Trading Update and Notice of Results

RNS Number : 6811T

Diaceutics PLC

26 July 2022

 

26 July 2022

Diaceutics PLC

("Diaceutics" or "the Company")

Trading update for the six months ended 30 June 2022

Notice of Results

Strong market momentum and DXRX platform adoption provides increased revenue visibility

Diaceutics PLC, (AIM: DXRX), a leading diagnostic commercialisation company which provides data, analytics and technology enabled services via its proprietary DXRX platform to the precision medicine market, announces the following unaudited trading update for the six months ended 30 June 2022.

The Company has enjoyed a positive start to the year, delivering H1 revenue and order book¹ growth in line with the Board's expectations.

Revenue growth was approximately 25% to £7.5 million   (H1 2021: £6.0 millio n, 18% on a constant currency basis) with more than 75% of revenues generated through the Company's DXRX platform, up from 60% for the year ended 31 December 2021 .

The DXRX platform-enabled products and services have continued to increase revenue quality and visibility and have resulted in a meaningful future multi-year order book for the first time. Diaceutics grew the order book at 30 June 2022 to around £10 million, up from £1.7 million at 31 December 2021, with around 37% of the order book expected to be realised in H2 2022 and the remaining in 2023 and beyond.

Cash and cash equivalents increased to £20.4 million (31 December 2021: £19.7 million) and the Company continues to be debt free.

Notice of Results

The Company intends to report unaudited results for the six months ended 30 June 2022 on 27 September 2022.

Peter Keeling, CEO and Founder of Diaceutics commented:

"I am pleased to report a positive start to 2022, with revenue and order book growth in line with expectations.  We are also seeing normal market conditions beginning to resume, and our continuing investment in our platform business model is allowing us to take advantage of the growing market opportunity and better assist our Pharma customers' shift towards precision medicine and technology enabled commercialisation.

We remain confident in our strategy and in our ability to secure future growth as we continue to hit our key milestones for platform network expansion and the introduction of innovative new products."

¹ Order book is the value of future contracted revenue not yet recognised

Enquiries:

Diaceutics PLC
Nick Roberts, Chief Financial Officer	Via Alma PR
Stifel Nicolaus Europe Limited (Nomad & Broker)	Tel: [phone]
Ben Maddison
Stewart Wallace
Nick Adams
Alma PR	Tel: [phone]
Caroline Forde	[e-mail]
Kieran Breheny
Matthew Young

About Diaceutics

At Diaceutics we believe that every patient should have access to the right treatment at the right time. We provide the world's leading pharmaceutical companies with an end-to-end solution for the launch of precision medicine diagnostics enabled by DXRX - The Diagnostic Network®. 

DXRX is the world's first diagnostic commercialisation platform for precision medicine, integrating multiple pipelines of real-world diagnostic testing data from a global network of laboratories.

Diaceutics' data capability is one of the three key value drivers it has integrated into its unique DXRX platform alongside its global Lab network and product suite tailored for Precision testing.

 

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