Business Update

(AIM: FDBK) Feedback plc has announced a business and commercial update, highlighting a contract extension and development funding received from Queen Victoria Hospital (QVH). The company has secured a further extension of its existing QVH contract, now running until the end of March 2027. This extension is valued at £127,000 and is intended to cover the period up to the end of the NHS financial year, while discussions continue at national and regional levels with the NHS. NHS England has communicated its expectation to undertake a wider commissioning programme around clinical pathways and elective recovery starting in April 2027, for which Feedback plc is positioning itself. In addition, QVH has committed to provide a further £249,000, awarded by Surrey and Sussex Integrated Care Board (ICB), to support key product development aimed at improving pathway delivery and scalability through the Bleepa platform. The company notes that this development funding is intended to enable some pathways to be adopted more widely across the ICB in the coming months. The QVH contract extension invoice aligns with the NHS year end, and, without additional revenue or cash receipts, Feedback plc’s cash runway is currently expected to extend to the end of Q1 2027. An independently commissioned review of Bleepa at QVH has highlighted significant time and cost saving impacts on the breathlessness and insomnia pathways, as well as the potential for wider rollout and scale across ICBs. Feedback plc believes that Bleepa is closely aligned with wider NHS strategy and that of regional ICBs, particularly in easing unsustainable demand on NHS services, addressing long waiting lists, and supporting the shift of care closer to virtual and community settings. The company also reports increasing commercial engagement across multiple opportunities, including an approach by one of the largest ICBs to explore a multiyear elective transformation opportunity. The scope of this work is currently being negotiated and is subject to contract terms being agreed. While there is no certainty that the project will proceed, the scope is likely to involve an initial paid pilot phase with a clinical pathway going live across several providers around the calendar year end, with the intention that this will inform and roll into a wider commissioning piece from April 2027. Due to the scale of the opportunity, the programme is likely to be delivered alongside, and formalise relationships with, key delivery partners, and is anticipated to lead to equivalent opportunities with other ICBs as part of their elective recovery programmes. Dr Tom Oakley, CEO of Feedback plc, commented that despite a challenging trading environment, the company is encouraged by these emerging opportunities and ongoing discussions regarding the broader rollout of Bleepa. He believes these opportunities have the potential to bring significant long-term value to both shareholders and NHS customers.