ANGLE reported FY24 revenues of £2.9m (+31%, FY23: £2.2m), with a gross margin of 62% (H124: 59%; FY23: 70%) reflecting the product-service mix, and provision of some introductory pricing to pharma customers. Implementation of cost reduction initiatives reduced operating expenses to £16.9m (-27%, FY23: £23.3m), and narrowed net loss to £14.2m (-29%, FY23: £20.1m). End-December 2024 cash was £10.4m (end-June 2024: £17.9m; end-December 2023: £16.2m) with £2.3m of R&D tax credits due (£1.4m received January 2025, with the £0.9m balance expected during Q325). This provides a cash runway into Q126.
ANGLE: Trinity Delta
May 28, 2025Disclaimer & Declaration of Interest
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