30 November 2018.

Operational highlights (including post period-end)

  • Feedback Medical sales momentum continues to grow with new TexRAD® sales into Czech Republic, Belgium, France, Italy, Portugal, India, US and South Korea during the first six months of FY 2019
     
  • New hires of a data scientist and product specialist for Cadran
     
  • Feedback Medical signed agreement in January 2019 with software development partner Future Processing to enhance Feedback Medical’s software development capability and to distribute relevant Future Processing imaging analysis products which:

                   -  reinforces Feedback’s software platform with improved clinical integration functionality; and

                   -  provides access to specialist medical imaging software developers and AI specialists

Financial summary

  • Invoiced sales for the first six months up 22% to £271k (H1 2018: £222k) due to the new sales progress
     
  • Recognised revenue for the six-month period up 4% to £236k (H1 2018: £228k)
     
  • Loss after tax for the six-month period of £369k (H1 2018: loss £348k) due to higher cost base following the recruitment programme in 2018
     
  • Increased investment in software development to £106k (H1 2018: £41k)
     
  • Loss before interest, tax and amortisation for the six-month period of £400k (H1 2018: loss £337k)
     
  • Cash at 30 November 2018 was £1.367m (30 November 2017: £267k) following the equity fundraise in November 2018, raising £1.375m before expenses


Dr Alastair Riddell, Executive Chairman of Feedback, commented:

“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. We have recruited to provide 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.

“Our fundraise in November 2018 positions us well to build on the operational progress already achieved and to continue to focus on our longer term goals of maximising the clinical opportunities for TexRAD® and new business opportunities for Cadran.”


About Feedback plc
Feedback plc (AIM: FDBK) is a specialist medical imaging technology company providing innovative software and systems, through its fully-owned trading subsidiary, Feedback Medical Limited. Its products advance the work of radiologists, clinicians and medical researchers by improving workflows and giving unique insights into diseases, particularly cancer. Feedback Medical works with customers globally from headquarters in the internationally renowned scientific hub of Cambridge, UK. Its proprietary technologies are TexRAD®, the quantitative texture analysis tool and Cadran, a picture archiving communication system (PACS). For more information, see www.fbk.com or connect with us via LinkedIn.


Issued for and on behalf of Feedback plc by Instinctif Partners.
For more information please contact: feedbackplc@instinctif.com

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