Diaceutics PLC
LSE:DXRX
Diaceutics PLC
Diaceutics Plc engages in the provision of data, data analytics and implementation services. The company is headquartered in Belfast, Northern Ireland. The company went IPO on 2019-03-21. The principal activity of the Company is data analytics and implementation services. The firm is engaged in research and development activities in drug development science, testing data and software platform development. The firm's implementation services include test standardization, test quality assessment, laboratory tech support and others. The firm has established a range of products and outsourced advisory services, which help its pharma clients to optimize and deliver their marketing and implementation strategies for companion diagnostics. The firm provides the pharmaceutical companies with an end-to-end solution for the launch of precision medicine diagnostics enabled by DXRX - The Diagnostic Network. DXRX is the diagnostic commercialization platform for precision medicine, integrating multiple pipelines of diagnostic testing data from a global network of laboratories.
Diaceutics Plc engages in the provision of data, data analytics and implementation services. The company is headquartered in Belfast, Northern Ireland. The company went IPO on 2019-03-21. The principal activity of the Company is data analytics and implementation services. The firm is engaged in research and development activities in drug development science, testing data and software platform development. The firm's implementation services include test standardization, test quality assessment, laboratory tech support and others. The firm has established a range of products and outsourced advisory services, which help its pharma clients to optimize and deliver their marketing and implementation strategies for companion diagnostics. The firm provides the pharmaceutical companies with an end-to-end solution for the launch of precision medicine diagnostics enabled by DXRX - The Diagnostic Network. DXRX is the diagnostic commercialization platform for precision medicine, integrating multiple pipelines of diagnostic testing data from a global network of laboratories.
Revenue Growth: Diaceutics reported H1 2024 revenue of GBP 12.3 million, up 24% (28% in constant currency) and in line with market expectations.
Profitability Pivot: Management reaffirmed guidance to return to profitability and generate free cash flow from 2025 as its two-year investment cycle concludes.
PMx Launch: The first PMx contract was signed, positioning Diaceutics as a sole promotional partner for a drug launch, with the deal worth around GBP 2 million per year and significant upside based on results.
High Margins: Gross profit margin was 87% for H1, with full year expected around 85%, demonstrating the high-margin nature of the business.
Order Book Strength: Record order book of GBP 27.9 million provides 71% visibility to full year revenue guidance, supporting strong growth outlook.
Recurring Revenue: Subscription and recurring revenue models continue to expand, with a 93% subscription renewal rate by value and 94% renewal for Signal contracts.
Healthy KPIs: The company identified over 250,000 patients through Signal in H1 and expects more than 500,000 for the full year, with growing customer and brand engagements.
Sales & Expansion: Investment in sales and marketing, especially in the U.S., is seen as key to unlocking further growth and market exposure.
