Trading Update

IXICO plc (AIM: IXI), the medical imaging advanced analytics company delivering insights in neuroscience, announces a trading update for the year ending 30 September 2024 ("FY24").

FY24 financial performance is expected to be ahead of market expectations following new contract wins worth £5.8 million in the period since 31 March 2024 (IXICO's half-year end).

• Full year FY24 revenue expected to be between £5.5 million and £5.9 million (2023: £6.7 million) reflecting growth of at least 20% in revenues across the second half of the year as compared to the first half (H1 2024: £2.5 million).
• Year-end order book expected to increase and return to prior year end levels (2023 FY: £14.8 million; H1 2024: £12.7 million) following the signing of contracts and contract extensions.

This expected increase in revenues and contract wins will improve cash and EBITDA performance as compared to the existing market expectations of £1.4 million cash and £2.1 million EBITDA loss respectively.

Giulio Cerroni, Chief Executive Officer of IXICO, commented: "I am pleased with the progress made by the Company since the half-year, with new contracts signed underpinning revenue growth across the second half of the year. In parallel, we have continued to see a strengthening of our opportunities pipeline and whilst we maintain a very close eye on costs, we are doing so in a manner that avoids detriment to our core focus of delivering growth."