Aquis Exchange PLC (AQX.L) is pleased to announce its audited results for the year ended 31 December 2018.
- Revenue increased 100% to £4.0 million (2017: £2.0 million)
- Adjusted EBITDA* loss of £2.7 million (2017: £3.3 million loss)
- Cash and cash equivalents of £11.6 million (2017: £4.0 million)
- Successful listing on AIM completed on 14 June 2018, raising £12.0 million for the Company
- Trading Members on Aquis Exchange grew from 24 to 27 during the period
- Market share of overall pan-European continuous trading grew over the period to 3.8% 4Q18 (1.9% 4Q17), and strengthened further in the year to date
- Aquis has continued to grow its software licence activities across a number of asset classes
- Post period end trading is in line with market expectations
* Excludes exceptional costs relating to the IPO
Alasdair Haynes, Chief Executive Officer of Aquis, commented:
"2018 was a transformational year for Aquis. Revenue has doubled in comparison to the prior year, reaching £4.0 million, and we finished the period with close to a 4% market share of overall pan-European continuous trading. The exchange has grown both its number of trading members and the average value of monthly subscriptions and, alongside this, interest in Aquis' world-class exchange trading and surveillance technology continues to increase. Our IPO has accelerated us in our journey to transform the European equity trading landscape and provided a secure platform for future growth.
Despite the near term challenges presented by Brexit, we are confident we are well positioned for the period ahead, particularly given that we now have a presence in France established to allow uninterrupted service in any eventuality. We also believe we are well placed to benefit from additional regulation, given our robust and agile business model, our lean cost structure and our technology leadership. The Board is confident there remains enormous potential for our exchange model to disrupt further incumbent trading models and win more market share across Europe."