hVIVO enters 2024 with 90% of revenue guidance already contracted

hVIVO plc (LON:HVO), the world leader in testing infectious and respiratory disease products using human challenge clinical trials, has announced an unaudited trading update for the year ended 31 December 2023.

Highlights

Full year revenue of £56.0 million, an increase of 15.5% (2022: £48.5 million)
EBITDA margins of c.22% (2022: 18.7%)
Cash of £37.0 million as at 31 December 2023 (31 December 2022: £28.4m)
Weighted contracted orderbook of £80 million as at 31 December 2023 (31 December 2022: £76 million)
90% of 2024 revenue guidance already contracted and good visibility into 2025
Revenue guidance of £62 million for 2024
Move to new state-of-the-art facility in Canary Wharf on schedule to complete in H1 2024
Commencement of annual dividend payment in 2024
New medium-term target of growing Group revenue to £100m by 2028
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