21 September 2022
MyHealthChecked PLC, the consumer home-testing healthcare company, announces its unaudited half-year report for the six months ended 30 June 2022, which were stronger than expected and ahead of management expectations.
To view a full version of the results in
- Revenue up circa threefold to £9.8m (H1 2021: £3.3m)
- Post-period end: Record breaking July revenues of £6.8m (unaudited)
- Adjusted EBITDA improved to £0.37m (H1 2021: loss of £0.20m)
- Improvement in Gross Profit to £1.5m (H1 2021: £1.1m)
- Net cash generated from operating activities of £0.96m (H1 2021: £1.29m utilised)
- Cash balance at period end of £7.0m (H1 2021: £2.2m)
- Whilst continuing to invest across the business for future growth
- Strong cash generation and balances ensure next growth phases are self-funded
Commercial & Operational Highlights
- Distribution of FlowFlex™ COVID-19 lateral flow test kits into top 2 pharmacy retailers
- Over 6.4m COVID lateral flow tests delivered into the market, with a further 5m delivered post-period end
- Launch of new self-funded portfolio DNA tests
- Successful launch of DNA at-home wellness test range on Amazon
- Development technology builds for new blood testing launch in Q4 2022
- Retailer engagement around new testing portfolio
Penny McCormick, Chief Executive Officer of MyHealthChecked PLC, said: “We have exceeded our expectations for revenue performance in the first half of the year, and have further demonstrated our position of strength which has been earned through strong delivery and consistent customer service, despite even greater COVID unpredictability than experienced in 2021. Cash generation has been a top KPI for us, to ensure that we can self-fund our next growth phases and invest in building great technology and services for a successful and sustainable future. I want to thank each person who has delivered for MHC this year, doing so alongside the work being undertaken as we work towards a new portfolio and associated launches, which we are excited to share with the market in Q4.”
Penny McCormick, Chief Executive Officer and Nicholas Edwards, Chief Financial Officer, will provide a live presentation relating to the Half-Year Report via the Investor Meet Company platform tomorrow (Thursday 22 September 2022) at 4:30pm BST. The presentation is open to all existing and potential shareholders.
Investors can sign up to Investor Meet Company for free and register for the presentation via the link below:
|Penny McCormick, Chief Executive Officer||via Walbrook PR|
|Nicholas Edwards, Chief Financial Officer|
|SPARK Advisory Partners Limited (NOMAD)||Tel: +44 (0)20 3368 3550|
|Oberon Capital Ltd (Broker)||Tel: +44 (0)20 3179 5344|
|Mike Seabrook||[email protected]|
|Walbrook PR Ltd (Media & IR)||Tel: +44 (0)20 7933 8780 or [email protected]|
|Paul McManus / Alice Woodings||Mob: +44 (0)7980 541 893 / +44 (0)7407 804 654|
About MyHealthChecked PLC (www.myhealthcheckedplc.com)
MyHealthChecked PLC, based in Cardiff, is an AIM-quoted pioneering UK healthcare company focused on a range of at-home healthcare and wellness tests, supported by a user-friendly digital interface.
MyHealthChecked is the umbrella brand of a range of at-home wellness tests that are available online, and will be viable for over-the-counter purchase.
The MyHealthChecked portfolio has been identified as part of a change in mindset as customers become more familiar with the concept of accessible healthcare in the growing at-home testing kit market with a focus on accessibility at the right price, led by UK-based experts.