Diaceutics (DXRX) Trading Update summary

Financial performance

• Revenue grew 24% in H1 2024 to approximately £12.3 million, with 28% growth on a constant currency basis.

• Recurring revenue increased to 55% of total, up from 47% in H1 2023.

• Order book rose 16% year-on-year to £27.9 million, with £8.9 million to be realized in H2 2024, providing 71% visibility on FY 2024 consensus estimates.

• Annual Recurring Revenue (ARR) reached £14.2 million as of June 30, 2024.

• Cash position remained strong at £16.7 million as of June 30, 2024.

Operational highlights

• Worked with 63 individual customer brands in H1 2024, a 26% increase from H1 2023.

• Number of enterprise-wide customer engagements increased from four to six.

• Leveraged proprietary AI to enhance return on investment from data.

• Engaged with 17 of the top 20 global pharma companies.

• Enhanced DXRX platform technologies are delivering operational leverage.

Strategic outlook

• Accelerated investment strategy to scale for growth remains on track.

• Continued focus on expanding enterprise-wide engagements and commercialisation partnerships.

• Market opportunity is significant and growing, including expansion beyond pharma.

• Adjusted EBITDA and cash are in line with expectations.

• Anticipates 60% of full-year revenue and recurring revenue to be delivered in H2 2024.