We are pleased to announce our unaudited results for the six months to 30 November 2025.
Operational highlights and developments
- Bleepa’s proven, highly scalable model strongly positioned to fulfil NHS productivity requirements
- A national business case for Bleepa was submitted as part of the Spending Review in the Spring – outcome pending
- Integrations into eRS, PDS and GP Connect were completed (and implemented post period) – positioning Feedback for national scale
- NSS pathway went live on Bleepa in the Sussex Integrated Care System, second at scale pathway – proving Bleepa can also run cancer pathways
- Strategic partnerships in late stage discussion ahead of at scale roll out including consulting firms for implementation, cloud providers and technology partners with supporting propositions
- Bleepa was selected to run the UK’s two simulations of the new neighbourhood health service – proving Bleepa can also run new care models
Financial highlights
- Revenue remains stable at £0.41m (H1 2025: £0.45m), of which Bleepa contributed 89%
- EBITDA(1) loss increased to £1.61m (H1 2025: £1.43m), driven by new support team hires to deliver customer roll outs and technology costs associated with delivering our cloud solution.
- Cash as at 30 November 2025 was £3.82m (30 Nov 2024: £7.26m, 31 May 2025: £5.95m), largely reflecting the higher costs above and our continued investment in our product. Sufficient runway through to mid-2027
- The Company remains in a stable financial position and has been laying the groundwork ready to scale in 2026/27
Post period highlights
- Continued engagement with the NHS at all levels (national, integrated care board and trust)
- Increasing dialogue with larger partners to the NHS around deploying Bleepa in their offerings
- Over the period, all of our existing clients have renewed their contracts and Queen Victoria Hospital NHS Foundation Trust in particular is focussed on building out more pathways
- New CFO appointed on 10 November 2025, and formally appointed to the board on 16 February 2026
“The NHS 10 Year Plan and its stated direction of travel are closely aligned with the solutions provided by Feedback Medical. Funding committed through the NHS Spending Review is expected to flow to frontline services for the upcoming 2026/27 NHS year. This combined with increasing recognition of the role of technology in healthcare and the need for material productivity improvements across the system has the potential to support a new phase of commercial progress for Feedback.”
Chief Executive Officer
You can read our full results for the 6 months ended November 2025 here.
Note (1): “Adjusted EBITDA Loss” is a non-IFRS metric being EBITDA less share-based payment charges.