Feedback hails Bleepa app despite widened annual loss; optimistic

Tue, 12th Sep 2023 12:11

(Alliance News) - Feedback PLC on Tuesday announced a widened annual loss as operating expenses were significantly higher.

The London-based specialist clinical communication company said in the financial year to May 31, pretax loss widened by 34% to GBP3.4 million from GBP2.5 million a year prior. Revenue rose 74% to GBP1.0 million from GBP588,576.

Operating expenses however increased 45% to GBP4.4 million from GBP3.0 million.

The company hailed ongoing discussions with local, regional and national NHS organisations as well as strategic partners. Further, it highlighted that it was successfully granted an import license for Bleepa as a registered medical device in India.

Bleepa is an app that connects clinicians and displays patient results, focused on achieving better and faster clinical decisions.

Looking ahead, Chief Executive Officer Tom Oakley said: "We are extremely excited by global opportunities - with inroads in India highlighting the scalability of our solutions. Importantly, we believe that increased regulatory demands both in the UK and India will further underpin demand. There is increasing focus on technologies to secure the transfer and display of images and videos, and we believe that the landscape is very much moving in our favour - with digital infrastructure and digitally enabled tools seen as key solutions to significant administrative burdens."

Feedback shares fell 11% to 77.50 pence each around midday on Tuesday in London.

By Tom Budszus, Alliance News reporter

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