DMTR.L

DeepMatter Group Plc
DeepMatter Group PLC - Trading Update
26th October 2022, 06:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 1016E
DeepMatter Group PLC
26 October 2022
 

Text Description automatically generated                                                                                                                                                

26 October 2022

 

DeepMatter Group Plc

Trading update

 

DeepMatter Group Plc (AIM: DMTR, "Deepmatter", the "Group"), the digital chemistry data and software company, announces that after the nine months of the financial year and having now signed a material agreement with Merck (see separate statement), the Group expects revenue for the current financial year to be no less than £1.5m, an increase of over 50% year on year (2021: £1.0m).

 

DeepMatter has secured three strategically important multi-year collaborations during the current financial year and as anticipated continues to see a strengthening of its sales pipeline following a strong first half.  The Merck collaboration has the potential to become one of the Group's largest to date.

 

These collaborations bring future revenue visibility and opportunities to grow the revenue opportunity from existing customers as well as new customers.  They include technology access fees, collaboration fees and royalties.

 

As stated in the Group's H1 results, DeepMatter is investing in product enhancements, strengthening its team, pursuing machine learning (ML) and artificial intelligence (AI) based R&D activities that create new intellectual property (IP).  It also continues to assert its IP rights which have the potential to contribute to long term value creation.  The Directors remain in regular contact with the Group's major shareholders who are supportive.  Deepmatter held cash balances of £0.7m at 30 September 2022, with costs remaining in line with those reported at the time of Group's H1 results.

 

Additionally, ChemIntelligence, which DeepMatter acquired in June 2022, has been selected by Bayer CropScience, the world's second largest agrochemical company, to provide its capabilities in Bayer's LifeHub Lyon in La Dargoire Research Centre (CRLD).

 

The inclusion of ChemIntelligence in the LifeHub should accelerate the safe design and more effective development of chemical crop protection products using its artificial intelligence expertise and intellectual property.

 

Mark Warne, CEO of DeepMatter, commented:

 

"After a solid H1, we are now on course to increase our year on year revenues by some 50% and importantly are seeing increasing customer interest and the potential for recurring royalty revenues. These revenues which are recognised over the life of contracts, providing us with growing visibility.

 

"With our strengthening relations with Merck and other international blue chip organisations plus our investment programme, we are leading the digitalisation of chemistry space and driving the market shift.  Our vision is to provide the digital data that enables all molecules to be made efficiently and safely as well as sustainably."

 

For more information contact

 

DeepMatter Group Plc

Mark Warne, Chief Executive                                                                                                     0141 548 8156

Fraser Benson, Chief Financial Officer                    

                                                                               
Canaccord Genuity Limited (Nominated Adviser and Broker)                                    
Bobbie Hilliam                                                                                                                                   020 7523 8000


Meare Consulting                                                                                                                      
 Adrian Duffield                                                                                                                                 07990 858548

                 

About DeepMatter Group plc 

 

DeepMatter's SmartChemistry® platform enables scientists across a range of industries, including pharma, biotech, agri-science, scientific publishers and contract research organisations (CROs), to easily capture, access and exploit the vast amounts of data created in chemical reactions.  

 

DeepMatter integrates its proprietary chemistry data and proprietary software to significantly improve productivity, efficiency, discovery, safety and sustainability of chemical reactions for its customers.

 

DeepMatter's SmartChemistry® platform capitalises on the combination of its cloud technology, low cost-sensors, connectivity to laboratory hardware and high-performance computing trends such as artificial intelligence (AI).

 

Visit: www.deepmatter.io and follow @deepmattergroup

 

Prior to this announcement's release, the statement contained inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR) (Market Abuse Regulation).

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTFFFELIELEFIF ]]>
TwitterFacebookLinkedIn