**Summary of Feedback PLCs Final Results for the Year Ended 31 May 2025**
**Operational Highlights**
**Contract Wins** Secured a £495k digital infrastructure contract with Queen Victoria Hospital NHS Foundation Trust (QVH) and extended community diagnostic centre (CDC) pathway pilot funding at Northern Care Alliance NHS Foundation Trust (NCA).
**Strategic Partnerships** Signed a Memorandum of Understanding (MOU) with a primary care solutions partner and an NHS Trust, leveraging the governments Neighbourhood Health model.
**Awards and Recognition** Received the HSJ Partnership Award for reducing patient wait times and unnecessary hospital appointments through a digital breathlessness pathway.
**Product Integration** Integrated Bleepa® with key NHS referral systems to enhance scalability and broadened product functionality through collaboration with Vertex In Healthcare.
**Financial Highlights**
**Revenue:** £0.89m (2024: £1.18m)with Bleepa contributing 90%.
**EBITDA Loss** £3.06m (2024: £2.73m).
**Fundraising** Raised gross proceeds of £6.1 million via a Placing and Retail Offer in November 2024.
**Cash Position** £5.95m as of 31 May 2025, sufficient for runway to early CY2027.
**Strategic Focus**
**NHS Engagement** Continued discussions with Integrated Care Boards (ICBs) and focus on waitlist rationalisation within the NHS.
**Product Development** Emphasis on Bleepas integration with NHS systems and expansion of product functionality.
**International Expansion** Secured a paid pilot in India and explored opportunities in North America and Canada.
**Challenges**
**Revenue Growth** Impacted by NHS restructuring, funding uncertainties, and delays in decision-making processes.
**Impairment Charges** Recognized a £3.19m impairment charge on intangible assets due to increased uncertainty in the trading environment.
**Future Outlook**
**National Solution** Positioning Bleepa as a national solution with central NHS teams to address increased pressures and tighter finances at the local level.
**Cost Management** Implemented cost-saving measures, including curtailing activities in India and downsizing outsourced software development, to extend cash runway.
**Strategic Partnerships** Reinvigorated discussions with primary care partners to explore alternative routes to market.
**Management Perspective**
**CEO Tom Oakley** emphasized the alignment of Feedbacks solutions with government priorities and the NHS 10-Year Plan, highlighting the potential for Bleepa to deliver significant productivity gains.
**Chairman Rory Shaw** acknowledged the challenging year due to NHS restructuring but expressed confidence in the companys strategy and team to navigate headwinds and create long-term value.
**Conclusion**
Feedback PLC remains well-positioned to capitalize on the evolving healthcare landscape, particularly within the NHS, despite short-term challenges. The companys focus on digital solutions, strategic partnerships, and cost management is expected to drive sustainable growth and value creation in the long term.