'Another strong year of performance and continued growth across our business': Belfast firm reports record revenue and 50% EBITDA growth in 2024
Belfast’s Diaceutics, which also has operations in London and New York, said its order book stood at £24.9m at 31 December 2024, with an increased level of annual recurring revenue (ARR), which it said provided good revenue visibility to support continued strong growth in 2025
Diaceutics, a Belfast-based technology and services provider to the pharma and biotech industry, has said it generated strong commercial momentum last year and expects to return to profitability in 2025.
In the year to 31 December 2024, pre-tax losses at the listed business narrowed from £2.4m to £1.9m on revenue which jumped from £23.7m to £32.2m.
Diaceutics posted record adjusted EBITDA growth of 50% to £4.2m
The company, which also has operations in London and New York, said its order book stood at £24.9m at 31 December 2024, with an increased level of annual recurring revenue (ARR), which it said provided good revenue visibility to support continued strong growth in 2025.
Ryan Keeling, Diaceutics' chief executive, said: "I am extremely pleased to report that 2024 was another strong year of performance and continued growth across our business. The investments we have made in sales and product innovation are showing returns ahead of plan and the team have executed well.
"This continued growth demonstrates the significant value our customers place on our solutions, reflected by the increasing number of therapeutic brands we are working with, and enterprise-wide engagements secured to date.
"We are mindful of the current macro-economic uncertainty and we are closely monitoring how this could impact our customers, but our strong commercial progress, delivered over the past two years during our accelerated investment in the business, has provided us with the solid foundation required to continue our impressive organic growth, and we expect to return to profitability in 2025."