Announcement provided byDXS International plc · DXSP
DXS INTERNATIONAL PLC
Trading Update – May 2023
DXS International plc ("DXS" or the "Company"), the digital clinical decision support company, is pleased to provide shareholders with a trading update.
The company expects revenue for the year ending April 2023 to be £3.3 million, marginally up on April 2022, with a very small profit after tax.
With the NHS largely inaccessible from a sales and marketing perspective, the company has during the past three years used this time to pilot new sophisticated SaaS solutions. Based on feedback from the various pilots, the company has enhanced the solutions, gained additional NHS IM1 accreditation, attained MHRA certification (required for software classed as medical devices) and planned the sales and marketing strategy for the financial year ahead.
As the NHS recovery kicks in, the company has - as announced earlier today - raised £500,000 at a price of
• Leveraging off our existing 2,000 GP practices user base.
• Targeting new greenfield prospects with convertible free trial offers.
These initiatives will build on our current two key solutions, one existing with new SMART referral ability and the other our new Hypertension solution. With both these solutions demonstrating powerful Return on Investment (ROI) to both healthcare clinicians and the NHS, these sales initiatives are underpinned by compelling and measurable ROI.
In the next 11 months, we have the building blocks in place to potentially rapidly scale our annual revenue to £4.7m by April 2024, from £3.3m April 2023. We intend to achieve this via a combination of growing existing pharmaceutical income of £1.5 million by 8% p.a., and increasing our existing NHS revenue by 27% from £1.8m to £2.3m, of which we already have approximately 16% (which represents 60% of the increase) under discussion.
We intend to supplement this with additional revenue from our new hypertension medicine optimisation product, adding approximately £130,000 of new revenue from SMART Pathways, and generating new revenue of approximately £700,000 from the ExpertCare Hypertension solution. DXS has entered into an agreement with Deontics Limited to use its AI Technology to enable the growth in the revenue from NHS SMART Referral and SMART Pathways.
In addition, while not expected to be revenue generating within the next 12 months, we plan our entry into the
A copy of our latest investor presentation can be found on the Company website.
David Immelman, CEO of DXS International plc, commented:
“I am delighted with the continued support we have received from our shareholders, and to welcome new institutions including funds managed by Downing LLP in this latest fundraising. We are pleased to see sentiment changing within the NHS and to hear the positive feedback we have received on the various trials in clinics with our new products. Building blocks are in place to potentially rapidly scale our annual revenue to £4.7m by April 2024.”
The Directors of DXS International plc accept responsibility for this announcement
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "
|David Immelman (Chief Executive)|
DXS International plc
|City & Merchant |
|020 7101 7676|
Claire Louise Noyce
|020 3764 2341|
Note to Editors:
DXS International presents up to date treatment guidelines and recommendations, from Clinical Commissioning Groups and other trusted NHS sources, to doctors, nurses, and pharmacists in their workflow and during the patient consultation. This effective clinical decision support ultimately translates to improved healthcare outcomes delivered more cost effectively which should significantly contribute towards the NHS achieving its projected efficiency savings.