Intelligent Ultrasound Group Plc (GB:IUG) has released an update.
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Intelligent Ultrasound Group Plc reported an 11% increase in group revenue to £11.2m in 2023, driven by a tripling in clinical AI-related revenues to £2.0m, despite a slight decline in simulation revenues. The company reduced its loss after tax to £2.6m and highlighted key partnerships and product launches, including the integration of its SonoLyst software into GE HealthCare’s ultrasound machines. Looking ahead, Intelligent Ultrasound is focusing on high-margin AI products and international markets to achieve profitability within their current resources.
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