Cambridge Cognition Holdings shares gained 11.2% to 120.1p in late afternoon trading on Thursday after the company announced a 31% revenue growth to £5.9 million in HY1 2022 compared to £4.5 million in HY1 2021.
The brain health digital solutions firm reported a 44% climb in like-for-like sales to £7.2 million in HY1 against £8.6 million the last year.
Cambridge Cognition Holdings mentioned an increase in contracted order book of £1.5 million since the close of last year to £18.6 million.
The group also highlighted a profit in line with management expectations of £20,000 against £100,000 year-on-year.
The company noted continued growth in cash balances to £8.6 million compared to £6.8 million at 31 December 2021.
Cambridge Cognition Holdings said it had a growing pipeline of opportunities for HY2 2022, with trading conditions remaining positive and high levels of company engagement with existing and new clients.
The group reported an expected annual revenue climb, with its present cash position providing the business with a platform to make new investments as opportunities arise.