RE: Spread19 Oct 2022 17:59
Financial Highlights
· Total revenue increased by 21% to £3.9m (H1 2021: £3.3m), including licensing revenue growth of 45% to £2.5m (H1 2021: £1.7m)
· Gross margin improved to 70.2% (H1 2021: 62.6%)
· Achieved adjusted positive EBITDA of £0.03m (H1 2021: loss of £1.0m)*
· Operating loss reduced to £0.2m (H1 2021: £1.9m)
· Cash and cash equivalents of £0.03m as at 30 June 2022 (H1 2021: £0.5m); as at 27 September 2022, cash and cash equivalents were £0.6m**
* Adjusted to exclude other adjusting items, amortisation, foreign exchange, depreciation and share-based payments (see note 5 to the financial statements)
** Including fundraising announced on 23 September 2022