Commenting on the results Steven Powell, Chief Executive Officer of Cambridge Cognition, said: “The first half has been characterised by the Company delivering against its promised strategy as evidenced by a strong sales performance. Our continued investment in R&D means that we remain at the forefront of innovation in digital health and neuroscience and have created platforms for further, future commercial growth.”
The neuroscience technology company Cambridge Cognition Holdings plc (LON: COG), which develops and markets digital solutions to assess brain health, announced its unaudited Interim Results for the six months ended 30 June 2018.
Strong sales performance and order pipeline entering second half
An encouraging first half performance with 13% like for like sales growth provides evidence that the investment made in the commercial operation is beginning to reap rewards.
Financial & Operational Highlights
· Like for like revenue +13% to £3.63m (H1 2017: £3.21m)
· Major contract win delivered in March 2018
· Ratio of Orders received to Revenue of 1.77
· Like for like loss before tax of £0.22m (H1 2017: £0.39m loss)
· Sales orders more than doubled to £4.87m (H1 2017: £2.13m)
– NeuroVocalix voice platform generating revenue with pharmaceutical partners
– Wearable technology increased +356% to £0.70m
– CANTAB Recruit increased by +335% to £0.39m
Financial results under new accounting standard IFRS 15 (see note 3 to interim financial statement)
· Reported revenue of £2.75m
· Reported loss before tax of £1.02m
· Loss per share of 5.0p
