Highlights
Group revenues up 32% to £10.8m (H1 2013: £8.2m)
o Digital Radio revenues up 27% to £7.4m (H1 2013: £5.8m)
o Connected Audio revenues up 18% to £2.8m (H1 2013: £2.4m)
o Healthcare revenues of £0.5m (H1 2013: Nil)
EBITDA loss £5.6m unchanged (H1 2013: loss £5.6m)
Cash £13.2m at 30 June 2014
Healthcare
First NHS pilot started in September
Healthy pipeline of private and NHS hospitals in the UK and around the world
First two deployments of SensiumVitals® in UK and US went live in May
Distributors appointed in key territories - evaluations have started in Australia and Portugal
Grant funding awarded by the UK's Technology Strategy Board to support development of next generation system
Consumer Audio
Strong growth in Digital Radio driven by international expansion of DAB
Next generation Digital Radio solution launched in September - first revenues due Q4 2014
Connected Audio benefiting from sector growth and relationship with Spotify - Philips launch new multi-room speakers based on Group's solutions
Anthony Sethill, CEO of Toumaz said:
"We have made encouraging progress in the first six months of the year. We have seen our first material Healthcare revenues from SensiumVitals®. Our Digital Radio and Connected Audio businesses also saw good growth - up 27% and 18% respectively.
"In Healthcare, we are developing a strong international pipeline and customer feedback from our first deployments has been positive. In the last month, we have started the first NHS pilot of SensiumVitals® and our first deployments in Australia and Portugal.
"Digital Radio is benefitting from international market growth and our next generation solution will enhance revenues and margins. Our Connected Audio solutions, enhanced by our relationship with Spotify, are driving design wins and growth."
