IXICO expects annual revenue to rise 28% to £8.3 million
Key Facts
IXICO said in its full-year update that it expects revenue for the financial year ended September 2026 to rise 28%, with a smaller loss than its current guidance despite increased investment in growth. The company estimated revenue at £8.3 million, compared with £6.5 million in the previous financial year, according to the official update. On earnings before interest, taxes, depreciation and amortisation, it expects to outperform its current guidance for a loss of £1.7 million. The forecast comes as the company continues to increase investment earmarked for growth, according to its full-year trading update. Cash at the end of September 2026 stood at about £10.4 million, compared with £3.5 million at the end of September 2025.
The company's interim results had shown revenue growth, an improvement in gross margin and a narrower loss in the first half of the 2026 financial year. Revenue for that period was £3.9 million, compared with £3.2 million in the first half of the 2025 financial year, according to the interim results statement. Revenue thus grew 23% year on year over the half-year, compared with the 28% growth the company expects for the full financial year. Gross margin rose to 53% in the first half of the 2026 financial year, compared with 50% in the corresponding period a year earlier. The EBITDA loss narrowed to £0.5 million from £0.7 million in the comparative period.
The chief executive attributed growth in the half-year business to new contracts signed by IXICO, according to the company's presentation on its performance for that period. Other factors cited included study extensions and accelerating Alzheimer's programmes in advanced stages of development. Describing the drivers of activity, the chief executive said growth benefited from "new contracts, study extensions and increasing momentum in late-stage Alzheimer's programmes". On contracted business, the company said its order book stood at £18.1 million at the end of March 2026, at the close of the first half of its financial year. IXICO defines this order book as signed customer contracts yet to be fulfilled, according to the definition in its interim results statement.
Alongside its study activity, IXICO announced in May 2026 the launch of version 10 of its "IXI" technology platform as part of the development of its tools for analysing neuroimaging data. The company said in its platform update that the new version improves data-processing speed and increases the volume of data the platform can process. The platform includes more than 30 analytical algorithms, according to the company's announcement on the development of the technology used in its business. Its biotechnology strategy includes making this technology available to external organisations, rather than restricting its use to work carried out directly by the company. IXICO identified licensing, technical integration and partnership models as routes for making the technology available to those organisations, according to the platform update.
On partnerships, IXICO announced a collaboration with Medidata to connect the "IXI" platform with Medidata's platform used in clinical trials, according to the statement on the agreement between the two parties. The connection aims to unify the customer experience in handling and analysing neuroimaging data during trials through integration between the two platforms. The company said the agreement was non-exclusive, under the arrangements it announced for its technical collaboration with Medidata in this field. Under the arrangement, IXICO continues to contract directly with biopharmaceutical customers alongside its collaboration with the technology partner. It also continues to seek other partnerships, according to the agreement statement, alongside its model of contracting directly with customers in the biopharmaceutical sector.
On the commercial side, IXICO appointed Tanya Voloshin as chief commercial officer, based in Boston, Massachusetts, in the United States, according to the appointment announcement. The company said the move aims to strengthen its commercial capabilities and expand its presence in the United States as part of its business development efforts. In its research activities, IXICO announced findings relating to the development of imaging tools used in Parkinson's disease research, based on research conducted by the company. That research showed that a magnetisation transfer gradient echo sequence provided better contrast between the substantia nigra and surrounding tissue, supporting the development of imaging tools for this field of research. IXICO plans to announce its audited annual results in December 2026, according to the timetable set out in its update for the financial year ended September.