TIDMDMTR
RNS Number : 1459X
DeepMatter Group PLC
25 August 2022
25 August 2022
DeepMatter Group Plc
Half Year Results
DeepMatter Group Plc (AIM: DMTR, "DeepMatter", the "Group"), the
digital chemistry data and software company, has published its
unaudited results for the six months to 30 June 2022.
Highlights
-- Multi-year licencing and collaboration agreement with
AI-driven drug discovery company Standigm
-- Multi-year extension of Springer Nature Agreement, licencing
proprietary algorithms and supporting the handling of proprietary
data
-- Acquisition of ChemIntelligence to enhance IP and expertise
-- Alan Aubrey appointed Chairman and managerial team strengthened
-- H1 2022 revenue increased to GBP0.68m (H1 2021: GBP0.65m),
operating loss GBP1.8m (H1 2021: loss GBP1.4m)
-- R&D higher - reflecting continued investment in
SmartChemistry(R) platform to drive deal-flow in H2 and deliver a
stronger H2 than H2 2021
-- Fundraise in January 2022 raising GBP2.8m net cash for ongoing investment
Mark Warne, DeepMatter CEO , commented:
"We have seen solid revenues during H1 and some notable
renewals, which reflects the recurring nature of our business
model.
"We have also continued to invest in people and our
capabilities, both organic and by acquisition. Our
SmartChemistry(R) concept of providing our customers with easy
access and the ability to exploit data, is gaining international
industry recognition.
"A combination of a growing pipeline and our H1 investment
programme is expected to drive deal-flow in H2 and deliver a
stronger second half than H2 2021."
For more information:
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(R) 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(R) 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).
Strategic overview
DeepMatter is now established as a leader in the exciting
digitalisation of chemistry space and driving the market shift. The
Group is building and commercialising its SmartChemistry(R)
platform, which will be the future of chemical reaction data. The
Group's vision is to provide the digital data that enables all
molecules to be made efficiently and safely as well as
sustainably.
DeepMatter has the best available data for creating molecules
and is committed to building on this advantage. Our high quality
SPRESI dataset is known for its size, scope and quality. This data
is further enhanced by direct integration of laboratory hardware
and analytical as well as orthogonal data streams from our
proprietary sensor array.
DeepMatter is now seen as a scientific and commercial Key
Opinion Leader (KOL) with a strong leadership team drawn from
across the sector and a world class Scientific Advisory Board (SAB)
from industry and academia. SmartChemistry(R) is being used at to
create IP relevant to making molecules at Russell Group
universities.
On 28 June 2022, we announced the acquisition of
ChemIntelligence SAS, an AI business with a platform used to
develop chemical products and reactions faster.
The Group has continued to invest in enhancing its products and
the team to ensure we have the capability to deliver sustainable
growth.
Current trading and outlook
In H1 we continued to enhance our products and also strengthen
the team in order to deliver on a number of opportunities and
better support larger engagements.
DeepMatter will continue resourcing its R&D delivery to
strengthen the offering, as well as maintaining tight control on
costs.
The Group saw revenue growth in H1 and new deals closed,
providing a solid base for H2. The investment in H1 combined with
deals already closed, solid customer pull and a strong renewals
base set the expectation that the business will deliver a stronger
H2 versus H2 2021.
Operational review
Markets
The Group's customer base encompasses enterprises and research
operations from a wide range of industries particularly Pharma as
well as Biotech, Agri Science, Fine Chemicals, Scientific
Publishers and Contract Research Organisations (CROs).
SmartChemistry(R) platform
The SmartChemistry(R) platform is structured to encompass: a
user interface to enable analysis and control; an algorithm layer
to enable data cleansing, monitoring, modelling and prediction; and
a data layer made up of digitalised proprietary and unique content
along with published scientific research.
Our SmartChemistry(R) platform enables discovery and design with
speed and sustainable delivery. By linking the cloud with the
laboratory, we bring together all the key components a scientist
needs including: protocols and recipes, hardware integration,
machine learning and AI insight, data analysis and control and
automation.
DeepMatter's customers are increasingly ready for, and
embracing, digitisation in chemistry. Some 35% of industry leaders
have migrated to Machine Learning (ML) and Artificial Intelligence
(AI) cloud systems, which is resulting in material and time
savings, 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.
DeepMatter's customers' ESG demands and expectations are met by
the Group's capabilities. Digital chemistry provides access to safe
and sustainable chemistry. It increases the focus on placing
distance between the chemist and dangerous materials, better
productivity reducing energy usage and building a sustainable
chemistry database.
Product development
The Group strengthened its Product Management capability and
operating structure. A Chief Product Officer was appointed, fully
consolidating the strategic product management across the
Group.
The Group was granted the SmartChemistry(R) trademark in the
period which helps protect our unique platform. The Group
proactively protects its IP and data estate as this is core to its
capabilities.
We continue to work on further enhancing our data. Recently we
integrated the Pistachio patent dataset, adding up to another nine
million complimentary chemical reactions. Our proprietary
algorithms have been used to cleanse and verify this new data
source.
We are also collecting data using Natural Language Processing
(NLP) to automatically extract the best ways to make new medicines,
from a range of sources including the literature and electronic
laboratory notebooks.
Commercial execution
The Group have initiated a collaboration with Standigm, a
disruptive, emerging AI drug discovery company whose backers
include leading investor Temasek and global conglomerate SK
Corporation.
Standigm is using SmartChemistry(R) in a three year deal, to
fully digitalise its new synthesis laboratory. Standigm has stated
that SmartChemistry(R) will dramatically reduce the labour needed
to make new compound. We anticipate doing further deals of this
type.
Thought Leadership
We continue to benefit from the experience and expertise of our
SAB for the external verification of our strategy, priorities and
direction of travel.
The Board is led by Dr Richard Bourne, Professor of Digital
Chemical Manufacturing at the University of Leeds. Working with
Richard are:
-- Dr Nessa Carson, Principal Automation Scientist at Syngenta.
-- Dr Natalie Fey, Associate Professor at the Centre for
Computational Chemistry, University of Bristol.
-- Dr David Parry, Head of Research at DeepMatter.
-- Dr Bryn Roberts, SVP and Head of Data Services at Roche
Information Solutions and one of DeepMatter's non-executive
directors.
Acquisition of ChemIntelligence SAS
On 28 June 2022, DeepMatter announced the acquisition of
ChemIntelligence, valuing the business at up to GBP0.42m.
ChemIntelligence ( https://chemintelligence.com/ ) has AI that is
used to develop chemical products and reactions faster.
The acquisition brings intellectual property and expertise that
complements the Group's chemical reaction data, data collection
platform and AI capabilities. It will also broaden DeepMatter's
technical expertise in chemical formulation, which will enable the
Group to expand its offering and address a broader customer
base.
Financial review
Revenue for the first half of 2022 was GBP0.68 million (H1 2021:
GBP0.65 million). This includes revenue from licensing, SaaS
recurring revenues and related service business. As we grow, we
anticipate the proportion of SaaS revenues will increase.
As planned R&D spend increased to GBP1.06 million (H1 2021:
GBP0.86 million). The Group continued to invest in enhancing
products and people to support our revenue growth in H2. We made
good progress along development roadmaps, focusing on the
commercial appeal of products.
Overhead costs were GBP1.20 million (H1 2021: GBP1.03 million)
as the team has carried fewer open positions. The team has modestly
grown in key areas and travel costs have increased as conferences
and sales opportunities return to being face-to-face
The Group incurred an operating loss GBP1.81 million (H1 2021:
loss GBP1.38 million).
The Group held cash balances at 30 June 2022 of GBP1.52 million
(30 June 2021: GBP1.84 million).
In January 2022, the Group completed a placing to raise
approximately GBP2.9 million through the issue of a total of
2,887,500,000 shares at 0.1 pence per share.
The proceeds have been used to finance further ongoing
investment in SmartChemistry(R), including integration of
cheminformatics capabilities, user and partner support, marketing,
data science initiatives, manufacture of hardware and for working
capital requirements.
DEEPMATTER GROUP PLC
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHS TO 30 JUNE 2022
6 months ended 30 June 6 months ended 30 June
2022 2021 Year ended 31 December 2021
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
-------------------------------------- ----------------------- ----------------------- ----------------------------
Continuing operations
Revenue 678 649 1,011
Cost of Sales (199) (176) (377)
-------------------------------------- ----------------------- ----------------------- ----------------------------
Gross Profit 479 473 634
Research and development costs (1,062) (856) (1,773 )
Share based payments (65) (45) (121)
Administrative costs (1,203) (1,032) (2,010)
Other income - - -
-------------------------------------- ----------------------- ----------------------- ----------------------------
Operating loss (1,851) (1,460) (3,270)
Finance income - net 0 2 3
Loss before tax (1,851) (1,458) (3,267)
Income tax credit 38 79 241
-------------------------------------- ----------------------- ----------------------- ----------------------------
Loss for the period (1,813) (1,379) (3,026)
Other comprehensive income
Amounts which may be reclassified to profit or loss
Currency translation differences (2) (5) (48)
----------------------------------------------------------------------------------------------------------------------
Total comprehensive loss for the year attributable to equity (1,815) (1,384) (3,074)
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 (0.05) (0.15) (0.33)
-------------------------------------- ----------------------- ----------------------- ----------------------------
DEEPMATTER GROUP PLC
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHSED 30 JUNE 2022
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 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
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Loss for the
six months to
31 December
2021 (1,647) (1,647)
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Currency
Translation
differences (43) (43)
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Total
comprehensive
loss for the
six months to
31 December
2021 (43) (1,647) (1,690)
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Transactions
with owners;
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Share based
payment
charge - - - - - 76 76
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Transfer (1,066) 1,066 -
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Release of
shares not
issued (204) 204 -
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Balance at 31
December 2021 92 9,134 7,037 - 12 (10,328) 5,947
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Loss for the
six months to
30 June 2022 - - - - - (1,813) (1,813)
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Currency
Translation
differences - - - - 1 - 1
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Total
comprehensive
loss for the
six months to
30 June 2022 - - - - 1 (1,813) (1,812)
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Transactions
with owners;
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Share based
payment
charge - - - - - 64 64
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Issue of
shares for
cash 289 2,495 - - - - 2,784
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Issue of
shares for
cash 20 180 - - - - 200
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
Balance at 30
June 2022 401 11,809 7,037 - 13 (12,077) 7,183
--------------- ------------- -------------- -------------- ------------- ------------- -------------- --------
DEEPMATTER GROUP PLC
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2022
As at 30 June As at 30 June As at 31 December
2022 2021 2021
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
Assets
Non-current assets
Intangible assets and goodwill 6,106 6,310 6,155
Investments 3 3 3
Property, plant and equipment 47 23 29
Right-of-use assets - 18 -
Total Non-current Assets 6,156 6,354 6,187
---------------------------------------------------------- ---------------- ---------------- ------------------
Current assets
Trade and other receivables 254 144 186
Income tax asset 158 45 158
Cash and cash equivalents 1,515 1,835 302
---------------------------------------------------------- ---------------- ---------------- ------------------
Total Current Assets 1,927 2,024 646
---------------------------------------------------------- ---------------- ---------------- ------------------
Liabilities
Current liabilities
Trade and other payables (716) (496) (670)
Lease liabilities - (21) -
---------------------------------------------------------- ---------------- ---------------- ------------------
Total Current Liabilities (716) (517) (670)
---------------------------------------------------------- ---------------- ---------------- ------------------
Net current assets 1,211 1,507 (24)
---------------------------------------------------------- ---------------- ---------------- ------------------
Non-current liabilities
Lease liabilities - - -
Deferred tax (184) (300) (216)
---------------------------------------------------------- ---------------- ---------------- ------------------
Total non-current liabilities (184) (300) (216)
---------------------------------------------------------- ---------------- ---------------- ------------------
Total net assets 7,183 7,561 5,947
---------------------------------------------------------- ---------------- ---------------- ------------------
Shareholders' equity
Called up share capital 401 92 92
Share premium 11,809 10,200 9,134
Merger reserve 7,037 5,971 7,037
Shares to be issued reserve - 204 -
Foreign Currency Translation reserve 13 55 12
Retained (deficit) / earnings (12,077) (8,961) (10,328)
---------------------------------------------------------- ---------------- ---------------- ------------------
Total equity attributable to shareholders of the Company 7,183 7,561 5,947
---------------------------------------------------------- ---------------- ---------------- ------------------
DEEPMATTER GROUP PLC
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE SIX MONTHSED 30 JUNE 2022
6 months 6 months Year
ended 30 ended ended
June 30 June 31 December
2022 2021 2021
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
------------------------------------------ ------------ ------------ -------------
Cash flows from operating activities
Operating loss from continuing
operations (1,851) (1,460) (3,270)
Profit/loss from discontinued operations - - -
Adjustments for:
Depreciation and amortisation charges 246 324 449
Share based payments charge 65 45 121
Operating cash outflows before
movement in working capital (1,540) (1,091) (2,700)
Decrease in inventories - -
Decrease/(increase) in trade and
other receivables (66) 310 268
Increase /(decrease) in trade and
other payables 32 (102) 72
------------------------------------------ ------------ ------------ -------------
Cash used in operations (1,574) (883) (2,360)
Interest received (0) 2 3
Taxation received - - 214
------------------------------------------ ------------ ------------ -------------
Net cash used in operating activities (1,574) (881) (2,143)
------------------------------------------ ------------ ------------ -------------
Cash flows from investing activities
Purchase of property, plant and
equipment (25) (17) (25)
Capitalisation of development costs (173) - (74)
Cash and bank in subsidiary at
acquisition net of cash payment - - -
------------------------------------------ ------------ ------------ -------------
Net cash used in investing activities (198) (17) (99)
Cashflows from financing activities
Proceeds from issue of share capital 3,088 - -
Transaction costs arising from
the issue of share capital (104) - -
Payment of lease liabilities - (74) (65)
Taxation received 0 214 -
------------------------------------------ ------------ ------------ -------------
Cash generated from financing
activities 2,984 140 (65)
------------------------------------------ ------------ ------------ -------------
Net increase/(decrease) in cash
and cash equivalents 1,212 (758) (2,307)
Cash and cash equivalents at beginning
of period 302 2,606 2,606
Effects of exchange rate changes
on cash and cash equivalents 1 (13) 3
------------------------------------------ ------------ ------------ -------------
Cash and cash equivalents at end
of period 1,515 1,835 302
------------------------------------------ ------------ ------------ -------------
DEEPMATTER GROUP PLC
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHSED 30 JUNE 2022
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 2022. These include unaudited
comparatives for the six months ended 30 June 2021 together with
audited comparatives for the year ended 31 December 2021.
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 2021. 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 2021
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 but did draw attention to
timing and value of revenue and cashflows and the impact on
intangibles and goodwill, in an emphasis of matter paragraph. 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 2021. 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 2022 was GBP1.5m. 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
2021.
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, data analysis and data collection capabilities (including
machine learning).
-- 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 chief operating
decision-maker 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 chief operating decisionmaker 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 2022, the Group had 2
customers that exceeded 10% of total revenue, being 44%, 16% and
11% (2021: 2 customers being 19% and 13%).
All segments are continuing operations.
Revenue from contracts with customers by geographic location
6 months ended 6 months ended Year ended 31 December
30 June 2022 30 June 2021 2021
(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 232 - 232 417 - 417 586 - 586
Switzerland 37 - 37 36 - 36 103 - 103
United
Kingdom 53 - 53 97 - 97 156 - 156
USA 35 - 35 55 - 55 96 - 96
Rest of the
world 321 - 321 43 - 43 70 - 70
------------- ------------- ----------------------- -------- ------------- ----------------------- -------- ------------------ ------------------------ ------------------
Revenue for
the period 678 - 678 649 - 649 1,011 - 1,011
------------- ------------- ----------------------- -------- ------------- ----------------------- -------- ------------------ ------------------------ ------------------
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 2022 30 June 2021 2021
(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 47 - 47 - - - 6 - 6
InfoChem 631 - 631 649 - 649 1,005 - 1,005
------------ --------- ------------ -------- --------- ------------ -------- ------------ -------------- --------
Revenue for
the period 678 - 678 649 - 649 1,011 - 1,011
------------ --------- ------------ -------- --------- ------------ -------- ------------ -------------- --------
Loss by Operating Segment
6 months ended 30 6 months ended 30 Year ended 31
June 2022 June 2021 December 2021
(Unaudited) (Unaudited) (Audited)
----------------------------------------------- ------------------------------------------------------------- -----------------
EBITDA EBITDA EBITDA
before Depreciation, before Depreciation, before Depreciation,
share amortisation, share amortisation, share amortisation,
based acquisition based acquisition based acquisition
payments costs payments costs payments costs
and & share Operating and & share Operating and & share Operating
acquisition based Profit/ 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 (813) (72) (885) (446) (49) (495) (1,274) (86) (1,360)
InfoChem 157 (170) (13) (112) (194) (306) 84 (360) (276)
Group
overheads (887) - (887) (614) - (614) (1,513) - (1,513)
Other
income - - - - - - - - -
Share based
payments - (65) (65) - (45) (45) - (121) (121)
------------ ---------------- ----------------- ---------- ---------------- ----------------- ---------- ------------ ----------------- ------------
Loss before
tax and
interest (1,543) (308) (1,851) (1,172) (288) (1,460) (2,703) (567) (3,270)
------------ ---------------- ----------------- ---------- ---------------- ----------------- ---------- ------------ ----------------- ------------
Group
interest
and tax 38 81 244
------------ ---------------- ----------------- ---------- ---------------- ----------------- ---------- ------------ ----------------- ------------
Loss for
the
period (1,813) (1,379) (3,026)
------------ ---------------- ----------------- ---------- ---------------- ----------------- ---------- ------------ ----------------- ------------
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
2022 2021 2021
GBP'000 GBP'000 GBP'000
-------------------------------------- -------------------- -------------------- ------------
DeepMatter
UK 5,584 5,518 5,520
Germany - - -
InfoChem
UK - - -
Germany 569 843 664
---------------------------------------- -------------------- -------------------- ------------
Total non-current segment
assets 6,153 6,351 6,184
Unallocated:
Financial assets at fair value
through other comprehensive income 3 3 3
----------------------------------------
Total non-current assets as per
the statement of financial position 6,156 6,354 6,187
---------------------------------------- -------------------- -------------------- ------------
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
2022 2021 Year ended 31 December 2021
(Unaudited) (Unaudited) (Audited)
---------------------------- --------------------------- --------------------------- ----------------------------
Total operations
Loss attributable to equity
holders of the Group
(GBP'000) (1,825) (1,376) (3,026)
Weighted average number of
dilutive shares in issue 3,544,377,618 922,937,821 922,937,821
---------------------------- --------------------------- --------------------------- ----------------------------
Basic and diluted loss per
share (pence) (0.05) (0.15) (0.33)
---------------------------- --------------------------- --------------------------- ----------------------------
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 35,395,800
potentially issuable dilutive ordinary shares in existence at the
30 June 2022 period end; (31 December 2021: 9,748,728; 30 June
2021: 30,703,707), comprised of 35,395,800 share options. The
35,395,800 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.
Mirko Walter served on the Board of the Company as Non-Executive
Directors from 9 March 2021. He is Vice President, Sales at
Springer Nature and no amounts were paid to Springer Nature for his
services.
The Group recognised H1 sales of GBP22,000 (H1 2020: GBP26,000)
in respect of the 'Services Agreement' between InfoChem and
Springer Group companies. There was GBPnil outstanding at the
30(th) June 2022 (30(th) June 2021: GBPnil.)
The Group has paid companies that are part of IP Group, a
significant shareholder, GBP20,000 in respect of the provision of
recruitment/ administrative services (H1 2020: GBPnil). There were
no amounts outstanding at the end of the 30(th) June 2022 (30(th)
June 2021: GBPnil).
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 2022
On the 28th June 2022, Deepmatter announced the acquisition of
ChemIntelligence SAS, a business based in Lyon, France which uses
artificial intelligence (AI) to help customers develop chemical
products and reactions faster. The Initial Consideration Shares
were admitted to trading on AIM on the 4(th) July 2022 and the
acquisition successfully closed on the 11th July 2022.
Further details can be found on the RNS:
https://ir.q4europe.com/solutions/DeepMatterGroupPlc/3968/newsArticle.aspx?storyid=15470650
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
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
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contact rns@lseg.com or visit www.rns.com.
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and conditions, to analyse how you engage with the information
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END
IR ZZGZRGDKGZZZ
(END) Dow Jones Newswires
August 25, 2022 02:00 ET (06:00 GMT)
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