Intelligent Ultrasound Group PLC - Cardiff, Wales-based artificial intelligence ultrasound software firm - Posts revenue of £10.1 million for 2022, up 33% from £7.6 million in 2021. Clinical AI-related revenue grows to £700,000 from £200,000. Administrative expense, however, increase to £8.3 million by 18% from £7.0 million in 2021. Pretax loss narrows to £3.7 million from £4.4 million, as gross profit rises to £6.3 million from £4.7 million a year earlier.

Chair Riccardo Pigliucci says: ‘This has been another year of significant progress for the Group. We have increased Group revenue by over 30%, achieved the important milestone of FDA clearance for our second AI-driven product and continue to build an excellent partnership with the world’s leading ultrasound company - GE HealthCare.’

Current stock price: 10.65 pence, down 1.4% on Thursday morning in London

12-month change: up 12%

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