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Deepverge PLC (DVRG)


Monday 11 January, 2021

Deepverge PLC

DVRG confirms maiden Q4 profit;guides £10m in 2021

RNS Number : 1360L
Deepverge PLC
11 January 2021

11 January 2021


DeepVerge PLC


("DeepVerge" or "the Company")



Trading Update


DeepVerge confirms maiden EBITDA profitable quarter


Unaudited 2020 revenue increases in excess of 300% to £4.4m with 2021 guidance of £10m


New business structure offers significant opportunities for growth



DeepVerge (LSE:DVRG.L), the environmental and life science AI company, today announces a post-year end trading update and outlook for 2021.


· Unaudited 2020 revenues for the Company are £4.4m (2019: £1.017m - audited)

Aggregate unaudited revenues increased to £6.1m, (includes £1.7m relating to Modern Water in the pre-acquisition period to 9 November 2020) 

Strong sales in Q4 delivers first EBITDA profitable quarter (excluding exceptional costs associated with the acquisition of Modern Water)

· £10 million revenue guidance for 2021

In addition, several large projects, including two multi-million pound opportunities due for decision in 2021 have the potential to drive higher growth

· £2.97m cash and debt available at year end (unaudited)

£1.47m cash and cash equivalents at 31st December 2020

£1.5m flexible loan facility available to be drawn

· Completion of Modern Water acquisition in November 2020 has allowed backlog of orders to be fulfilled

· Acceleration of order books in last quarter from new Labskin Services

· Significant increase in opportunities to grow through core Environmental Health and Life sciences divisions:

Personalised consumer skin microbiome profile service in Beta test. Updates to follow

MicrotoxPD equipment, integrated with AI and pathogen detection systems being deployed in multiple jurisdictions with data aggregated for real-time detection in wastewater growing

Microtox BT breath test field trials continue across the EU. Further updates will be provided later in this quarter


Gerard Brandon, CEO of DeepVerge, comments:

"Despite COVID19, DeepVerge has had yet another strong year of 300%+ revenue growth, topped off with our first profitable quarter. The Group's business has evolved into two distinct but inter-linked business divisions, Labskin's life science offering and, following the acquisition of Modern Water in November 2020, a world leading environmental health solution, underpinned by our AI as a service expertise.  The newly combined global footprint has extended Labskin's reach into the US, China and Japan, directly next to many of our largest clients. Group sales, including recurring revenues, look set to continue strong growth as our order book of existing and new clients expands across the US, Asia and Europe."  

For further information please contact:


DeepVerge plc

Gerard Brandon, CEO


+44 (0) 7340 055 648

SPARK Advisory Partners Limited

(Nominated Adviser)


Neil Baldwin/Andrew Emmott

+44 (0) 113 370 8974

Turner Pope Investments (TPI) Limited (Broker)

Andy Thacker/Zoe Alexander

+44 (0) 20 3657 0050


About DeepVerge plc (

DeepVerge is an environmental and life science group of companies that develops and applies AI and IoT technology to analytical instruments for the analysis and identification of bacteria, virus and toxins. Utilising artificial intelligent data analytics to scientifically prove the impact of skincare product claims on skin microbiome for most of the top 20 global cosmetic company clients and remotely detect and identify in real-time, dangerous pathogens in wastewater treatment plants, drinking water, rivers, lakes and reservoirs.


Labskin (Life Science Division)

Labskin have been pioneering the development of a laboratory grown human skin platform for more than 13 years and is the only commercially available lab-grown full thickness human skin model that naturally mimic the skins' microbiome. With top 20 global consumer health and skincare clients, thousands of industry tests, the good and bad bacteria that naturally exists on human skin is present on Labskin when testing skin care, cosmetics, health care, drug delivery or wound care products. The Labskin test platform and protocols help clients maintain an optimum real-world environment, when testing their new ingredients and existing products, that shows the positive or negative impact on skin's natural microflora.


Modern Water (Environmental Health Division)

Modern Water is a pioneering and innovative technology subsidiary, and over a 30 year period, with installations in more than 60 countries, this division has built core expertise in the development of analytical instruments and technology for monitoring toxicity in water, soil, food and industry. The core systems use bioluminescent bacteria to perform biosensor testing that detects the presence of toxic substances.


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