Diaceutics - Trading Update - July 22
Diaceutics has released a strong trading update, including a 15pp increase in the proportion of sales coming from the DXRX platform, to 75%: this is hugely positive for earnings & cash flow visibility as platform revenue tends to be multi-year and recurring in nature.Revenue was +25% organically and the order book reached £10m, becoming material for the first time. Management is delivering on its goal to contract more multi-year, predictable revenue streams. We expect further material growth in the order book as the business model completes its pivot and the revamped sales team gains further traction with the key Technology Enabled Services, Data, and Professional Service offering.
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