AIM movers: Initial product revenues for Futura Medical and large contract for Beeks Financial

Futura Medical (LON: FUM) says 2023 product revenues were around £3.1m following the launch of erectile dysfunction treatment Eroxon in the UK and Belgium. It has already built up a 20% market share. A $4m upfront payment from Haleon for US rights will be recognised in 2024. There was cash of £7.7m at the end of 2023. The share price jumped 31.6% to 36.45p.

Cloud computing services provider Beeks Financial Cloud (LON: BKS) has secured a significant multi-year contract with one of the world’s largest global exchange groups. The contract requires regulatory approval so it may not make a contribution in the year to June 2024. The value of the deal was not disclosed but it could be worth £3m or more each year. Another contract has been increased in size. Canaccord Genuity is maintaining its 2023-24 pre-tax profit forecast at £4.1m and increasing the 2024-25 figure from £5.3m to £6m. The share price increased 30.6% to 141p – the highest level since March last year.

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Quadrise (LON: QED) has signed a collaboration agreement with Cargill and MAC2 Solutions for the production of the company’s MSAR and bioMSAR fuels for marine vessel trials on the MSC Leandra. Cargill will supply feedstocks and MAC2 provide jetty space. Cargill has its own fleet of more than 500 vessels. The fuels are more efficient and have less emissions than rival fuels. The share price rose 28.3% to 2.675p.

Internet services company SysGroup (LON: SYS) had a good third quarter with double digit growth year-on-year. AI services are building sales with new and existing customers. The company has secured a three-year cyber security contract worth more than £500,000 and this will be recognised in the fourth quarter. Owen Philips has been appointed as finance director. The Liverpool office is being closed. The share price improved 20.7% to 35p.


Tracking systems provider t42 IoT Tracking Solutions (LON: TRAC) lost most of yesterday’s gains after it secured an order from a customer for 30,000 Lokies keyless padlock units and that could generate $7.5m in revenues over three years. The share price slipped 23% to 2.75p – just above the Friday closing price.

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Secure payments services provider PCI-Pal (LON: PCIP) increased interim revenues by one-fifth to £8.7m and achieved positive EBITDA. Annualised recurring revenues were 23% ahead at £14.7m. Net cash was £540,000 at the end of 2023, after paying £1.1m of legal costs for the patent case with Sycurio. The US trial is set for February 2025. PCI-Pal has secured a partnership deal with Zoom. The share price dipped 11.7% to 49p.

Tiger Royalties and Investments (LON: TIR) reported a steady unaudited portfolio value of 0.08p/share. The share price declined 9.09% to 0.25p.

There was profit taking in MicroSalt (LON: SALT) shares, which fell from its peak to 9.42% to 62.5p. To put that in context the low-sodium salt developer raised £3.14m at 43p/share when it joined AIM on 1 February. The company has set out its strategy and expects to announce additional US orders. It is in early-stage discussions with three UK supermarkets.

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