Diaceutics, a leading technology and solutions provider to pharma and biotech companies, has announced its unaudited results for the half-year ended 30 June which reveals continued performance and growth.
Key highlights of the announcement include a report of 24 per cent revenue growth with 28 per cent on a constant currency basis.
The record order book of £27.9m provides good visibility on full year revenue; with 55 per cent of revenues recurring, with the company on track to achieve 70 per cent in 2025.
Diaceutics also successfully launched PMx and secured first commercial contract as a promotional partner with a leading biotech for the launch of a breakthrough oncology precision medicine in the US.
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The Belfast-based company, based at Kings Hall Health and Wellbeing Park, was part of a two-year accelerated investment phase nearing completion – forecast shift to profitability and cash flow generation from 2025.
The rapid expansion of the precision medicine market offers significant opportunities for Diaceutics.
Ryan Keeling, Diaceutics' Chief Executive Officer, commented: "As we approach the end of our two-year accelerated investment plan, we are seeing tangible results being delivered. We are now working with more customers, across more brands and generating increased revenue per brand.
"We are constantly growing our data gathering capabilities and improving the efficacy of the DXRX platform through the use of AI, and can now provide our customers with the critical data insights they need within 24 hours which is hugely valuable to their efforts to identify patients in need. We are very excited by the recent launch of PMx which enables us to offer a full promotional solution for customers and also allows us to retain a greater share of the value we create.
"Given our strong performance in the first half, we remain confident in our full year revenue target and our ability to deliver profitability and cash flow generation from 2025.”
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