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Ultrasound artificial intelligence company Intelligent Ultrasound said it expected to report narrower annual losses but lower revenue owing to a pandemic-led hit to its simulation division.
The operating loss for the year ended 31 December, was expected to have improved by over 8%, to between £4.1 million and £4.2 million, from a loss of £4.6 million year-on-year.
Selling and marketing cost reductions helped to minimise the impact of lower revenues, the company said.
Revenue fell was expected to fall to £5.2 million from £5.9 million, an 11% decline that was 'entirely due to the impact of the global pandemic,' the company said.
Sales in Europe and Asia, made through the group's reseller network, were impacted by Covid-19 restrictions and expected to have declined to £1.4 million from £2.6 million, it added.