17th Sep 2025 07:00
KRM22 plc
("KRM22", the "Group" or the "Company")
UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2025
KRM22 plc (AIM: KRM.L), the technology and software investment company, with a particular focus on risk management in capital markets, is pleased to announce its unaudited interim results for the six months ended 30 June 2025 ("H1 2025" or the "Period").
Highlights
Financial
· Annualised Recurring Revenue* ("ARR") of £7.2m at 30 June 2025 (H1 2024: £6.0m) - growth of 20%
o New contracted ARR in the period of £1.0m (H1 2024: £1.1m)
o Total ARR attributable to the relationship with Trading Technologies International, Inc. ("TT") of £0.9m (H1 2024: £0.8m)
· Total revenue recognised of £3.6m (H1 2024: £3.3m) - growth of 10.6%
o Recurring revenue recognised of £3.4m (H1 2025: £2.9m) - growth of 15.4%
· Adjusted EBITDA profit** of £0.4m (H1 2024: profit of £0.3m)
· Loss before tax of £1.6m (H1 2024: loss before tax of £1.3m)
· Gross cash and cash equivalents at 30 June 2025 of £1.4m (FY 2024: £1.0m)
Operational
· New contractual ARR in H1 2025 generated from four cross sales opportunities to existing customers for the Limits Manager, Risk Manager and Market Surveillance applications
· First sales of combined surveillance product offering via the TT relationship
· KRM22 applications and Services team successfully handled increased market volatility following changes to US economic policy announced in April 2025
· Amendments to the TT convertible loan to defer all interest payments until June 2026
Post-Period Events
· Growth in ARR to £7.4 as at the date of this report at current FX rates
* Annualised Recurring Revenue ("ARR") is the value of contracted Software-as-a-Service (SaaS) revenue normalised to a one year period and excludes one time fees.
** Adjusted EBITDA is the reported loss for the period, adjusted for recurring non-monetary costs including depreciation, amortisation, unrealised foreign exchange loss and share-based payment charges/(credit) and non-recurring costs, both monetary and non-monetary, including Company reorganisation costs.
Commenting on the results, CEO of KRM22, Dan Carter, said:
"Another strong set of results for KRM22, with continued ARR growth and positive adjusted EBITDA. This momentum is being driven by sustained demand for Risk Manager and Limits Manager, with the majority of new ARR coming from cross-selling, highlighting both the strength of our applications and the quality of our service. Looking ahead, our pipeline remains robust as we work towards a strong close to 2025."
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
For further information please contact:
KRM22 plc [email protected]
Dan Carter, CEO
Kim Suter, CFO
Cavendish Capital Markets Limited (Nominated Adviser and Broker) +44 (0)20 7220 0500
Stephen Keys / Isaac Hooper
Sunila de Silva (ECM)
About KRM22 plc
KRM22 is a closed-ended investment company which listed on AIM on 30 April 2018. The Company has been established with the objective of creating value for its investors through the investment in, and subsequent growth and development of, target companies in the technology and software sector, with a focus on risk management in capital markets.
Through its investments and the Global Risk Platform, KRM22 helps capital market companies reduce the cost and complexity of risk management. The Global Risk Platform provides applications to help address firms' trading and corporate risk challenges and to manage their entire enterprise risk profile.
Capital markets companies' partner with KRM22 to optimise risk management systems and processes, improving profitability and expanding opportunities to increase portfolio returns by leveraging risk as alpha.
KRM22 plc is listed on AIM and the Group is headquartered in London, with offices in several of the world's major financial centres.
See more about KRM22 at www.krm22.com
CEO'S REPORT
KRM22 has maintained strong momentum into 2025, building on our record performance last year with continued growth in Annual Recurring Revenue ("ARR"). ARR reached £7.2m as of 30 June 2025 and, at the time of writing, has since increased further to £7.4m. The first half of 2025 delivered £1.0m in new ARR, representing one of our strongest starts to a year and underlining the continued momentum in the business. Encouragingly, 86% of this new ARR came from existing clients expanding into additional applications beyond their initial services with us - clear evidence that our integrated application strategy is gaining traction. Client churn continues to be managed to an acceptable level, with £0.1m of churn in in H1 2025 and, as at the date of this report, the total churn for the year-to-date has further increased to £0.3m, primarily due to industry consolidation. We continue to exercise disciplined cost control, positioning the business firmly on the path towards cash flow positivity and sustainable profitability.
Revenue growth
KRM22 has continued the progress made in 2024 into H1 2025 with £1.0m in new ARR, made up of £0.9m on new contracts and £0.1m of extensions to existing contracts. The growth in ARR was primarily driven by sales of Risk Manager (45%) and Limits Manager (32%), with the majority of these (86%) being sales of new applications to existing clients as an extension to what they currently have with KRM22. This growth validates our strategic vision to enable integration of the Risk Manager and Limits Manager applications, which together cover our Trading Risk offering. This enables firms to gain complete control of their risk management processes technologically by syncing live risk data with limits set on ISV trading applications and exchanges. Clients that have seen the benefits of using our Limits Manager application are now supplementing the audit trail workflows in Limits Manager with real-time data via the Risk Manager application. Similarly, our Risk Manager clients are now looking towards Limits Manager for the efficiency and audit gains that can be realised.
Our Trading Risk applications are used primarily by Futures Commissions Merchants ("FCMs") and, at the date of this report, we now have 19 FCMs contracted with KRM22 Trading Risk applications. Limits Manager remains the market leader and, with the integration to Risk Manager, we hope to see continued demand in this area.
The delivery of the highest standards of service is critical to a SaaS software firm such as ours. The changes in US economic policy announced in April 2025 created immediate volatility in global capital markets. Our applications and the services team proactively responded to the increased activity from our customers with high service levels being maintained. Proactive account management and high service levels ensure that customer churn levels are managed to an acceptable level. We continue to monitor this closely as we look to close out 2025 and beyond.
KRM22 Applications
In 2025, our focus has remained on strengthening core functionality in our applications, advancing integration of the Limits Manager and Risk Manager, and driving wider client adoption. Building on this foundation, we are now looking at how our applications can be adopted by additional asset classes, reflecting the significant opportunity in becoming a truly multi-asset platform. As our application suite continues to mature, we are well positioned to extend market coverage and deliver enhanced value to clients across a wider spectrum of their risk management needs.
Risk Manager
Following the successful creation of Risk Manager over the past couple of years, with initial sales of the enhanced application in 2024, the first half of 2025 has focused on scaling client usage and strengthening the performance of the application. There have been further client deployments that have successfully gone live, supported by continued investment in core functionality and data processing. In addition, we have delivered significant user interface improvements, ensuring a seamless transition for firms previously relying on our legacy At-Trade and Post-Trade Stress applications. With a client-led roadmap in place, we are delivering features that align closely with the day-to-day needs of risk managers across the industry.
Limits Manager
As Limits Manager advances further through its growth phase, development has remained focused on extending functionality and usability for risk teams and execution services. We have introduced more powerful client portal features, giving firms greater flexibility in how they grant access to their own end clients. Enhancements to API connectivity and external data enrichment have further strengthened audit trail capabilities, while automation features have continued to evolve. We have also expanded integrations with additional ISVs and exchanges via both APIs and file-based transfers, ensuring the application continues to deliver greater efficiency and control at scale.
Integration of Limits Manager and Risk Manager
Support and momentum have strengthened behind the integration of Limits Manager and Risk Manager, with more firms recognising the benefits of a consolidated risk framework. In 2025 we enhanced the combined workflows, enabling risk teams to assess key metrics from Risk Manager directly alongside client-raised limit changes in Limits Manager. These changes, once approved, are automatically recorded in the audit trail with full context which provides a powerful real-time view into both the decision process and underlying account standing. This level of transparency and control is proving increasingly valuable to our clients.
Market Surveillance
Our Market Surveillance application has continued to evolve, both in breadth and in strategic positioning. The alert library has grown further, now surpassing 80 alert types. The development of the API, enabling clients to consume surveillance results outside the KRM22 GUI, has unlocked even greater value through our integration with Trading Technologies International, Inc. ("TT") own surveillance product offering. This combined solution, pairing TT's AI/ML-driven model with KRM22's calibrated alerting, was released by TT in late 2024 and has gained commercial traction in H1 2025. TT's integrated surveillance product is already generating recurring and non-recurring revenues for KRM22, and with TT actively marketing the application, we expect this revenue stream to grow meaningfully through our revenue share model.
Outlook
We have continued to deliver strong progress in 2025 with £1.0m of new ARR added in the first half of the year and, at the date of this report, ARR now standing at £7.4m. The significant share of new ARR generated in H1 2025 from existing clients expanding into additional applications underpins our belief of the cross selling opportunity at KRM22 and the increasing value clients place on our integrated application suite. Limits Manager and Risk Manager continue to grow in stature as market-leading applications, while our partnership with TT is extending the reach of our joint best-in-class Market Surveillance offering. With a significant market opportunity ahead, especially across different asset classes, a growing footprint across both new and existing clients, and disciplined execution, we remain confident in our ability to build on this momentum to become a cash generative and profitable business.
Dan Carter
CEO
16 September 2025
FINANCIAL REVIEW
Income statement
Total revenue
Total revenue reported in the period was £3.6m (H1 2024: £3.3m), an increase of 9.1% compared with the prior period, with 93.1% (H1 2024: 89.1%) generated from recurring customer contracts. Non-recurring revenue for the period was £0.3m (H1 2024: £0.4m) and related principally to customer implementations, proof of concept work and development services.
Recurring revenue
As at 30 June 2025, the Group had contracted Annualised Recurring Revenue ("ARR") of £7.2m (H1 2024: £6.0m), with new contracted ARR in the period of £1.0m (H1 2024: £1.1m) and churn of £0.1m (H1 2024: £0.4m). As at the date of this report, contracted ARR has further increased to £7.4m.
Gross profit
Gross profit for the period was £2.8m (H1 2024: £2.7m) with gross profit margin for the period of 77.5% (H1 2024: 81.8%). The decrease in gross profit margin was driven by additional external sales commission on new ARR contracts in the period, and increased direct costs associated with the Risk Manager application.
Adjusted EBITDA
Adjusted EBITDA is a key metric to consider in order to understand the cash-profitability of the business due in particular to the non-cash items that impact the Income Statement under IFRS accounting, such as non-cash share-based costs.
Adjusted EBITDA for the period was a profit of £0.4m (H1 2024: profit of £0.3m) and a reconciliation of adjusted EBITDA profit to operating loss is detailed below.
|
|
| H1 2025 |
| H1 2024 |
|
|
| £'m |
| £'m |
Adjusted EBITDA profit |
|
| 0.4 |
| 0.3 |
Depreciation and amortisation | (0.6) | (0.8) | |||
Unrealised foreign exchange loss | (1.1) | - | |||
Share-based payment (charge)/credit | - | 0.1 | |||
Group reorganisation costs | - | (0.6) | |||
Operating loss |
|
| (1.3) |
| (1.0) |
Loss for the period
Reported operating loss for the period was £1.3m (H1 2024: loss of £1.0m) and included £1.1m of unrealised foreign exchange losses driven by a 9% movement in GBP:USD FX rates in the period.
Finance charges
The net finance expense for the period was £0.3m (H1 2024: £0.3m) and related to accrued loan interest on the TT convertible loan.
Financial position
Assets
The cash balance at 30 June 2025 was £1.4m (31 December 2024: £1.0m).
Current assets at 30 June 2025 include trade and other receivables of £0.8m (31 December 2024: £1.2m).
Liabilities
As at 30 June 2025, our principal liabilities were:
· £4.5m convertible loan owed to TT plus accrued interest of £1.0m.
· £0.4m (US$0.5m) deferred consideration for earn out payments for the acquisition of Object+. The liability can be satisfied in either cash or Company ordinary shares at the Company's discretion.
· £3.4m of deferred revenue; contracted and paid services that will be released within one year.
Principal risks and uncertainties
The principal risks and uncertainties facing the Group remain broadly consistent with the Principal Risks and Uncertainties reported in the Group's 31 December 2024 Annual Report and continue to be carefully monitored by the Board.
Kim Suter
CFO
16 September 2025
Consolidated income statement and statement of comprehensive income
for the six months ended 30 June 2025
|
| ||||
| Note |
| 6 months to 30 June 2025 (unaudited) |
| 6 months to 30 June 2024 (unaudited) |
|
|
| £'000 |
| £'000 |
|
| ||||
Revenue | 4 | 3,641 | 3,293 | ||
Cost of sales | (820) | (574) | |||
Gross profit | 2,821 | 2,719 | |||
Other income | - | 73 | |||
Administrative expenses | (4,143) | (3,794) | |||
Operating profit before interest, taxation, depreciation, amortisation, share based payment and exceptional items ("Adjusted EBITDA") |
355 |
333 | |||
Depreciation and amortisation | (587) | (836) | |||
Unrealised foreign exchange loss | (1,063) | (8) | |||
Share-based payment (charge)/credit | (27) | 92 | |||
Group reorganisation costs | - | (583) | |||
Operating loss | (1,322) | (1,002) | |||
Net finance charge | (263) | (262) | |||
Loss before taxation | (1,585) | (1,264) | |||
Taxation credit | 5 | 40 | |||
Loss for the period | (1,580) | (1,224) | |||
Loss for the period attributable to: Equity shareholders of the parent |
(1,580) |
(1,224) | |||
| (1,580) | (1,224) | |||
Other comprehensive income |
|
|
|
|
|
Item that may be reclassified subsequently to profit and loss Exchange gain on translating foreign operations |
1,469 |
12 | |||
Total comprehensive loss for the period | (111) | (1,212) | |||
Total comprehensive loss for the period attributable to: Equity shareholders of the parent |
(111) |
(1,212) | |||
| (111) | (1,212) | |||
Loss per ordinary share |
|
|
|
|
|
Basic and diluted earnings per share | 5 | (4.4p) | (3.4p) | ||
All amounts relate to continuing activities.
Interim consolidated statement of financial position
at 30 June 2025
|
|
| 30 June 2025 (unaudited) |
| 31 December 2024 (audited) |
|
|
| £'000 |
| £'000 |
Assets | |||||
| |||||
Non-current assets | |||||
Goodwill | 3,485 | 3,485 | |||
Other intangible assets | 2,504 | 2,128 | |||
Property, plant and equipment | 18 | 19 | |||
6,007 | 5,632 | ||||
Current assets |
|
|
|
|
|
Trade and other receivables | 761 | 733 | |||
Cash and cash equivalents | 1,361 | 1,035 | |||
2,122 | 1,768 | ||||
Total assets |
|
| 8,129 |
| 7,400 |
| |||||
Current liabilities | |||||
Trade and other payables | 4,738 | 4,218 | |||
Lease liabilities | 233 | 249 | |||
Loans and borrowings | 5,080 | 774 | |||
Derivative financial liability | 209 | 209 | |||
| 10,260 | 5,450 | |||
Net current liabilities |
|
| (8,138) |
| (3,682) |
| |||||
Non-current liabilities | |||||
Loans and borrowings | - | 4,039 | |||
Deferred tax liability | 68 | 145 | |||
68 | 4,184 | ||||
Total liabilities |
|
| 10,328 |
| 9,634 |
Net Assets | (2,199) |
| (2,234) | ||
|
Equity | |||||||||
Share capital | 3,610 | 3,596 |
| ||||||
Share premium reserve | 20,842 | 20,737 |
| ||||||
Merger reserve | (190) | (190) |
| ||||||
Convertible debt reserve | 327 | 327 |
| ||||||
Foreign exchange reserve | 1,210 | (259) |
| ||||||
Share-based payment reserve | 2,750 | 2,723 |
| ||||||
Retained losses | (30,748) | (29,168) |
| ||||||
Total equity |
| (2,199) |
| (2,234) |
| ||||
| |||||||||
Interim consolidated statement of cash flows
for the six months ended 30 June 2025
|
|
| 6 months to 30 June 2025 (unaudited) |
| 6 months to 30 June 2024 (unaudited) |
|
|
| £'000 |
| £'000 |
Cash flows from operating activities | |||||
Loss for the period | (1,580) | (1,224) | |||
Adjustments for: |
|
|
|
|
|
Tax credit | (5) | (40) | |||
Net finance expense | 263 | 262 | |||
Depreciation and amortisation | 587 | 836 | |||
Unrealised foreign exchange loss | 1,063 | 8 | |||
Equity-settled share-based payment charge/(credit) | 27 | (92) | |||
355 | (250) | ||||
Increase in trade and other receivables | (28) | (90) | |||
Increase in trade and other payables | 548 | 834 | |||
520 | 744 | ||||
Net cash inflows used in operating activities | 875 | 494 | |||
Cash flows from investing activities |
|
|
|
|
|
Purchases of intangible assets | (534) | (624) | |||
Purchases of property, plant and equipment | (4) | (9) | |||
| |||||
Net cash used in investing activities | (538) | (633) | |||
Financing activities | |||||
Lease payments principal |
|
| - |
| (116) |
Lease payments interest | - | (3) | |||
Net cash used in financing activities | - | (119) | |||
Net increase/(decrease) in cash and cash equivalents | 337 | (258) | |||
|
|
|
|
|
|
Cash and cash equivalent at beginning of the period | 1,035 | 886 | |||
Effect of foreign exchange rate changes |
|
| (11) |
| 1 |
|
|
|
|
|
|
Cash and cash equivalent at end of the period |
|
| 1,361 |
| 629 |
Notes to the interim financial information
1. General information
KRM22 Plc (the "Company") is a public limited company incorporated in England and Wales on 2 March 2018 under registration number 11231735. The address of its registered office is 8th Floor, Capital House, 84 - 86 King William Street, London, EC4N 7BL. The Company listed on the London Stock Exchange on 30 April 2018.
The principal activity the Company, and together with its subsidiaries (the "Group"), is to develop and sell software-as-a-service ("SaaS") applications which provide comprehensive solutions for corporate and trading risk management.
The Board of Directors approved this interim report on 16 September 2025.
2. Basis of preparation and consolidation
These interim consolidated financial statements have been prepared using accounting policies based on International Financial Reporting Standards (IFRS and IFRIC Interpretations) issued by the International Accounting Standards Board ("IASB") in conformity with the requirements of the Companies Act 2006. They do not include all disclosures that would otherwise be required in a complete set of financial statements and should be read in conjunction with the 31 December 2024 Annual Report. The financial information for the half years ended 30 June 2025 and 30 June 2024 does not constitute statutory accounts within the meaning of Section 434 (3) of the Companies Act 2006 and both periods are unaudited.
The annual financial statements of KRM22 Plc (the "Group") are prepared in accordance with IFRS. The statutory Annual Report and Financial Statements for 2024 have been filed with the Registrar of Companies. The Independent Auditors' Report on the Annual Report and Financial Statements for the year ended 31 December 2024, which was unqualified, did draw attention to a material uncertainty, being going concern and did not contain a statement under 498(2) or 498(3) of the Companies Act 2006.
The Group has applied the same accounting policies and methods of computation in its interim consolidated financial statements as in its 31 December 2024 annual financial statements, except for those that relate to new standards and interpretations effective for the first time for periods beginning on (or after) 1 January 2025 and will be adopted in the 2025 financial statements. There are deemed to be no new and amended standards and/or interpretations that will apply for the first time in the next annual financial statements that are expected to have a material impact on the Group.
3. Going concern
These financial statements have been prepared on the going concern basis. The Directors have reviewed KRM22's going concern position taking into account of its current business activities, budgeted performance and the factors likely to affect its future development, which are set out in this Annual Report, and include KRM22's objectives, policies and processes for managing its capital, its financial risk management objectives and its exposure to credit and liquidity risks.
The Directors have undertaken a significant assessment of the cashflow forecast covering a period of at least twelve months from the date of approval of the financial statements. Cashflow forecasts have been prepared based on a range of scenarios including, but not limited to, existing customer churn at different churn rates, no new contracted sales revenue, delayed sales and a combination of these different scenarios.
Having assessed the sensitivity analysis on cashflows, the key risks to KRM22 remaining a going concern and not being in breach of the financial covenants associated with the TT Convertible Loan is existing customers paying on payment terms and within 45 days of invoice, customer churn or up to 10%, conversion of some of the sales opportunities that are currently at contract negotiation stage and maintaining control of the cost base.
The time to close new customers and the value of each customer, which are deemed individually as high value and low volume in nature, is key to the forecast being achieved and KRM22 continuing to operate within its existing facilities. However, even if the forecast is achieved, there remains a material uncertainty around KRM22 operating within the financial covenants associated with TT Convertible Loan. The TT Convertible Loan includes financial covenants, reported at the end of each quarter, based on the Group's financial performance. Failure to comply with a financial covenant will result in an Event of Default which may result in TT withdrawing the TT Convertible Loan with all accrued amounts becoming immediately due and payable which would result in KRM22 becoming insolvent.
TT have previously been very supportive of KRM22 in amending the terms of the TT Convertible Loan, as demonstrated by the revisions agreed in December 2024, March 2025 and April 2025, to ensure that KRM22 did not breach the Cash Covenants. Past practice provides no guarantee that TT would be amenable to making future changes however KRM22 and TT are in early discussion on the longer-term plans for the TT Convertible Loan, noting that the three year term of the facility ends in June 2026. As part of these discussions, and where there is a risk to the Cash Covenant, amendments could include, but are not limited to, reducing the value of the Cash Covenant at each measurement date so that KRM22's cash exceeds the minimum cash requirement on each measurement date, conversion of the TT Convertible Loan or refinancing the TT Convertible Loan with a new debt facility. If the TT Convertible Loan was not amended, converted or a debt refinance is not completed, KRM22 would be obliged to seek alternative resolution including implementing extensive cost reduction measures, and in addition the Group is reliant upon the ability to raise additional funds to ensure it could meet its future liabilities as they fall due.
The Directors have concluded that the circumstances set forth above indicates the existence of a material uncertainty that may cast significant doubt on KRM22's ability to continue as a going concern. However, given KRM22's forecast, visible sales pipeline, working capital needs and continued support and open dialogue with TT, the Directors have considered it appropriate to prepare the financial statements on a going concern basis and the financial statements do not include the adjustments that would be required if KRM22 were unable to continue as a going concern.
4. Revenue (and segmental reporting)
The Board of Directors, as the chief operating decision maker in accordance with IFRS 8 Operating Segments, has determined that KRM22 have identified two areas of risk management as operating segments, together with a third segment where the two areas of risk management are not easily separable, however for reporting purposes into a single global business unit and operates as a single operating segment, as the nature of services delivered are common.
The Directors consider that the business has two areas of risk management: Trading Risk and Corporate Risk. Within these segments, there are two revenue streams with different characteristics, which are generated from the same assets and cost base.
|
| ||
|
| 6 months to 30 June 2025 (unaudited) | 6 months to 30 June 2024 (unaudited) |
|
| £'000 | £'000 |
Recurring | 3,388 | 2,935 | |
Non-recurring revenue | 253 | 358 | |
Total |
3,641 |
3,293 |
KRM22's revenue from external customers by geography and risk domain is detailed below:
|
| ||
|
| 6 months to 30 June 2025 (unaudited) | 6 months to 30 June 2024 (unaudited) |
|
| £'000 | £'000 |
UK | 1,330 | 1,127 | |
Europe | 343 | 346 | |
USA | 1,775 | 1,654 | |
Rest of world | 193 | 166 | |
Total |
3,641 |
3,293 |
|
| ||
|
| 6 months to 30 June 2025 (unaudited) | 6 months to 30 June 2024 (unaudited) |
|
| £'000 | £'000 |
Trading Risk | 2,017 | 1,666 | |
Corporate Risk | 1,433 | 1,503 | |
Multiple Risk TT Platform | 30 161 | 31 93 | |
Total |
3,641 |
3,293 |
5. Loss per share
Basic earnings per share is calculated by dividing the loss attributable to the equity holders of KRM22 by the weighted average number of shares in issue during the period.
KRM22 has dilutive ordinary shares, this being warrants and options granted to employees. As KRM22 has incurred a loss in both periods, the diluted loss per share is the same as the basic earnings per share as the loss has an anti-dilutive effect.
|
| 6 months to 30 June 2025 (unaudited) | 6 months to 30 June 2024 (unaudited) |
|
| £'000 | £'000 |
Loss for the period attributable to equity shareholders of the parent | (1,580) | (1,224) | |
Basic weighted average number of shares in issue | 36,064,126 | 35,727,187 | |
Diluted weighted average number of shares in issue | 47,409,978 | 46,263,507 | |
Basic and diluted loss per share | (4.4p) | (3.4p) |
6. Intangibles
The Group capitalised £0.6m of costs (H1 2024: £0.6m, FY 2024: £1.1m) representing the development of KRM22's applications during the period, resulting in a net book value of £1.6m (H1 2024: £1.6m, FY 2024: £1.1m).
7. Cautionary statement
This document contains certain forward-looking statements relating to KRM22 plc (the "Group"). The Group considers any statements that are not historical facts as "forward-looking statements". They relate to events and trends that are subject to risk and uncertainty that may cause actual results and the financial performance of the Group to differ materially from those contained in any forward-looking statement. These statements are made by the Directors in good faith based on information available to them and such statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying any such forward-looking information.
Copies of this report and all other announcements made by KRM22 plc are available on the Company's website at https://krm22.com/investors
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