Cardiff-based medtech firm Intelligent Ultrasound has reported a significant rise in its revenue following a successful fundraising boost at the end of last year.
Posting its full trading results for the year ending December 31 2022, the ultrasound artificial intelligence (AI) software and simulation company, which is listed on the Alternative Investment Market, has seen its group revenue grow by 33% to £10.1m. This was up from £7.6m in 2021.
The company, which is headquartered in Hodge House, has two revenue streams: simulation and clinical AI software. Its simulation-related revenue grew to £9.4m, up 28% on 2021. While clinical AI-related revenue saw a 200% growth reaching £700,000, up from £200,000 on the previous year.
