We are pleased to announce our audited results for the 6 months to 30 November 2024.
Operational highlights
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Awarded £495k contract by Queen Victoria Hospital NHS Foundation Trust (“QVH”) to provide digital infrastructure.
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Awarded further funding to extend the delivery of its community diagnostic centre (“CDC”) pathway pilot at the Northern Care Alliance NHS Foundation Trust (“NCA”) site in Oldham
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New UK government providing political stability with a significant focus on the NHS and additional elective care appointments
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Commenced integration of Bleepa with key NHS referral systems to provide greater scalability
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Collaboration with Vertex In Healthcare (“Vertex”) broadens product functionality and strengthens global reach
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Bleepa approved for reimbursement through the Elective Recovery Fund (“ERF) for its Diagnostic Enhanced Advice and Guidance (“DEAG”) approach
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Partnership with Moorhouse Consulting as an implementation and sales partner, allowing faster roll out capability
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MOU signed with primary care solutions partner and NHS Trust to pilot a novel Neighbourhood Diagnostics Solution – aligned with government vision of a digital-first, community centric healthcare system
Financial highlights
- 3% increase in revenue to £449k (H1 2024: £437k), of which Bleepa contributed 90%
- 43% increase in sales to £589k (H1 2024: £411k)
- EBITDA loss decreased to £1,434k (H1 2024: £1,675k)
- Successful upscaled placing and subscription together with WRAP retail offer raised £6.1m gross proceeds (£5.6m net proceeds)
- Approximately £0.5m net proceeds was received shortly after period end
- Cash as at 30 November 2024 was £7,259k (30 November 2023: £5,372k, 31 May 2024: £3,878k)
Post period highlights
- Two revenue-generating projects operationalised in India:
- a pilot with a large Asian hospital group
- Tuberculosis (“TB”) screening programme with HEAL Foundation
- Continued alignment with government and NHS England (“NHSE”)
- Elective waiting lists identified as one of the government’s ‘six missions’
- New External Affairs department established within the Company
- Successful completion of Bleepa integrations with two NHS referral systems
- NHSE 2025/26 Priorities and Operational Planning Guidance published (January 2025) with an increase in elective recovery funding
- Multiple ongoing conversations with partners and potential partners around deploying Feedback’s services as part of a collaborative offering into the NHS
“We remain extremely excited by the wider market opportunity. 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.”
Dr Tom Oakley, CEO of Feedback
You can read our full results for the 6 months ended November 2024 here.