GB : Sensyne Health - 2021 ahead of expectations, major inflection in 2022 on-track
Sensyne released a prelim update this morning for FY2021 (year-end April). Revenues of at least £9m were much better than the £8m we had forecast while net cash of £23.6m was seemingly below our £26m forecast but timing effects mean this is more like £27m on a normalised basis. Importantly, on the back of a good start to the year with pharma contract momentum, management provided a positive outlook confirming its confidence in hitting consensus expectations which implies a trebling of revenues to £28m. Lastly, after doubling its patient dataset over the past week to 18m, management is now ambitiously targeting 100m patients by the end of 2024.
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