Microsaic Systems (GB:MSYS) has released an update.
Microsaic Systems plc, a developer of micro-electronic instruments, faced a challenging fiscal year in 2023 with total revenue dropping by 70% to £0.49m, primarily due to the loss of sales to DeepVerge plc, coupled with an operating loss of £2.60m. Despite these setbacks, the company successfully raised £1.8m through new share placements and acquired the Modern Water business, which is expected to diversify its revenue streams and expand its client base. The company sees a bright future in water toxicity solutions and is working on a groundbreaking pathogen detector for water safety.
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