Feedback (FDBK)

Sector:

Health Care

Index:

FTSE AIM All-Share

130.00p
   
  • Change Today:
    -10.00p
  • 52 Week High: 157.50
  • 52 Week Low: 58.00
  • Currency: UK Pounds
  • Shares Issued: 13.33m
  • Volume: 22,878
  • Market Cap: £17.34m
  • RiskGrade: 267

First-half losses widen as Feedback shifts focus

By Josh White

Date: Tuesday 18 Feb 2020

LONDON (ShareCast) - (Sharecast News) - Medical imaging technology company Feedback released its unaudited results for the six months ended 30 November, reporting a 14% improvement in recognised revenue to £0.27m.

The AIM-traded firm said its loss after tax for the period totalled £0.6m, widening from £0.37m, which the board put down to recruitment to service new opportunities and launch its flagship product, 'Bleepa'.

It reported increased investment in software development at £0.3m, up from £0.11m, and said its loss before interest, tax and amortisation widened to £0.68m from £0.4m year-on-year.

Cash as at 30 November stood at £1.53m, compared to £1.37m, following the equity fundraise in August, which raised £2m before expenses.

On the operational front, Feedback said the completion of its strategic review in the period drove focus on the Cadran portfolio, and it also highlighted the development and launch of its new flagship product, Bleepa.

It said the new app enabled clinicians to review medical grade images on devices, and allowed clinician-to-clinician communications, in a bid to enable "better and faster" treatment for patients.

The product was launched at the NHS Expo in September, to what the firm described as "strong interest" from clinicians and healthcare professionals.

It said the first pilot study was now underway with Pennine Acute Hospitals NHS Trust, with positive early indications that average time to inpatient referral had more than halved with Bleepa.

Feedback said it was "secure" and GDPR-compliant in terms of patient data.

The company said its 'TexRAD' product was still being sold within the research setting through third party distributors.

Post-period end, the firm completed a Cadran licence agreement with Imaging Engineering to support installation and refitting of modernised fluoroscopy equipment across the United States.

It also strengthened its board, with Rory Shaw becoming chairman as Alastair Riddell stepped down.

Also since the period ended, the company appointed Adam Denning, a former assistant technical advisor to Bill Gates, as a non-executive director.

"We have deliberately changed the company's strategy to focus on the Cadran portfolio and transition into the emerging mobile medical market; this strategy is already bearing fruit," said chief executive officer Tom Oakley.

"During the past six months, we completed the development of our new flagship product, Bleepa.

"Following its launch in September at the NHS Expo, we have received significant interest and entered our first pilot study within an NHS setting, from which early indications show great promise."

Dr Oakley said the company believed Bleepa had the potential to "revolutionise" the way clinicians were able to communicate with each other, and advance treatment of their patients quickly.

"Further evidence of the new strategy gaining traction is our first commercial contract of the Cadran platform outside of the NHS.

"With growing momentum and the strengthening of our board with the appointment of Adam Denning, 2020 is looking to be a promising year for Feedback."

At 1403 GMT, shares in Feedback were flat at 0.85p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Feedback Market Data

Currency UK Pounds
Share Price 130.00p
Change Today -10.00p
% Change -7.14 %
52 Week High 157.50
52 Week Low 58.00
Volume 22,878
Shares Issued 13.33m
Market Cap £17.34m
RiskGrade 267

Feedback Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
43.52% below the market average43.52% below the market average43.52% below the market average43.52% below the market average43.52% below the market average
18.75% above the sector average18.75% above the sector average18.75% above the sector average18.75% above the sector average18.75% above the sector average
Price Trend
52.69% above the market average52.69% above the market average52.69% above the market average52.69% above the market average52.69% above the market average
72.97% above the sector average72.97% above the sector average72.97% above the sector average72.97% above the sector average72.97% above the sector average
Income Not Available
Growth
49.40% above the market average49.40% above the market average49.40% above the market average49.40% above the market average49.40% above the market average
83.33% above the sector average83.33% above the sector average83.33% above the sector average83.33% above the sector average83.33% above the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Feedback Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
13:58 1,244 @ 134.00p
13:57 914 @ 129.87p
11:55 7,500 @ 136.00p
12:42 1,500 @ 125.50p
12:34 500 @ 132.00p

Feedback Key Personnel

CEO Tom Oakley
CFO Anesh Patel

Top of Page