Financial performance
Physiomics said revenue for the first half of its fiscal year rose by 51% compared with the same period a year earlier, reaching £498,000. The company described this as its highest half-year income on record.
Despite the top-line increase, operating losses widened. The company reported an operating loss of £327,000 for the half-year, larger than the prior-year figure. Management attributed the deterioration in operating profit primarily to costs associated with onboarding new staff and the engagement of external contractors during the period.
Operating expenses for the six months totaled £855,000. On a net basis, the company recorded negative net income of -£301,000.
New service line and contracts
During the period Physiomics launched a Biometrics service line. The company said the new division has already won its first four contracts, a development that contributed to overall revenue growth in the half-year.
Outlook
Looking ahead, Physiomics expects total income for the full fiscal year to increase by 27% compared with the previous year. The company also anticipates that operating expenses will be lower in the second half as it reduces reliance on external consultants.
Management highlighted further growth potential from the new Biometrics business and pointed to a strong pipeline of potential contracts that could support future performance.
Context and closing
The results present a mixed picture: a record half-year top line and an early commercial validation of a newly launched service line, set against higher operating costs and a widened operating loss driven by specific staffing and contractor investments. The company has issued forward guidance that anticipates both higher total income for the fiscal year and a reduction in operating expenditure in the second half.