Ixico expects return to profitability as annual revenue set to rise

(Alliance News) - Ixico PLC on Thursday said it expects to post a rise in revenue for its current financial year, "solidifying its stated return to growth".

The London-based medical research firm which uses neuroscience imaging and biomarkers to analyse trial data said it expects to report revenue of at least GBP6.3 million for the year ending September 30, ahead of expectations.

This would be up at least 8.6% from the GBP5.8 million in revenue reported for financial 2024.

Ixico added that it expects this growth in revenue to continue into 2026, "moving the company towards medium-term profitability". The company reported a pretax loss of GBP2.2 million in financial 2024.

It expects to hold at least GBP3.0 million in cash by the end of September.

"The Innovate Lead Scale strategy outlined during our capital raise has begun to deliver results. The positive momentum is a result of a team approach, executing with discipline to grow revenues, expand market share and diversify the neurological therapeutic areas we operate in," said Chief Executive Officer Bram Goorden.

"In addition, we are rapidly advancing our technology platform offering with new differentiated biomarker analytics products and applications fit for scale. This activity strengthens my belief that we will continue to build upon this year's commercial success and the progress we are making towards profitability in the medium term."

The company will release its full-year results in December.

Shares in Ixico were up 15% at 11.20 pence in London on Thursday afternoon.

By Emily Parsons, Alliance News reporter

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