Bleepa drives first-half growth for Feedback
By Josh White
Date: Tuesday 25 Feb 2025
(Sharecast News) - Feedback reported a 3% increase in revenue to £0.45m for the six months ended 30 November on Tuesday, with its flagship product, Bleepa, contributing 90% of that figure.
The AIM-traded firm said sales rose by 43% to £0.59m, while EBITDA losses narrowed to £1.43m from £1.68m a year earlier.
It also raised £6.1m through an upscaled placing and subscription, with net proceeds reaching £5.6m.
Cash reserves stood at £7.26m at the period's end, up from £3.88m last May.
Operational progress included a £0.5m contract with Queen Victoria Hospital NHS Foundation Trust for digital infrastructure, and further funding to extend a community diagnostic centre pilot at Northern Care Alliance NHS Foundation Trust.
Feedback said it had also started integrating Bleepa with key NHS referral systems to enhance scalability and broadened its global reach through a collaboration with Vertex In Healthcare.
The company signed a memorandum of understanding with an NHS Trust and a primary care solutions partner to trial a 'neighbourhood diagnostics solution', aligning with the government's vision for a digital-first, community-centric healthcare system.
Post-period developments included the launch of two revenue-generating projects in India - a pilot with a major Asian hospital group and a tuberculosis screening programme with HEAL Foundation.
Feedback also successfully completed Bleepa integrations with two NHS referral systems and established an external affairs department to align with the UK government's increased focus on elective care.
Discussions with partners were continuing as the company looked to expand its role within the NHS.
"We remain extremely excited by the wider market opportunity," said chief executive officer Dr Tom Oakley.
"We have a product base aligned with increased focus on digitisation and patient-centric models while our relationships and proven technology ensure that Feedback is positioned to scale up delivery.
"Market drivers and the top-down approach - led by government focus on reform, underpin our confidence.
"We have a growing pipeline of opportunities and routes to market, which we believe will drive meaningful revenues as we focus on conversion."
At 1315 GMT, shares in Feedback were down 3.84% at 17.55p.
Reporting by Josh White for Sharecast.com.
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