Source: Sharecast
The AIM-traded company said its cash balance rose to $1.08m as at 30 June, up from $0.97m dollars at the end of 2024, supported by new contract wins and tight cost controls.
Orders worth $0.49m were secured during the first half, including significant contracts in Asia, lifting the total order intake since its AIM listing to $0.98m.
The outstanding order book stood at $0.81m dollars, providing revenue visibility for the second half.
First-half revenue was expected to reach approximately $0.13m, slightly ahead of the total for 2024, as several large orders are scheduled for delivery and revenue recognition in the second half.
GenIP said its Invention Evaluator services accounted for the bulk of first-half revenue and orders, while its Vortechs platform was expected to play a larger role in the second half.
The company also entered new markets during the period, including Brazil, Chile, and the UK academic sector, as part of its global growth strategy.
“We are extremely encouraged by the strong commercial traction we've achieved in such a short period since our IPO,” said chief executive Melissa Cruz.
“The size and quality of our order book reflect the value our services bring to clients worldwide.”
Cruz said the company was seeing increasing demand for its solutions, as institutions looked for faster, data-driven ways to unlock the value of their innovations.
“With a strong balance sheet and a growing pipeline of opportunities, we are well positioned to deliver accelerated growth in the second half of the year and beyond.”
GenIP said it was continuing to invest in technology development, with new product launches planned to enhance revenue generation.
The company said it expected an uplift in revenue in the second half of 2025, underpinned by a strong pipeline and sustained demand for its generative AI analytics services.
At 1016 BST, shares in GenIP were up 2.73% at 28.25p.
Reporting by Josh White for Sharecast.com.