23
September 2024
Oxford Metrics
plc
("Oxford Metrics", or the
"Group")
Trading
Update
Oxford Metrics (LSE: OMG), the smart
sensing software company, servicing life sciences, entertainment,
engineering and smart manufacturing markets, today provides the
following update on trading for the financial year ending 30
September 2024.
While the Group continues to have a
healthy pipeline, the trend of more extended buying cycles has
developed in the second half against a strong prior year
comparative. Globally, we are seeing customers across our markets
exercising greater caution and purchasing decisions are taking
longer to conclude. A number of opportunities in the pipeline have
now shifted into the new financial year.
On a segmental basis, in Vicon,
Engineering and Life Sciences are expected to be slightly behind
the prior year and Entertainment has been impacted by the ongoing
slowdown in the global games industry and subsequent content
creation contraction.
Markerless remains on track for
commercial delivery in FY25. Our team continues to work hard to set
the gold standard for our industry's future - markerless
technology. Following positive feedback and demand for this next
generation technology, we have secured three more blue chip
partners to enter the beta programme taking the total to 10
cornerstone customers.
The Group now expects to report
revenues in the range of £40-£42million and is expected to result
in Adjusted PBT* materially below current market expectations* for
the financial year.
The Group continues to have high
gross margins and remains in a strong financial position with a
robust current net cash position of c. £50 million, enabling the
business to continue its active pursuit of a number of M&A
opportunities within the smart manufacturing space to enhance our
recent acquisition of Industrial Vision
Systems ("IVS"). We are excited about the opportunities open to us
to drive more applications into the smart manufacturing
space to build the Group's position in this important market.
More detail will be provided when
Oxford Metrics announces its Preliminary Results for the financial
year ended 30 September 2024 which is expected on Tuesday, 3
December 2024.
*Oxford Metrics' compiled market consensus as at 20 September
2024 is as follows: FY24 Revenue £48.6m / FY Adjusted PBT
£7.8m.
For
further information please contact:
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Oxford Metrics
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+44
(0)1865 261860
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Imogen O'Connor, CEO
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Zoe Fox, CFO
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Numis Securities Limited
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+44
(0)20 7260 1000
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Simon Willis / Hugo Rubinstein /
Tejas Padalkar
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FTI
Consulting
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+44
(0)20 3727 1000
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Matt Dixon / Emma Hall / Jamille
Smith / Jemima Gurney
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About Oxford Metrics
Oxford Metrics develops software
that enables the interface between the real world and its virtual
twin. Our smart sensing software helps over 10,000 customers in
more than 70 countries, including all of the world's top 10 games
companies and all of the top 20 universities worldwide. Founded in
1984, we started our journey in healthcare, expanded into
entertainment, winning an OSCAR® and an Emmy®, then moved into
defence and engineering. We have a track record of creating value
by incubating, growing and then augmenting through acquisition,
unique technology businesses.
The Group trades through its
market-leading division: Vicon. Vicon is a world leader in motion
measurement analysis to thousands of customers worldwide, including
Guy's Hospital, Industrial Light & Magic, MIT and
NASA.
The Group is headquartered in Oxford
with offices in California, Colorado, and Auckland. Since 2001,
Oxford Metrics (LSE: OMG), has been a quoted company listed on AIM,
a market operated by the London Stock Exchange. For more
information about Oxford Metrics, visit www.oxfordmetrics.com