(Boursier.com) — The turnover for the 1st half of 2023 amounts to 593 KE, an increase of 16% compared to the 1st half of 2022.
These two semesters each include the sale of a platform (sale to the University of Florida in 2022 and to the ICR in the UK this semester). The company continues to consolidate its offering and is more efficient in production logistics and customer relationship management.
The total income from the activity for the first half of 2023, after taking into account other income, amounts to 826 KE, up 11% compared to the 1st half of 2022. Other income, amounting to 233 KE as of June 30, 2023, correspond to the research tax credit.
Current operating expenses increased by 86% to 6 ME and are mainly broken down as follows, in addition to the cost of sales:
3.1 ME in ‘R&D’ costs, compared to 1.6 ME in the first half of 2022, an increase of 97%. The company has intensified its research and development efforts with the main projects with very high added value in the fields of Cellular and Gene Therapies and Bioproduction, notably the development project of the new micro-fluidic technological platform with Cambridge Consultants which has is the subject of a previous communication;
0.45 ME of expenses associated with sales and marketing, up 70% compared to June 30, 2022 following the reorganization of the workforce in this department, a strong presence in scientific and trade fairs and the overhaul of the digital communication;
1.4 ME in overheads, down 56 KE compared to the first half of 2022.
The operating profit stands at -5.1 ME as of June 30, 2023, compared to 2.5 ME as of June 30, 2022. The net result as of June 30, 2023 stands at -6.4 ME, compared to -2.5 ME as of 30 June 2022.
Financial structure as of June 30
Genomic Vision had cash of 14 KE as of June 30, 2023, compared to 760 KE as of June 30, 2022. This cash consumption is directly linked to the company’s current activity, in particular the payment of labor costs. .
The financial resources available in the short term (OCABSA, CIR, customer receivables), available to the company, should allow it to finance its activities until the end of October 2023. The Company is actively working on several financing and operational structuring options in a manner to quickly secure the additional financial resources necessary for its continued development beyond this horizon. The Company anticipates a gradual extension of its financing horizon to 12 months, in several stages: the very short-term realization of operations on which it is actively working and which should enable it to strengthen its equity and thus continue its activities during the financial year; then other complementary initiatives allowing it to extend its financial horizon at least until the end of 2024. On the basis of these elements, the assumption of going concern was retained by the management of the Company. However, there is no guarantee that anticipated financing will be available.
Next financial publication
Turnover for the 3rd quarter of 2023: Tuesday November 14, 2023 (after market).