Aquis Exchange (AQX ) announced audited results for the year ended 31 December 2022 (FY22), reporting net revenue up 24% to £20.1m, pretax profit up 27% to £4.5m, and pretax profit + other income up 41% to £4.7m, compared to FY21.
Basic EPS remained unchanged at 17p. Cash and cash eq also remained roughly unchanged from last year at £14.2m with no debt held.
Membership of Aquis Markets grew to 41, compared to 38 in FY21. Aquis introduced the 24/7 Matching Engine to its exchange technology and launched the Aquis Matching Pool (AMP), diversifying its markets offering into dark pools.
So far in FY23, Aquis is trading in line with expectations, having completed a rebrand in 1Q23.
Alasdair Haynes, CEO, commented: "I am very pleased to be reporting another year of significant growth for Aquis, with net revenue up 24% and underlying profit increased by 41% from FY21. The Group profited from significant growth in the technologies division, along with strong performances in pan-European secondary market trading, the primary market activities of Aquis Stock Exchange and data revenue."
View from Vox
Aquis reported another strong year of growth, which on an underlying basis equates to a 41% increase in profit to £4.7m. The company saw notable increases in technology licensing revenue, while its stock exchange, AQSE, generated a profit ahead of schedule.
Aquis Technologies strengthened its offering in 2022 through the launch of AMP, its new dark pool activity, as well as its cloud-native 24/7 functionality. As a result of these innovations, the company recorded 22 new IPOs on the Aquis exchange - the most of any growth exchange in the UK. The number of trading members also grew from 38 to 41, leading Aquis Markets revenue to rise 15% to £12.4m.
Aquis reported a further pipeline of 50-60 companies looking to IPO, suggesting that growth will continue at pace in 2023. So far in FY23, the group is trading in line with market expectations, and is well capitalised with £14.2 in cash and no debt.
Reflecting increasing diversification across its 3 business units and 4 revenue streams, Aquis implemented a rebrand in Q1 23. The company now consists of Aquis Markets (formerly the Aquis Exchange business), Aquis Technologies, and Aquis Stock Exchange.
Follow News & Updates from Aquis Exchange: