IXI

Ixico PLC

Health Care First-pass screen £15m

470/1000 Overall fit

AI beneficiary 35% 45

Operating leverage 25% 60

Valuation 25% 30

Downside protection 15% 60

First-pass take

Neuroscience clinical-trials data analytics with strong operational leverage (41% underlying revenue growth, 240bps gross margin expansion to 58.8%), but still loss-making (£0.8m operating loss). AI algorithms for imaging/biomarkers are supplementary tools, not revenue drivers. No valuation data disclosed. Customer concentration and clinical trial dependency cited as medium risks.

Flags

loss-makingno-valuation-datacustomer-concentrationmicro-capstale-filingclinical-trial-dependencypre-profitable