TIDMDMTR
RNS Number : 5267M
DeepMatter Group PLC
22 September 2021
22 September 2021
DeepMatter Group Plc
Half Year Results
DeepMatter Group Plc (AIM: DMTR, "DeepMatter", the "Group"), the
international digital chemistry data company, has published its
unaudited results for the six months to 30 June 2021.
Highlights
-- Increasing commercial traction including multi-year licensing
deal with Merck's life sciences business
-- Data growth and technology integrations with university
partners in: discovery and development digital workflow; automated
precision manufacturing; and machine learning for sustainable
chemistry
-- Cemented industry relationships with a number of key managerial appointments
-- Secured new customers with strong industry pedigree - active users up 48%
-- H1 revenue up to GBP0.65m (H1 2020: GBP0.53m)
-- R&D higher - reflecting continued investment in products
-- Administrative costs down 9% to GBP1.03m
-- H1 loss GBP1.4m (H1 2020: loss GBP1.2m).
Mark Warne, DeepMatter CEO , commented:
"We have seen positive momentum in H1 and have enhanced our
position in a growing market. We continued to resource our sales
and R&D capabilities to strengthen our offering."
"Our focus is on unlocking the value in digital chemistry by
building a fully integrated digital chemistry cloud platform of
chemical reaction data for scientists."
"On the back of a strong renewals base and our new focus on
growing revenues with those customers as well as growth in users
and trials, we look forward with increasing confidence to
delivering on our potential and the growth we envisage for 2021 and
beyond."
For more information:
DeepMatter Group Plc
Mark Warne, Chief Executive Officer
0141 548 8156
Canaccord Genuity Limited (Nominated Advisor and Broker) 020
7523 8000
Bobbie Hilliam
Meare Consulting 07990 858548
Adrian Duffield
About DeepMatter Group Plc
DeepMatter is building a unique, fully integrated digital
chemistry cloud platform of chemical reaction data for scientists,
who are working on early-stage chemical discovery &
development.
DeepMatter is integrating technology with chemistry to enable
scientists, principally in the commercial sector, to easily perform
and optimise chemistry. It is building, structuring and analysing
chemical reaction databases and using this substantial data for
real-time innovation and productivity gains in the chemical
industry - particularly pharmaceutical companies engaged in
pre-clinical drug discovery & development. This data is also
now enabling Artificial Intelligence (AI) driven chemical
automation.
Strategic overview
DeepMatter is now established as the leader in the
digitalisation of chemistry and driving this market shift, building
and commercialising a fully-integrated scalable platform that will
be the future of chemical reaction data.
The Group's strategy is to create value for its customers from
data it has collected. It will continue to grow by acquiring or
gaining access to additional data as it develops its integrated
cloud-based collection, analysis & control platform,
DigitalGlassware(R).
DeepMatter aims to exploit the growing market opportunity and
demand in the digitalisation of chemistry by developing data and
cloud delivery platform with real-time Machine Learning and
Artificial Intelligence (ML/AI) driven analytics.
DeepMatter has continued to see positive momentum in H1 with
increased commercial traction, data growth and technology
innovation, and enhancing industry relationships. The Group secured
a number of new customers with strong industry pedigree.
The Group saw active users increase by 48%, has 40 customers
globally and works with five of the 10 largest pharmaceutical
companies.
The Group saw solid H1 sales. It continued to strengthen its
sales pipeline and saw a continued growth in users and trials. The
previously highlighted focus on the CRO market is yielding new
customers.
The Group has also continued to invest in enhancing its products
and kept costs, down 9%, under tight control.
Current trading and outlook
DeepMatter operates in markets growing with CAGR of 4.7% from
2021 to 2028, driven by technology (digitalisation), compliance and
economic necessity.
The Group has an international footprint, blue-chip customer
base and key commercial relationships, both in academic centres and
corporate. It has the capabilities to exploit this industry change
and the potential for a growing SaaS revenue stream.
The Group saw revenue growth in H1 and with a strengthening
renewals base expects to strengthen further and progress the sales
pipeline in H2. DeepMatter will continue resourcing its R&D
delivery to strengthen the offering, as well as maintaining tight
control on costs.
On the back of a strong renewals base and the new focus on
growing revenues with those customers as well as growth in users
and trials, the Board looks forward with increasing confidence to
delivering on DeepMatter's potential and the growth envisaged.
Operational review
Markets
DeepMatter's customers are increasingly ready for, and
embracing, digitisation in chemistry. Some 35% of industry leaders
have migrated to AI/ML cloud systems which is resulting in material
and time savings, an enhanced human-machine interface and 99%
reduction in errors from reducing human contact with data
processes
The Group's wholistic and unique approach to collecting,
structuring, sharing and analysing time course-data (measuring the
effects of chemical reactions over the course of time), provides
faster actionable insights that result in scientific breakthroughs.
This is a key enabler to AI driven chemical automation.
DeepMatter's customers' digitalisation programme dovetail with
the Group's ESG capabilities. Digital chemistry provides access to
safe and sustainable chemistry. It increases the focus on placing
distance between the chemist and dangerous materials, with better
productivity reduces energy usage and also increases the focus on
building a sustainable chemistry database.
Key developments
Integration
The Group strengthened its sales and marketing team and
operating structure. A dedicated Customer Services Team Lead was
appointed and the consolidation of Software Development across
Munich and Glasgow was completed. The research function was brought
under leadership of chemical technologies expert Dr David
Parry.
User interface
A new user interface based on usage of global pharma clients was
introduced along with data quality enhancements, updated content
and new transform libraries for DeepMatter's retrosynthesis
software, ICSYNTH.
Commercial traction
DeepMatter signed a data licensing agreement with the Life
Science business of Merck to provide proprietary chemical structure
and reaction data content to Merck's selected application.
The Group also signed a co-distribution agreement with Elemental
Machines, the US based organisation helping biotechnology and
pharmaceutical companies identify research problems through its
sensor-based products. This agreement will see Elemental Machines
promote DeepMatter's integrated software, hardware and artificial
intelligence enabled platform, DigitalGlassware(R), to its wide
network of small and mid-size biotech North American customers
through its sales team
This agreement provides the Group with the opportunity to
broaden its customer base and help establish sales opportunities
across North America with organisations in the pharmaceutical and
biotechnology sectors.
Data growth and technology integrations
Further collaboration with the University of Nottingham's School
of Chemistry, provided access to the DigitalGlassware(R) platform
to support the University's sustainable chemistry initiatives.
This collaboration with Nottingham will focus on the development
of ML models of sustainable chemistry for researchers in the
pharmaceutical sector and related chemical-based industries.
The Group was selected as a partner for the University of Leeds
following a GBP1.4m EPSRC investment it received to develop
automated precision manufacturing approaches in collaboration with
the University of Sheffield, AstraZeneca, Somaserve and
Samsung.
DeepMatter commenced a project with the University of
Cambridge's Innovation Centre in Digital Molecular Technologies
(iDMT), an open innovation research centre co-funded by the
University of Cambridge, AstraZeneca, Shionogi and the European
Regional Development Fund.
Industry relationships
Bryn Roberts was appointed as Non-Executive Director. Bryn
brings a wealth of experience in the pharmaceutical sector having
spent 15 years at Roche, the Swiss multinational healthcare
company. He is Senior Vice President and Head of Data Services at
Roche Information Solutions and until recently was Global Head of
Operations, Pharmaceutical Research & Early Development.
As a key opinion leader, Bryn will contribute a network of
contacts, as well deep industry expertise providing a real-time
sector perspective on the needs of the Group's pharmaceutical
customers.
Mark Warne, CEO has been invited to chair the Industrial
Advisory Board (IAB) at Imperial College's EPSRC Centre for
Doctoral Training in Next Generation Synthesis & Reaction
Technology (CDT), for the next two years.
Mark's principal role will be to liaise closely with the CDT's
network of industrial partners, including AstraZeneca, Bayer, BASF,
GlaxoSmithKline, IBM, The Janssen Pharmaceutical Companies of
Johnson & Johnson, Mettler-Toledo, Syngenta, and Pfizer.
Financial review
Revenue for the first half of 2021 was GBP0.65m (H1 2020:
GBP0.54m). This includes revenue from licensing, SaaS recurring
revenues and related service business.
R&D spend increased to GBP0.86m (H1 2020: GBP0.32m, cash
spend was GBP0.71m). The Group continued to invest in enhancing
products and made progress along development roadmaps, focusing on
the commercial appeal of products. The capitalisation of
development was lower year-on-year reflecting the stage and nature
of development work undertaken in H1 2021 and the milestones
expected to be achieved before capitalising
DigitalGlassware(R).
Overhead costs were reduced to GBP1.03m (H1 2020: GBP1.14m) due
to a continued focus on cost control, reduced travel and savings
from staff turnover.
The Group incurred an operating loss GBP1.38m (H1 2020: loss
GBP1.17m), driven by the investment in R&D spend.
The Group held cash balances at 30 June 2021 of GBP1.84 million
(30 June 2020: GBP2.01m).
DEEPMATTER GROUP PLC
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHS TO 30 JUNE 2021
6 months ended 30 June 6 months ended 30 June
2021 2020 Year ended 31 December 2020
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
-------------------------------------- ----------------------- ----------------------- ----------------------------
Continuing operations
Revenue 649 536 1,319
Cost of Sales (176) (230) (433)
-------------------------------------- ----------------------- ----------------------- ----------------------------
Gross Profit 473 306 886
Research and development costs (856) (319) (1,596 )
Share based payments (45) (58) (167)
Administrative costs (1,032) (1,139) (1,980)
Other income - - 187
-------------------------------------- ----------------------- ----------------------- ----------------------------
Operating loss (1,460) (1,210) (2,670)
Finance income - net 2 3 13
Loss before tax (1,458) (1,207) (2,657)
Income tax credit 79 36 244
-------------------------------------- ----------------------- ----------------------- ----------------------------
Loss for the period (1,379) (1,171) (2,413)
-------------------------------------- ----------------------- ----------------------- ----------------------------
Other comprehensive income
Amounts which may be reclassified to profit or loss
Currency translation differences (5) 88 53
----------------------------------------------------------------------------------------------------------------------
Other comprehensive income for the year (5) 88 53
----------------------------------------------------------------------------------------------------------------------
Total comprehensive loss for the year attributable to equity (1,384) (1,083) (2,360)
holders of the company
----------------------------------------------------------------------------------------------------------------------
Loss per share attributable to the
equity holders of the Company:
Basic and diluted loss per share
(pence) on total operations (0.15) (0.16) (0.30)
-------------------------------------- ----------------------- ----------------------- ----------------------------
DEEPMATTER GROUP PLC
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHSED 30 JUNE 2021
Foreign
Shares to be currency
Merger issued translation Retained
Share equity Share premium reserve reserve reserve earnings Total
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Balance at 30
June 2019 74 7,136 5,971 1,274 34 (4,132) 10,357
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Loss for the
six months to
31 December
2019 - - - - - (1,359) (1,359)
Currency
Translation
differences - - - - (27) - (27)
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Total
comprehensive
loss for the
six months to
31 December
2019 - - - - (27) (1,359) (1,386)
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Transactions
with owners;
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Share based
payment
charge - - - - - 110 110
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Balance at 31
December 2019 74 7,136 5,971 1,274 7 (5,381) 9,081
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Loss for the
six months to
30 June 2020 - - - - - (1,171) (1,171)
Currency
Translation
differences - - - - 88 - 88
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Total
comprehensive
loss for the
six months to
30 June 2020 - - - - 88 (1,171) (1,083)
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Transactions
with owners;
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Share based
payment
charge - - - - - 58 58
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Balance at 30
June 2020 74 7,136 5,971 1,274 95 (6,494) 8,056
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Loss for the
six months to
31 December
2020 - - - - - (1,242) (1,242)
Currency
Translation
differences - - - - (35) - (35)
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Total
comprehensive
loss for the
six months to
31 December
2020 - - - - (35) (1,242) (1,277)
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Issue of
shares for
cash 14 1,998 - - - - 2,012
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Deferred
consideration
shares issued 4 1,066 - (1,070) - - -
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Share based
payment
charge - - - - - 109 109
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Balance at 31
December 2020 92 10,200 5,971 204 60 (7,627) 8,900
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Loss for the
six months to
30 June 2021 - - - - - (1,379) (1,379)
Currency
Translation
differences - - - - (5) - (5)
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Total
comprehensive
loss for the
six months to
30 June 2020 - - - - (5) (1,379) (1,384)
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Transactions
with owners;
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Share based
payment
charge - - - - - 45 45
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
Balance at 30
June 2021 92 10,200 5,971 204 55 (8,961) 7,561
--------------- ------------- -------------- -------------- ------------- ------------- ------------- ---------
DEEPMATTER GROUP PLC
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2021
As at 30 June As at 30 June As at 31 December
2021 2020 2020
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
Assets
Non-current assets
Intangible assets and goodwill 6,310 6,983 6,517
Investments 3 3 3
Property, plant and equipment 23 36 25
Right-of-use assets 18 106 61
Total Non-current Assets 6,354 7,128 6,606
---------------------------------------------------------- ---------------- -------------------- ------------------
Current assets
Trade and other receivables 144 187 454
Income tax asset 45 107 214
Cash and cash equivalents 1,835 2,009 2,606
---------------------------------------------------------- ---------------- -------------------- ------------------
Total Current Assets 2,024 2,303 3,274
---------------------------------------------------------- ---------------- -------------------- ------------------
Liabilities
Current liabilities
Trade and other payables (496) (827) (598)
Lease liabilities (21) (84) (64)
---------------------------------------------------------- ---------------- -------------------- ------------------
Total Current Liabilities (517) (911) (662)
---------------------------------------------------------- ---------------- -------------------- ------------------
Net current assets 1,507 1,392 2,612
---------------------------------------------------------- ---------------- -------------------- ------------------
Non-current liabilities
Lease liabilities - (24) -
Deferred tax (300) (440) (318)
---------------------------------------------------------- ---------------- -------------------- ------------------
Total non-current liabilities (300) (464) (318)
---------------------------------------------------------- ---------------- -------------------- ------------------
Total net assets 7,561 8,056 8,900
---------------------------------------------------------- ---------------- -------------------- ------------------
Shareholders' equity
Called up share capital 92 74 92
Share premium 10,200 7,136 10,200
Merger reserve 5,971 5,971 5,971
Shares to be issued reserve 204 1,274 204
Foreign Currency Translation reserve 55 95 60
Retained (deficit) / earnings (8,961) (6,494) (7,627)
---------------------------------------------------------- ---------------- -------------------- ------------------
Total equity attributable to shareholders of the Company 7,561 8,056 8,900
---------------------------------------------------------- ---------------- -------------------- ------------------
DEEPMATTER GROUP PLC
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE SIX MONTHSED 30 JUNE 2021
6 months 6 months Year
ended 30 ended ended
June 30 June 31 December
2021 2020 2020
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
------------------------------------------ ------------ ------------ -------------
Cash flows from operating activities
Operating loss from continuing
operations (1,460) (1,210) (2,670)
Profit/loss from discontinued operations - -
Adjustments for:
Depreciation and amortisation charges 324 306 580
Share based payments charge 45 58 167
Net exchange differences - 13 -
------------------------------------------ ------------ ------------ -------------
Operating cash outflows before
movement in working capital (1,091) (833) (1,923)
Decrease in inventories - -
Decrease/(increase) in trade and
other receivables 310 239 (22)
Increase /(decrease) in trade and
other payables (102) 289 134
------------------------------------------ ------------ ------------ -------------
Cash used in operations (883) (305) (1,811)
Interest received 2 5 17
Taxation received - - -
------------------------------------------ ------------ ------------ -------------
Net cash used in operating activities (881) (300) (1,794)
------------------------------------------ ------------ ------------ -------------
Cash flows from investing activities
Purchase of property, plant and
equipment (17) (19) (6)
Capitalisation of development costs - (386) (277)
Cash and bank in subsidiary at
acquisition net of cash payment - - -
------------------------------------------ ------------ ------------ -------------
Net cash used in investing activities (17) (405) (283)
Cashflows from financing activities
Proceeds from issue of share capital - - 2,151
Transaction costs arising from
the issue of share capital - - (138)
Payment of lease liabilities (74) (83) (129)
Taxation received 214 172 172
------------------------------------------ ------------ ------------ -------------
Cash generated from financing activities 140 89 2,056
------------------------------------------ ------------ ------------ -------------
Net increase/(decrease) in cash
and cash equivalents (758) (616) (21)
Cash and cash equivalents at beginning
of period 2,606 2,607 2,607
Effects of exchange rate changes
on cash and cash equivalents (13) 18 20
------------------------------------------ ------------ ------------ -------------
Cash and cash equivalents at end
of period 1,835 2,009 2,606
------------------------------------------ ------------ ------------ -------------
DEEPMATTER GROUP PLC
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHSED 30 JUNE 2021
1) BASIS OF PREPARATION
The condensed interim financial statements of DeepMatter Group
Plc are unaudited condensed consolidated financial statements for
the six months ended 30 June 2021. These include unaudited
comparatives for the six months ended 30 June 2020 together with
audited comparatives for the year ended 31 December 2020.
The interim financial statements do not include all of the
information required for full annual financial statements and do
not comply with all the disclosures in IAS 34 'Interim Financial
Reporting' and should be read in conjunction with the Group's
annual financial statements as at 31 December 2020. Accordingly,
whilst the interim statements have been prepared in accordance with
IFRS, they cannot be construed as being in full compliance with
IFRS.
The financial information for the year ended 31 December 2020
does not constitute statutory financial statements within the
meaning of section 435 of the Companies Act 2006. A copy of the
audited financial statements for that year has been delivered to
the Registrar of Companies. The Auditors' opinion on those
financial statements was unqualified, did not draw attention to any
matters by way of an emphasis of matter paragraph, and it contained
no statement under section 498(2) or section 498(3) of the
Companies Act 2006.
The accounting policies adopted are consistent with those
followed in the preparation of the Group's annual financial
statements for the year ended 31 December 2020. The Group has not
early adopted any other standard, interpretation or amendment that
has been issued but is not yet effective.
Going concern
Information on the business environment, financial position and
the factors underpinning the Group's future prospects and portfolio
are included in the Strategic Overview, Current Trading and Outlook
and Operational Review.
The cash balance at the 30 June 2020 was GBP1.8m. Based on
scenarios modelled, the Directors have a reasonable expectation
that the Group has adequate resources to be a going concern in
addition to which, the Directors may choose to fundraise or engage
in other strategic arrangements.
The Directors consider that it is appropriate to adopt the going
concern basis in preparing the consolidated financial statements.
Accordingly, the financial statements do not include any
adjustments which would be required if the going concern basis of
preparation was deemed to be inappropriate. However, if the Group
is unable to deliver upon its proposed revenue projections, or
alternatively proposed cost reductions, there is limited headroom
in the current forecasts and as such there is considered a material
uncertainty which may cast doubt about the Group's ability to
continue as a going concern.
2) SIGNIFICANT ACCOUNTING POLICIES
The accounting policies adopted are consistent with those
followed in the preparation of the consolidated annual financial
statements of DeepMatter Group Plc for the year ended 31 December
2020.
3 ) SEGMENTAL REPORTING
Operating Segments
The Chief Operating Decision Maker has been identified as the
Chief Executive Officer ("CEO") of the company. The Group has two
operating segments and the CEO reviews the Group's internal
reporting which recognises these two segments in order to assess
performance and allocate resources. The Group has determined its
reportable segments which are also its operating segments based on
these reports.
The Group currently has two operating and reportable segments
being DeepMatter and InfoChem;
-- DeepMatter - this segment owns, develops and is in the early
stage of commercially exploiting intellectual property, software,
hardware and data analysis capabilities (including machine
learning) combined as a visionary, disruptive platform called
DigitalGlassware(TM), enabling step changes in productivity and
discovery for scientists in the pharma and life science
sectors.
-- InfoChem - this segment develops and commercialises
cheminformatics software to handle, store and retrieve chemical
structures and reactions for application in pharma, life sciences
and scientific publications. The segment has industry established
market leading tools for the production of synthesis planning and
reaction prediction solutions and the automatic extraction of
scientific information from text and images.
Information regarding the operation of the reportable segments
is included below. The CEO assesses the performance of the
operating segments based on revenue and a measure of earnings
before interest, tax, depreciation and amortisation (EBITDA) before
any allocation of Group overheads, charges for share-based payment
and costs associated with acquisitions. This segment EBITDA is used
to measure performance as the CEO believes such information is most
relevant in evaluating the results of the segment.
The Group's EBITDA for the year has been calculated after
deducting the Group overheads from the EBITDA of the two segments
as reported internally. Group overheads include the cost of the
Board, listing costs, all the costs of running the premises in
Glasgow and Munich, Group marketing, finance, and legal and
professional fees.
The segment information is prepared using accounting policies
consistent with those of the Group as a whole.
The non-current assets are reviewed by the CEO in reviewing the
carrying value of goodwill and intangibles for indicators of
impairment. Segment non-current assets are measured in the same way
as in the financial statements and the assets are allocated based
on the operations of the segment and the physical location of the
asset.
The current assets and non-current and current liabilities of
the Group are not reviewed by the CEO on a segment basis and
therefore none of the Group's current assets and current and
non-current liabilities are segmental assets and liabilities and
are all unlocated for segmental disclosure purposes. For that
reason, the Group has not disclosed details of these segmental
assets and liabilities.
In the six-month period ended 30 June 2021, the Group had 2
customers that exceeded 10% of total revenue, being 19% and 13%
(2020: 3 customers being 21%, 14% and 11%).
All segments are continuing operations.
Revenue from contracts with customers by geographic location
6 months ended 30 6 months ended Year ended 31 December
June 2021 30 June 2020 2020
(Unaudited) (Unaudited) (Audited)
External Internal Total External Internal Total External Internal Total
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
------------- ------------- ----------------------- -------- ------------- ---------------------- -------- ------------------ ------------------------ ------------------
Germany 417 - 417 297 - 297 692 - 692
Switzerland 36 - 36 75 - 75 171 - 171
United
Kingdom 97 - 97 125 - 125 162 - 162
North
America 55 - 55 26 - 26 174 - 174
Rest of the
world 43 - 43 13 - 13 120 - 120
------------- ------------- ----------------------- -------- ------------- ---------------------- -------- ------------------ ------------------------ ------------------
Revenue for
the period 649 - 649 536 - 536 1,319 - 1,319
------------- ------------- ----------------------- -------- ------------- ---------------------- -------- ------------------ ------------------------ ------------------
The revenues reported above are both by destination and
origin.
Revenue from contracts with customers by Operating Segment
6 months ended 6 months ended Year ended 31 December
30 June 2021 30 June 2020 2020
(Unaudited) (Unaudited) (Audited)
External Internal Total External Internal Total External Internal Total
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
------------ --------- ------------ -------- --------- -------------- -------- ------------ -------------- --------
DeepMatter - - - 60 - 60 83 - 83
InfoChem 649 - 649 476 - 476 1,236 - 1,236
------------ --------- ------------ -------- --------- -------------- -------- ------------ -------------- --------
Revenue for
the
period 649 - 649 536 - 536 1,319 - 1,319
------------ --------- ------------ -------- --------- -------------- -------- ------------ -------------- --------
Loss by Operating Segment
6 months ended 30 6 months ended 30 Year ended 31
June 2021 June 2020 December 2020
(Unaudited) (Unaudited) (Audited)
----------------------------------------------- ---------------------------------------------------------------- -----------------
EBITDA
EBITDA Depreciation, EBITDA Depreciation, before Depreciation,
before amortisation, before amortisation, share amortisation,
share acquisition share acquisition based acquisition
based costs based costs payments costs
payments & share Operating payments & share Operating and & share Operating
and acquisition based Profit/ and acquisition based Profit/ acquisition based Profit/
costs payments (loss) costs payments (loss) costs payments (loss)
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
------------ ---------------- ----------------- ---------- ------------------ ----------------- ---------- ------------- ----------------- ------------
DeepMatter (446) (49) (495) (288) (37) (325) (993) (101) (1,094)
InfoChem (112) (194) (306) 151 (236) (85) 213 (511) (298)
Group
overheads (614) - (614) (742) - (742) (1,299) - (1,299)
Other
income - - - - - - - - 187
Share based
payments - (45) (45) - (58) (58) - (167) (167)
------------ ---------------- ----------------- ---------- ------------------ ----------------- ---------- ------------- ----------------- ------------
Loss before
tax and
interest (1,172) (288) (1,460) (879) (331) (1,210) (2,079) (779) (2,670)
------------ ---------------- ----------------- ---------- ------------------ ----------------- ---------- ------------- ----------------- ------------
Group
interest
and tax 81 39 257
------------ ---------------- ----------------- ---------- ------------------ ----------------- ---------- ------------- ----------------- ------------
Loss for
the
period (1,379) (1,171) (2,413)
------------ ---------------- ----------------- ---------- ------------------ ----------------- ---------- ------------- ----------------- ------------
Group overheads, share based payments, acquisition costs,
interest and tax are not allocated to segments.
Non-current assets by segment
6 month 6 month
period period
ended ended Year ended
30 June 30 June 31 December
2021 2020 2020
GBP'000 GBP'000 GBP'000
---------------------------------------- -------------------- -------------------- ------------
DeepMatter
UK 5,509 5,092 5,585
Germany - - -
InfoChem
UK - - -
Germany 842 2,033 1,018
------------------------------------------ -------------------- -------------------- ------------
Total non-current segment
assets 6,351 7,125 6,603
Unallocated:
Financial assets at fair value through
other comprehensive income 3 3 3
------------------------------------------
Total non-current assets as per
the statement of financial position 6,354 7,128 6,606
------------------------------------------ -------------------- -------------------- ------------
4) LOSS PER SHARE (BASIC AND DILUTED)
Basic earnings or loss per share is calculated by dividing the
gain or loss attributable to ordinary shareholders by the weighted
average number of ordinary shares in issue during the period.
For diluted earnings or loss per share, the weighted average
number of ordinary shares in issue is adjusted to assume conversion
of all dilutive potential ordinary shares.
6 months ended 30 June 6 months ended 30 June
2021 2020 Year ended 31 December 2020
(Unaudited) (Unaudited) (Audited)
---------------------------- --------------------------- --------------------------- ----------------------------
Total operations
Loss attributable to equity
holders of the Group
(GBP'000) (1,379) (1,171) (2,413)
Weighted average number of
dilutive shares in issue 922,937 736,534 814,397
---------------------------- --------------------------- --------------------------- ----------------------------
Basic and diluted loss per
share (pence) (0.15) (0.16) (0.30)
---------------------------- --------------------------- --------------------------- ----------------------------
Basic loss per share is based on the total loss after tax for
the period and the weighted average number of ordinary shares of
GBP0.0001 each in issue during the period. Diluted loss per share
is calculated by adjusting the average number of ordinary shares in
issue during the period to assume conversion of all dilutive
potential ordinary shares. The Company had a total of 30,703,707
potentially issuable dilutive ordinary shares in existence at the
30 June 2021 period end; (31 December 2020: 31,814,821; 30 June
2020: 74,026,944), comprised of 8,703,707 share options, 22,000,000
deferred consideration shares issued in relation to the acquisition
of OpenIOLabs Limited. The 30,703,707 potentially issuable dilutive
shares have not been included in the calculations due to their
potential issuance having an effect to reduce loss per share
attributable to equity holders.
5) RELATED PARTY TRANSACTIONS
The Group has taken advantage of the exemptions contained within
IAS 24 - 'Related Party Disclosures' from the requirement to
disclose transactions between Group companies as these have been
eliminated on consolidation.
Bettina Goerner served on the Board of the Company as a
Non-Executive Director until 9 March 2021. She was at that time a
Managing Director of Springer Nature and no amounts were paid to
Springer Nature for her services.
Mirko Walter served on the Board of the Company as a
Non-Executive Director from 9 March 2021. He is Vice President,
Sales at Springer Nature and no amounts were paid to Springer
Nature for his services.
In addition, during the period the Company paid remuneration to
the Directors' in accordance with their service contracts and
letters of appointment.
6) EVENTS SUBSEQUENT TO PERIOD ENDED 30 JUNE 2021
The directors were not aware of any events after the reporting
period.
7) HALF YEAR FINANCIAL REPORT
A copy of this half year report, as well as the prior year
annual statutory accounts, is available on the
Company's website at www.deepmatter. io
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END
IR MZGZLMMNGMZZ
(END) Dow Jones Newswires
September 22, 2021 02:00 ET (06:00 GMT)
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