Aquis Exchange Experiences Continued Growth with Revenues Increases Across All Divisions for H1 2023

Aquis Exchange, an operator of the world's only subscription-based trading venues, today published its interim results for the six months ended June 30, 2023 (H1 2023, or 1H23), experiencing another period of consistent growth with revenue increases across all divisions.

The net revenue for the six months came in at £9.7 million, up 17% compared to £8.3 million in H1 2022. More specifically, net revenue from the Markets Division increased by 15% to £5.87 million (1H22: £5.11 million); net revenue from the Technologies Division increased by 4% to £1.13 million (1H22: £1.09 million); net revenue from Data Division increased by 33% to £1.84 million (1H22: £1.38 million); and net revenue from the Aquis Stock Exchange increased by 19% to £832k (1H22: £699k).

Operating costs rose by 15% from £6.9 million to £8.0 million, reflecting primarily increased headcount in the period as well as inflation on both staff cost and data center costs and increased data costs.

Profit before tax amounted to £1.1 million, an increase of 64% compared to £0.7 million in H1 2022.

EBITDA profit for the half year was £1.7 million, increasing by 26% compared to £1.4 million in the same period of last year.

Basic earnings per share (EPS) for the period was 3.8 pence, 52% higher than 2.5 pence for the first six months of 2022.

Cash and cash equivalents totaled £13.9 million, rising by 5% compared to £13.3 million in H1 2022.

Aquis CEO, Alasdair Haynes, stated: "Despite challenging market conditions, we remain positive on the long-term potential of the Aquis Stock Exchange, which remains profitable. With economic uncertainty continuing to affect all market participants, we are pleased to be delivering continued growth, strategic progress and value for shareholders. We have had a positive start to 2023, with continued revenue growth across all divisions and trading remains in line with Board expectations for the full year."