IXICO (AIM:IXI) says revenue for the six months to 31 March is expected to be £3.9m, up 23% from £3.2m a year earlier, driven by new contract wins, extensions and higher volumes of biomarker analyses. Gross margin is forecast to rise to 53% (H1 2025: 50%) and loss before interest, tax, depreciation and amortisation is expected to narrow to £0.5m (H1 2025: £0.7m loss) as revenue gains are partly offset by the full-year impact of investments in its Innovate, Lead, Scale strategy.
The group says the signed order book stands at £18.1m — up 38% on 31 March 2025 (H1 2025: £13.1m) and 31% on 30 September (FY 2025: £13.8m) — giving what management describes as "good visibility of future revenues." It also noted cash at the period end stood at £1.7m (H1 2025: £5m); the group completed a £10m capital raise on 31 March (£9.4m net of costs) to support its Tech Bio strategy and wider commercial partnerships for the IXI™ platform.
"The first half of the 2026 financial year saw strong continued revenue growth driven by new contract wins and extensions, and increased biomarker analysis activity. This momentum, combined with improved operational leverage, has delivered an increase in gross margin while our order book has also grown significantly, providing good visibility of future revenues. While we continue to invest for growth, we have reduced our EBITDA loss year-on-year, demonstrating progress towards profitability. I am also very excited about the recently announced capital raise which aims at deriving increased value from our IXITMplatform as a premium technology," Bram Goorden, CEO, said.
Interim results are slated to be released on 19 May.
