Inspiration Healthcare Group (IHC) Trading Update summary

Financial performance and trading update

• Revenue for the six months ended 31 July 2024 was £17.0 million, meeting management expectations.

• Neonatal product revenue reached £12.0 million, including growth from the US-based Airon Corporation acquired in January 2024.

• Infusion Therapies product revenue grew 16% to £5.0 million, supported by strong UK demand and a new remote monitoring pump launch.

• Gross margin is expected to decrease to approximately 44.5% due to a higher proportion of lower margin product sales.

• Net debt stood at £6.7 million at 31 July 2024, improved by a £3.0 million oversubscribed fundraise and reduced working capital outflows.

Operational highlights and strategic focus

• Secured the largest single order for SLE6000 ventilators, with a $4.3 million contract to be recognized in H2.

• Focused on revenue growth, profit increase, and working capital improvement.

• Infusion and Airon businesses are performing well, while efforts continue to drive sales in the core Neonatal segment.

• Plans underway to boost recurring revenue from services and consumables and to streamline operations for efficiency.

• Positioned for growth in H2 2024 and aiming for long-term sustainable performance.

Upcoming events and investor engagement

• Interim results for the six months ended 31 July 2024 will be announced on 2 October 2024.

• A live investor presentation is scheduled for 7 October 2024 via the Investor Meet Company platform.

• The presentation will provide an update and overview of interim results, with opportunities for Q&A.