We have announced our audited results for the 12 months to 31 May 2026.
Operational highlights
- Queen Victoria Hospital NHS Foundation Trust (QVH) contract extended to end of December 2026 (annualised contract value £495k).
- Continued discussions at both a national level and local level with integrated care boards (ICBs).
- Further investment in Bleepa®’s functionality in response to user feedback, supporting multiple specialties and collaboration around a patient journey.
- Continued dialogue with established NHS implementation providers and organisations supporting service delivery to extend our market reach and secure the resources needed to support rollout.
- Bleepa was selected as the platform for the national Neighbourhood Health Simulation held in Manchester and the London simulation, showcasing its ability to support collaboration around a patient in a community setting.
- Continued integration of Bleepa with key NHS referral systems and Patients Know Best to provide greater scalability and end-to-end pathway management and patient communications.
Post year end
- The QVH contract was further extended to March 2027 to coincide with the NHS financial year.
- Additional project contribution of £249k by QVH to support Bleepa development.
- Launch of multiple new pathways with QVH in insomnia, teledermatology, and paediatrics, showcasing Bleepa as a pathway-agnostic platform capable of supporting multiple models of care, and building an increasing evidence base of the impact of Bleepa to support the wider national and regional discussions.
- Detailed discussions underway with one of the largest ICBs to explore a multi-year elective transformation plan alongside potential delivery service providers.
- NHS national contract decision expected ahead of April 2027 when a wider NHS England commissioning programme around clinical pathways and elective recovery is expected to start.
Financial highlights
- Revenue of £0.78m (2025: £0.89m).
- Sales were £0.94m (2025: £0.89m); Bleepa contributed 91%.
- EBITDA loss of £2.99m (2025: £3.06m).
- Operating loss before interest and tax of £3.24m (2025: £4.21m).
- Cash as at 31 May 2026 was £2.73m (31 May 2025: £5.95m).
- The directors have prepared the accounts on a going concern basis. However, additional contracts and/or fundraising are required to support liquidity through the going concern period of at least 12 months from signing the accounts, and there is a material uncertainty that may cast significant doubt on the Group’s ability to continue as a going concern.
- Cash runway remains tight and there are a wide range of outcomes. If no new contracts are signed, cash runway extends to the end of Q1 2027 owing to a quarterly rather than the expected annual renewal for QVH to bridge the gap with national and regional discussions.
- Management are working to extend the cash runway further through securing contracts to create more financial headroom and build Bleepa’s evidence base to support commercial discussions.
“We enter the new financial year with an expanding network of partners, an improved product platform, and growing market recognition of the need for Feedback’s solutions.
“Having faced delays to the NHS contract processing, we are seeing increasing potential for a broad commercial rollout of Bleepa with the sales pipeline more active than we’ve seen in years. There is increasing commercial engagement at the regional level, while discussions continue on the national contract opportunity. The recognition of our existing pathways and their demonstrable impact on key NHS metrics is driving new interest across all layers of the NHS.
“We have been preparing for this moment. The independently commissioned review of Bleepa at QVH has highlighted the significant positive impacts of its deployment across a growing number of pathways. We have invested in product development in response to customer feedback and have further integrated Bleepa with NHS referral systems allowing for greater scalability and easier rollout across ICBs. We have built partnerships focused on both go to market approaches and on delivering at scale. As a business we remain focused on maximising our cash resources and are carefully managing expenditure as we work towards converting ongoing commercial discussions.
“With a growing customer evidence base, and independent validation of our model, we believe that Feedback is increasingly well positioned to support healthcare organisations deliver a more efficient operating model.”
Chief Executive Officer at Feedback Medical
You can read our full results for the 12 months ended May 2026 here.