Feedback plc reports sales rise and confirms agreement with Future Processing
Medical imaging technology company Feedback has reporting a 22 per cent rise in sales for the six months to the end of November 2018.
The Bourn-based company, which sells software for researchers, clinicians and radiologists through its subsidiary Feedback Medical, says it is achieving continuing sales momentum with new sales of its TexRAD product into Czech Republic, Belgium, France, Italy, Portugal, India, US and South Korea in the period.
Unaudited results show sales up to £271,000 for the period, with revenue up four per cent to £236,000.
But it made a loss after tax of £369,000 due to a higher cost base following a recruitment campaign..
It has upped investment in its software development to £106,000 and in November it raised £1.375million in a equity fundraising round.
In January, the company signed an agreement with software development partner Future Processing to enhance its capabilities and to distribute relevant Future Processing imaging analysis products.
Executive chairman Dr Alastair Riddell said: “We have seen positive progress across the business during this six-month period, building European sales as well as global sales in the US, South Korea and India.
“We have recruited to provide additional resource in data science and to support Cadran and this month, we have strengthened our partnership with Future Processing. This will bring increased software development capabilities and improved functionality to our technology as well as access to specialist medical imaging and AI expertise.
“Our fundraise in November 2018 positions us well to build on the operational progress already achieved and to continue to focus on our longer term goals of maximising the clinical opportunities for TexRAD® and new business opportunities for Cadran.”