Major Estimate Revision • Jun 26
Consensus EPS estimates fall by 65% The consensus outlook for fiscal year 2026 has been updated. 2026 expected loss increased from -UK£0.023 to -UK£0.038 per share. Revenue forecast of UK£11.6m unchanged since last update. Healthcare Services industry in the United Kingdom expected to see average net income growth of 26% next year. Consensus price target of UK£0.62 unchanged from last update. Share price fell 4.3% to UK£0.34 over the past week. Announcement • Jun 25
Cambridge Cognition Holdings Plc has filed a Follow-on Equity Offering in the amount of €0.5 million. Cambridge Cognition Holdings Plc has filed a Follow-on Equity Offering in the amount of €0.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,428,571
Price\Range: €0.35 Reported Earnings • Apr 15
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: UK£0.039 loss per share (improved from UK£0.046 loss in FY 2024). Revenue: UK£9.40m (down 9.1% from FY 2024). Net loss: UK£1.68m (loss narrowed 6.2% from FY 2024). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Announcement • Apr 13
Cambridge Cognition Holdings Plc, Annual General Meeting, May 21, 2026 Cambridge Cognition Holdings Plc, Annual General Meeting, May 21, 2026. Announcement • Apr 07
Cambridge Cognition Holdings Plc to Report Fiscal Year 2025 Results on Apr 13, 2026 Cambridge Cognition Holdings Plc announced that they will report fiscal year 2025 results at 8:00 AM, GMT Standard Time on Apr 13, 2026 New Risk • Mar 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 33% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (UK£16.5m market cap, or US$22.1m). Reported Earnings • Sep 01
First half 2025 earnings released: UK£0.024 loss per share (vs UK£0.032 loss in 1H 2024) First half 2025 results: UK£0.024 loss per share (improved from UK£0.032 loss in 1H 2024). Revenue: UK£4.32m (down 23% from 1H 2024). Net loss: UK£1.01m (loss narrowed 10% from 1H 2024). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 37% per year, which means it is performing significantly worse than earnings. Announcement • Aug 13
Cambridge Cognition Holdings plc Launches Speaker Identification Solution to Safeguard Clinical Trial Integrity Cambridge Cognition Holdings plc announced the commercial launch of a proprietary speaker identification solution developed to tackle duplicate participant enrolment in clinical trials. This development continues to build on the Company's suite of AI voice enabled data quality management tools. The solution has already secured initial commercial deals and is scheduled to be deployed by a large pharmaceutical customer in Fourth Quarter 2025. Duplicate enrolment, where participants enrol in multiple concurrent trials, presents a growing challenge in clinical research, affecting data integrity, study validity and cost efficiency. Published data reports that up to 22% of participants may engage in overlapping trials. Developed on Cambridge Cognition's proven AI-enabled voice technology platform, the solution compares recorded voice samples collected during trial visits with a database of enrolled participants and addresses the risk of duplicate enrolments by using advanced voice biometrics to verify participants' identity across trial enrolment databases. The system operates during the screening phase to flag potential duplicates before data contamination occurs, ensuring reliable and non-duplicated data collection. The solution is GDPR and HIPAA compliant, scalable across languages, with potential application to a wide range of therapeutic areas, and has demonstrated over 97% accuracy. The Company believes there is significant demand for this solution and strong prospects for adoption wherever participant verification and cognitive data integrity are critical. This launch further strengthens the Group's growing suite of quality assurance tools, including the Automated Quality Assurance (AQUA) offering and reflects the Company's strategic commitment to enhancing reliability and efficiency for pharmaceutical and biotech companies conducting clinical research. Announcement • Aug 02
Cambridge Cognition Holdings plc Announces Earnings Guidance for 2025 Cambridge Cognition Holdings Plc announced earnings guidance for 2025. The company announced expect to see further growth in New Sales Orders and the Order Book during the remainder of 2025, company now expect total Revenue for the year to be in the region of £9.5 million- 10.0 million with a consequential impact on Adjusted EBITDA. New Risk • Jul 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 18% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-UK£3.1m). Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (UK£10.5m market cap, or US$13.8m). Reported Earnings • Jun 09
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: UK£0.046 loss per share (improved from UK£0.10 loss in FY 2023). Revenue: UK£10.3m (down 24% from FY 2023). Net loss: UK£1.79m (loss narrowed 49% from FY 2023). Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 4.1%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Healthcare Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 33% per year, which means it has not declined as severely as earnings. Announcement • Jun 04
Cambridge Cognition Holdings Plc, Annual General Meeting, Jun 27, 2025 Cambridge Cognition Holdings Plc, Annual General Meeting, Jun 27, 2025. Location: the registered office of the company, tunbridge court, tunbridge lane, cambridge, cb25 9tu, bottisham United Kingdom Reported Earnings • May 05
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: UK£0.046 loss per share (improved from UK£0.10 loss in FY 2023). Revenue: UK£10.3m (down 24% from FY 2023). Net loss: UK£1.79m (loss narrowed 49% from FY 2023). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 4.1%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Healthcare Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 33% per year, which means it has not declined as severely as earnings. Announcement • Apr 24
Cambridge Cognition Holdings Plc to Report Fiscal Year 2024 Results on May 01, 2025 Cambridge Cognition Holdings Plc announced that they will report fiscal year 2024 results at 11:00 AM, GMT Standard Time on May 01, 2025 Buy Or Sell Opportunity • Apr 02
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.0% to UK£0.36. The fair value is estimated to be UK£0.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company became loss making. New Risk • Mar 10
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 7.5% per year over the past 5 years. Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (UK£17.3m market cap, or US$22.3m). Announcement • Mar 07
Cambridge Cognition Announces Involvement in One of the Largest Brain Health Studies, the Intuition Brain Health Study Cambridge Cognition announced its involvement in one of the world's largest brain health studies, the Intuition Brain Health study1, demonstrating the significant value of its proprietary digital cognitive assessments. On 4th March 2025, leading scientific journal Nature Medicine2 published results from the Intuition Brain Health study, sponsored by Biogen Inc., in collaboration with Apple Inc. The study enrolled a representative sample of 23,004 participants across the United States and relied on Cambridge Cognition's CANTAB platform for the core cognitive assessment. Cambridge Cognition was selected as a partner for the study for its proven ability to deliver reliable digital cognitive measurements in remote settings, highlighting the platform's unique capabilities for large-scale, unsupervised cognitive evaluation. The study demonstrates the feasibility of large-scale, cognitive assessments using smartphones alongside smartwatch technology and the significant potential to make brain health monitoring widely accessible for the general population. This validates the sensitivity of Cambridge Cognition's technology for the measurement of brain health across the lifespan. Key highlights of the study: Scalability & Accessibility: Emphasises CANTAB's proven ability to scale across diverse populations with high adherence across an extended period, making brain health monitoring widely accessible. Sensitivity to mild cognitive impairment (MCI): Highlights the impressive performance metrics in detecting mild cognitive impairment to reinforce Cambridge Cognition's leadership in cognitive assessment. Validation & Future Leadership: The Intuition study provides evidence of Cambridge Cognition's status as the preferred partner and leading innovator in changing the landscape of brain health assessments. Announcement • Feb 07
Cambridge Cognition Holdings plc Appoints Jonathan Kempster as an Independent Non-Executive Director Cambridge Cognition Holdings plc announced the appointment of Jonathan ("Jon") Kempster as an independent Non-Executive Director of the Company, with immediate effect. Jon has more than 20 years' experience as a public company director and is currently a Non-Executive Director of three AIM quoted companies: Norman Broadbent plc, Synthetics plc, and Pennant International Group plc. Jon qualified as a chartered accountant with Price Waterhouse in 1990 and has been CFO of a number of companies including FII Group plc, Linden Homes, Delta plc, and Frasers Group. He has held several non-executive roles since 2019. Announcement • Jan 22
Cambridge Cognition Expands Services with the Launch of In-House Rater Training Cambridge Cognition Holdings plc announced the launch of its in-house Rater Training service. Rater training is an important component of successful Central Nervous System (CNS) clinical studies that ensure customers' clinical trial staff collect reliable CNS study data. Addingin-house Rater Training to the Group's electronic Clinical Outcome Assessments (eCOA) and Automated Quality Assurance tools will enable the Company to become a single platform provider and expand the size of the accessible CNS clinical trials market in which its products can be utilized. The global cognitive assessment and training healthcare market, encompassing rater training services, delivered revenues of $5.2 billion in 2023 and, notably, the services segment, which includes comprehensive rater training solutions, captured more than 50% of the total market revenue. This market is projected to grow at a compound annual growth rate of 27% through 2030. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 34% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 7.5% per year over the past 5 years. Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Minor Risk Market cap is less than US$100m (UK£16.7m market cap, or US$20.3m). Price Target Changed • Dec 10
Price target decreased by 64% to UK£0.56 Down from UK£1.55, the current price target is provided by 1 analyst. New target price is 78% above last closing price of UK£0.32. Stock is down 41% over the past year. The company posted a net loss per share of UK£0.10 last year. New Risk • Sep 15
New major risk - Revenue and earnings growth Earnings have declined by 7.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.5% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable next year (UK£109k net loss next year). Shareholders have been diluted in the past year (34% increase in shares outstanding). Market cap is less than US$100m (UK£16.2m market cap, or US$21.3m). Announcement • Sep 13
Cambridge Cognition Holdings plc Announces Stepping Down of Matthew Stork as Chief Executive Officer Cambridge Cognition Holdings Plc announced that Dr. Matthew Stork has stepped down as Chief Executive Officer (CEO) with immediate effect to pursue other opportunities. During his tenure Matthew guided the Company through a period of significant growth and led the acquisitions in 2022 and 2023 of eClinical Health and Winterlight Labs, which have resulted in the expansion of the eCOA platform and launch of the AQUA solution. The Board would like to thank Matthew for his significant contribution and wishes him every success in the future. Announcement • Sep 12
Cambridge Cognition Holdings Plc Announces Senior Management Changes Cambridge Cognition Holdings Plc announced that Dr. Matthew Stork will resign as a member of the Board of the Company. Rob Baker, Chief Operating Officer, and Alex Livingstone-Learmonth, Chief Commercial Officer, have been appointed as Acting Joint Managing Directors while the Board undertakes a search for a new CEO. To enable a smooth transition, they will be supported by Ronald Openshaw, who has been the Company's senior strategic financial consultant since July 2024, together with the Board. While the recruitment of a new Chief Financial Officer progresses, Ronald Openshaw has been leading the Company's Finance function. Biographies of each are set out in the Appendix below. Rob Baker and Alex Livingstone-Learmonth will report to the Chairman but will not be appointed to the Board. During his tenure Matthew guided the Company through a period of significant growth and led the acquisitions in 2022 and 2023 of eClinical Health and Winterlight Labs, which have resulted in the expansion of the eCOA platform and launch of the AQUA solution. Rob Baker,Chief Operating Officer, was previously the Chief of Product and Operations. He joined the Company as Head of Product in November 2022. Prior to this, Rob Baker held several senior roles at Amazon, including leading large operational teams to scale Alexa voice technology improvements and leading privacy and security operations. In addition to his operational expertise, Rob Baker has significant sales and marketing experience, having been responsible for regional Amazon Echo device sales, device expansion, and large-scale e-commerce programs. Rob Baker began his career at Siemens where he led contract delivery within the Mobility Division before transitioning into regional management roles within the Smart Infrastructure Division.
Alex Livingstone-Learmonth,Chief Commercial Officer, joined the Company in February 2024 having previously worked in the clinical trial technology, services and solutions industry for over 20 years. He previously held the role of Vice President, Global Lead, Strategic Accounts at Calyx and Vice President, Global Strategic Accounts, Business Development at Signant Health (formerly CRF Health). Prior to this Alex Livingstone-Learmonth gained 20 years of eClinical experience, leading and building high-achieving global commercial teams. Ronald Openshawis CEO of Lucia Capital which advises companies in the life science and healthcare sector on strategy, operational delivery and business acquisitions and disposals. He has served as Chief Executive Officer and/or Chief Financial Officer of several companies including Simbec-Orion, a clinical research organisation, Plethora Solutions, a urology and sexual health specialty pharmaceutical company, and Pharmagene/Asterand - a pioneer in the use of human tissue in drug discovery and development. In each of these companies Ronald has delivered multi-fold shareholder returns during his tenure. Prior to these roles he was a senior healthcare investment banker with both Jefferies and Panmure Gordon. He is a Chartered Accountant having qualified at KPMG. Reported Earnings • Aug 28
First half 2024 earnings released: UK£0.032 loss per share (vs UK£0.096 loss in 1H 2023) First half 2024 results: UK£0.032 loss per share (improved from UK£0.096 loss in 1H 2023). Revenue: UK£5.60m (down 7.2% from 1H 2023). Net loss: UK£1.12m (loss narrowed 66% from 1H 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. New Risk • Aug 26
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: UK£1.3m Forecast net loss in 1 year: UK£109k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.5% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable next year (UK£109k net loss next year). Shareholders have been diluted in the past year (34% increase in shares outstanding). Market cap is less than US$100m (UK£18.9m market cap, or US$25.0m). Announcement • Aug 20
Cambridge Cognition Holdings Plc to Report First Half, 2024 Results on Aug 22, 2024 Cambridge Cognition Holdings Plc announced that they will report first half, 2024 results on Aug 22, 2024 New Risk • Jul 08
New major risk - Revenue and earnings growth Earnings have declined by 2.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.1% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (34% increase in shares outstanding). Market cap is less than US$100m (UK£16.0m market cap, or US$20.5m). Major Estimate Revision • Jun 19
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -UK£0.013 to -UK£0.014 per share. Revenue forecast of UK£14.0m unchanged since last update. Healthcare Services industry in the United Kingdom expected to see average net income growth of 27% next year. Consensus price target of UK£1.55 unchanged from last update. Share price fell 2.4% to UK£0.41 over the past week. Reported Earnings • Jun 07
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: UK£0.10 loss per share (further deteriorated from UK£0.013 loss in FY 2022). Revenue: UK£13.5m (up 7.2% from FY 2022). Net loss: UK£3.51m (loss widened UK£3.10m from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. New Risk • May 03
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: UK£3.7m Forecast net loss in 2 years: UK£504k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (UK£504k net loss in 2 years). Market cap is less than US$100m (UK£15.1m market cap, or US$18.9m). Announcement • May 01
Cambridge Cognition Holdings plc Provides Revenue Guidance for 2024 Cambridge Cognition Holdings Plc provided revenue guidance for 2024. The company expects full year revenues to be within the range of £13.0 million to £15.0 million. New Risk • Apr 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (UK£16.2m market cap, or US$20.1m). Announcement • Mar 21
Cambridge Cognition Holdings Plc Announces Formation of New Scientific Advisory Board Cambridge Cognition Holdings plc to announced the formation of a Scientific Advisory Board. This expert board will provide scientific guidance and valuable market insights, primarily focusing on addressing emerging trends such as the integration of blood-based biomarkers, the collaborative possibilities for computerised cognitive assessments, and the benefits of diverse populations and patient meaningfulness for clinical trials. It will also review and advise on product strategies, scientific approaches, and evidence-generation for regulatory and data strategies. The advisory board combines expertise covering CNS-related disorders, clinical development, and academia with a shared dedication to propelling brain health forward. With a wealth of experience in clinical development programmes, the board will support Cambridge Cognition in exploiting market trends effectively and ensuring its services and technologies continually adapt within the intricate and changing landscape for life science companies. The Scientific Advisory Board is chaired by Liam Kaufman, Vice President of Clinical Science and former CEO of Winterlight Labs, and is comprised of three founding members, highly qualified experts, namely: Professor Judith Jaeger, PhD, who serves as owner and president of CognitionMetrics, LLC, Professor John Harrison, Chief Scientific Officer at Scottish Brain Sciences, Francesca Cormack, PhD, Chief Scientist at Cambridge Cognition. Professor Judith Jaeger is a neuropsychologist with over 35 years of experience in clinical and experimental neuropsychology and psychopathology. She is the owner and president of CognitionMetrics, LLC, a consultancy serving the pharmaceutical industry on early-phase and experimental medicine projects and pivotal and late-phase clinical programmes in CNS-affected diseases. She has represented pharmaceutical clients in regulatory meetings, including the FDA and Japan's PMDA. She is a Clinical Professor of Psychiatry and Behavioral Science at Albert Einstein College of Medicine, New York. She has authored over 90 peer-reviewed journal articles, several book chapters, co-edited books and hundreds of abstracts and presentations. Previously, she was Vice President for Clinical Trials at Cogstate Inc. and Director of Clinical Development at AstraZeneca Pharmaceuticals, where she served as company-wide cognition and psychometrics expert. These industry positions followed a distinguished academic career as an NIH-funded research clinician and educator. Professor John Harrison is an acknowledged cognition expert whose principal professional interest is in helping people understand, maintain, and enhance their cognitive skills. John is Chief Scientific Officer at Scottish Brain Sciences, a clinical trial and neuroscientific research company. In the past 25 years, John has assisted more than 80 CNS drug development organizations with selecting and successfully integrating cognitive testing into therapeutic development programmes. His work in Alzheimer's disease dates back to his participation in the studies of compound AN1792, for which he developed the Neuropsychological Test Battery (NTB). Variants of the NTB have since been a common feature of CNS-focused treatment development programmes. Work in psychiatric indications has included a key role in the development and registration of Brintellix. John is an associate professor at the AUmc Alzheimer Center and a visiting professor at King's College London. He holds Chartered Psychologist status and has authored/co-authored more than 100 books and scientific articles. Announcement • Jan 30
Cambridge Cognition Holdings plc Announces Board Appointments, Effective February 1, 2024 Cambridge Cognition Holdings plc announced the appointment of Stuart Gall and Philip Rodgers ("Nick") as independent non-executive Directors of the Company, both with effect from 1 February 2024. Previous appointments include joint founder and executive director of Fusion IP plc, an AIM listed university IP commercialisation company, before its purchase by IP Group plc for £103 million in 2014. Stuart has over 30 years' experience in both small company start-ups and public companies and previously worked at British Airways plc, The Promotions Partnership Limited, Anvil Limited and Toad plc (now Journeo plc). Nick Rodgers is currently Chair of SEHTA. Until 2023 Nick was Chair of Destiny Pharma plc, a developer of novel anti-infective products and chair of ZPN Energy Limited, a developer of battery storage technologies and systems for the electric vehicle market. Previously, until 2016, Nick was chairman of Oxford BioMedica plc. Announcement • Oct 26
Cambridge Cognition Holdings plc Announces Launch of Automated Quality Assurance Solution for Central Nervical System Clinical Trials Cambridge Cognition Holdings Plc announced the launch of AQUA, the Company's automated quality assurance solution for central nervous system ("CNS") clinical trials that is powered by the Company's innovative Winterlight speech and language platform. This is the first such solution available in the market. The Company has already secured one customer for AQUA. Cambridge Cognition believes there is considerable potential for AQUA. Based on independent market research commissioned by the Company, the market opportunity for automated quality assurance for CNS clinical trials measuring cognition alone is estimated to be PS16 million per annum within five years. Cambridge Cognition also believes there could be further opportunities for use of the technology in other therapeutic areas and in healthcare applications. Quality assurance is an essential requirement for clinical trials as set out under 'Good Clinical Practice' guidelines. CNS clinical trials, for example for Alzheimer's disease or Schizophrenia, can rely on a clinician asking a patient questions and manually scoring the answer. In later stage, large clinical trials, quality assurance is critical as poor quality clinical consultations could change the result of the trial. Currently, expert clinicians usually listen to a proportion of patient consultations for later stage clinical trials to identify and report mistakes. Those reviews can be slow and expensive. AQUA was developed by the Company using advanced voice technology developed by Winterlight to conduct quality assurance more quickly, economically and accurately. AQUA can be used to assess every single patient consultation and provide a structured report to the pharmaceutical company within hours, not days or weeks. The product is available in nine languages and is available for several widely-used CNS clinical instruments and adaptable for almost all. AQUA can also confirm that it is the same patient in each subsequent consultation. With AQUA, pharmaceutical companies can be more confident that the data from their clinical trials is accurate. They can address problems, such as off-script questioning or inaccurate scoring, with a particular clinical trial site within hours. Then subsequently, they have reports from every single patient consultation as evidence of appropriate quality adherence for regulators for a new drug application. The Company has conducted its own trial comparing non-experts using AQUA with expert clinicians, showing that there was a high degree of correlation. Using these results, the Company has already secured a lead customer for AQUA and the solution will be used for the first time in a phase II clinical trial for Alzheimer's disease that is starting later in 2023. Major Estimate Revision • Oct 03
Consensus EPS estimates fall by 25% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from UK£15.0m to UK£14.0m. Losses expected to increase from UK£0.075 per share to UK£0.093. Healthcare Services industry in the United Kingdom expected to see average net income growth of 29% next year. Consensus price target down from UK£2.33 to UK£2.08. Share price was steady at UK£0.70 over the past week. Reported Earnings • Sep 29
First half 2023 earnings released: UK£0.096 loss per share (vs UK£0.001 profit in 1H 2022) First half 2023 results: UK£0.096 loss per share (down from UK£0.001 profit in 1H 2022). Revenue: UK£6.04m (up 2.7% from 1H 2022). Net loss: UK£3.31m (down UK£3.33m from profit in 1H 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Healthcare Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Sep 27
Cambridge Cognition Holdings Plc announced that it has received £3 million in funding Cambridge Cognition Holdings Plc announced a private placement to issue 11.5% term loan for the gross proceeds of £3,000,000 on September 26, 2023. The transaction will include participation from new investor Claret European Specialty Lending Company III, S.à r.l. ("Claret"). The Loan will be drawn down in full immediately, has a fixed interest rate of 11.5% per annum and a term of 36 months. The Loan will be repayable, with interest, in 30 monthly instalments following an initial six-month interest only period. The loan will be matured on September 26, 2026. The Company will issue investor with warrants to subscribe for £540,000 of new ordinary shares of £1 each. The exercise price of the warrants will be the lower of the volume weighted average price of the Ordinary Shares in the 5 days preceding or post execution of the Loan. Price Target Changed • Sep 27
Price target decreased by 11% to UK£2.08 Down from UK£2.33, the current price target is an average from 2 analysts. New target price is 188% above last closing price of UK£0.72. Stock is down 37% over the past year. The company is forecast to post a net loss per share of UK£0.093 next year compared to a net loss per share of UK£0.013 last year. Announcement • Sep 04
Cambridge Cognition Holdings Plc to Report First Half, 2023 Results on Sep 26, 2023 Cambridge Cognition Holdings Plc announced that they will report first half, 2023 results on Sep 26, 2023 Reported Earnings • Jun 09
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: UK£0.013 loss per share (down from UK£0.014 profit in FY 2021). Revenue: UK£12.6m (up 25% from FY 2021). Net loss: UK£409.0k (down 191% from profit in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Healthcare Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth. Announcement • Jun 07
Cambridge Cognition Holdings Plc, Annual General Meeting, Jun 28, 2023 Cambridge Cognition Holdings Plc, Annual General Meeting, Jun 28, 2023, at 09:00 Coordinated Universal Time. Location: registered office of the Company, Tunbridge Court, Tunbridge Lane, Bottisham Cambridge United Kingdom Price Target Changed • Apr 27
Price target increased by 19% to UK£2.33 Up from UK£1.95, the current price target is an average from 2 analysts. New target price is 138% above last closing price of UK£0.97. Stock is down 39% over the past year. The company is forecast to post earnings per share of UK£0.0065 for next year compared to UK£0.014 last year. Price Target Changed • Apr 25
Price target increased by 19% to UK£2.33 Up from UK£1.95, the current price target is an average from 3 analysts. New target price is 138% above last closing price of UK£0.97. Stock is down 39% over the past year. The company is forecast to post earnings per share of UK£0.0065 for next year compared to UK£0.014 last year. Announcement • Jan 12
Cambridge Cognition Holdings Plc (AIM:COG) acquired Winterlight Labs Inc. for £7 million. Cambridge Cognition Holdings Plc (AIM:COG) acquired Winterlight Labs Inc. for £7 million on January 11, 2023. The consideration comprised of £3 million cash payment and £4 million in Cambridge Cognition shares. The acquisition could add around £2 million to 2023 revenue.
Cambridge Cognition Holdings Plc (AIM:COG) completed the acquisition of Winterlight Labs Inc. on January 11, 2023. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. CFO & Executive Director Stephen Symonds was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 21
First half 2022 earnings released: EPS: UK£0 (vs UK£0.003 in 1H 2021) First half 2022 results: EPS: UK£0 (down from UK£0.003 in 1H 2021). Revenue: UK£5.88m (up 31% from 1H 2021). Net income: UK£16.0k (down 81% from 1H 2021). Profit margin: 0.3% (down from 1.9% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.5% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Healthcare Services industry in the United Kingdom. Price Target Changed • Jun 29
Price target increased to UK£2.03 Up from UK£1.89, the current price target is an average from 3 analysts. New target price is 68% above last closing price of UK£1.21. Stock is down 28% over the past year. The company is forecast to post earnings per share of UK£0.017 for next year compared to UK£0.014 last year. Board Change • Apr 27
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). Non-Executive Chairman Steven Powell is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Apr 14
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: UK£10.1m (up 50% from FY 2020). Net income: UK£450.0k (up UK£888.0k from FY 2020). Profit margin: 4.5% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 13%, compared to a 102% growth forecast for the industry in the United Kingdom. Reported Earnings • Sep 23
First half 2021 earnings released: EPS UK£0.003 (vs UK£0.015 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: UK£4.50m (up 50% from 1H 2020). Net income: UK£84.0k (up UK£508.0k from 1H 2020). Profit margin: 1.9% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Executive Departure • Jun 02
Secretary & Executive Director has left the company On the 27th of May, Nicholas John Walters' tenure in the role of Secretary & Executive Director ended. As of March 2021, Nicholas John personally held 300.83k shares (UK£57k worth at the time). A total of 2 executives have left over the last 12 months. Reported Earnings • Mar 27
Full year 2020 earnings released: UK£0.015 loss per share (vs UK£0.12 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: UK£6.74m (up 34% from FY 2019). Net loss: UK£438.0k (loss narrowed 85% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 9% per year. Is New 90 Day High Low • Jan 19
New 90-day high: UK£0.79 The company is up 53% from its price of UK£0.52 on 21 October 2020. The British market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Healthcare Services industry, which is up 24% over the same period. Price Target Changed • Jan 19
Price target raised to UK£1.05 Up from UK£0.75, the current price target is provided by 1 analyst. The new target price is 33% above the current share price of UK£0.79. As of last close, the stock is up 147% over the past year. Is New 90 Day High Low • Dec 29
New 90-day high: UK£0.64 The company is up 22% from its price of UK£0.52 on 30 September 2020. The British market is up 12% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Healthcare Services industry, which is also up 22% over the same period. Is New 90 Day High Low • Oct 08
New 90-day high: UK£0.56 The company is up 38% from its price of UK£0.41 on 10 July 2020. The British market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Healthcare Services industry, which is down 6.0% over the same period. Announcement • Oct 08
Cambridge Cognition Holdings plc Announces New £750,000 Digital Health Contract Cambridge Cognition Holdings plc announced that it has won a new contract providing cognitive tests and electronic clinical outcome assessments (eCOA) for an Alzheimer's trial (the "Contract"). The total Contract is worth approximately £750,000 over two years, with a considerable proportion of the revenue for the Company expected to be received in 2021. Alzheimer's trials have seen significant disappointments in recent years, so this pharmaceutical client is taking a new approach with a cutting-edge part-virtual clinical trial which combines in-person and remote testing. Cambridge Cognition is in a unique position to support the delivery of this trial with expertise in both gold-standard cognitive assessment and innovative digital health solutions for frequent, remote testing. To establish the cognitive impact of the drug, patients will complete CANTABTM cognitive assessments both in clinic and at home. The Company will also capture the important caregiver perspective by deploying an engaging mobile application. To deliver the Contract, Cambridge Cognition will configure existing modules developed for previous clinical trials rather than undertaking bespoke software development. Is New 90 Day High Low • Sep 18
New 90-day high: UK£0.45 The company is up 48% from its price of UK£0.30 on 19 June 2020. The British market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Healthcare Services industry, which is up 6.0% over the same period. Announcement • Jul 01
Cambridge Cognition Holdings Plc to Report Q2, 2020 Results on Sep 22, 2020 Cambridge Cognition Holdings Plc announced that they will report Q2, 2020 results on Sep 22, 2020 