Microsaic Systems has reported its full year results, which reflects accelerating commercial traction. Revenues grew 357% to £0.9m, and intra-year orders exceeded £1m. A reduction in operating costs meant that EBITDA losses reduced 18% to £1.8m. Key highlights detail a number of product launches, product demonstrations and commercial agreements, including an agreement with DeepVerge (DVRG). Post period, the momentum continued with MSYS signing a multiyear contract with DVRG, which has a total potential value of £1m. The ongoing move from product sales to customer centric solution has already delivered encouraging progress, supporting improved revenue visibility. As such, management believes revenue expectations for the FY22 are expected to be met, and growth is anticipated to be maintained into FY23.
