GenIP Plc

("GenIP" or the "Company")

Half year report

GenIP plc (AIM: GNIP), a provider of AI-driven services to help research organisations and corporations commercialise their innovations, announces its unaudited interim results for the six months ended 30 June 2026 ('H1 2026').  

Business Highlights

·    Broader client adoption and increased repeat usage across academia, government innovation bodies and corporate Research and Development, diversifying and strengthening the customer base.

·    Expanded commercial coverage across Asia and Latin America through regional business development appointments.

·    In April, the Company announced a strategic alliance with Cardinal Intellectual Property, supporting GenIP's acerated access to the US market.

·    Continued progress in transforming the Company since its Initial Public Offering in 2024 into a credible participant in the rapidly developing AI-enabled innovation-intelligence market.

Financial Highlights

·    Revenue of $53k (H1 FY25: $76k, excluding one-off Saudi contract*).

·    Gross margin of 6% (H1 FY25: 18%).

·    Adjusted EBITDA loss of $692k (H1 FY25: $561k).

·    Cash at period end of $410k.

·    $470k (£350k) equity placing in April 2026, with funds deployed to improve commercialisation of partnerships and alliances, and to continue product development.

*FY25 revenue benefited from a one-off order from Saudi Arabia of $368k which is excluded to provide a more meaningful like-for-like comparative. 

Post-Period Highlights

·    New customer orders across Chile, United Kingdom and North America.

·    Ongoing platform enhancements supporting improved delivery, efficiency and scalability.

·    In August 2026 the Company signed a new Talent Search engagement contract, providing early evidence that the repositioning is gaining traction and resonating with clients.

Melissa Cruz, CEO of GenIP, commented:

"Our focus for the first half of 2026 has seen us continue our current relationships and establishing repeat and recurring revenue streams, and I am pleased with the progress we have made to date in this regard. With support from the funds of the April 2026 placing, we have accelerated platform development, improved commercialisation, increased automation and expanded our proprietary datasets, putting the business in a stronger position going forward.

"The Company enters the second half of FY26 with a good pipeline, deeper client engagement and increasing industry recognition. While first-half revenues reflect the absence of last year's exceptional contract, underlying indicators are positive and aligned with the Company's development stage. GenIP remains focused on disciplined execution, technology development and commercial conversion."

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

For further information regarding GenIP, please visit www.genip.ai, or contact:

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

About GenIP

GenIP is a next-generation business at the intersection of generative AI and innovation strategy. We empower corporates, venture funds, and research institutions to evaluate, commercialise, and scale breakthrough technologies. By combining proprietary GenAI algorithms with expert human analysis, GenIP delivers decision-grade insights and talent solutions that accelerate innovation outcomes.

Service Offerings

GenIP operates through two synergistic service lines:

Together, these services form a unified GenAI-enabled platform for innovation triage and execution.

Vision & Strategy

GenIP aims to become the global leader in generative AI analytics for innovation commercialisation. Our strategy is anchored in three growth pillars:

·    Organic Expansion

Scale Invention Evaluator and Recruitment Services through targeted outreach to corporates, VCs, and research institutions, supported by strategic marketing and digital engagement.

·    Service Deepening
Enhance functionality and margin by expanding GenAI capabilities within both service lines-unlocking new use cases and customer segments.

·    Strategic Acquisitions
Pursue bolt-on acquisitions of complementary GenAI services with validated market traction to broaden our offering and accelerate growth.

Chairman's Statement

FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2026

The first half of 2026 has been a period of consolidation for GenIP as we continue to build a company with a defined role in the fast-developing field of AI-enabled innovation-intelligence. GenIP joined AIM as a young business with a clear vision but substantial work ahead to establish its technology, product range and market position. Much of this foundational development has continued throughout FY26, while the Company has simultaneously broadened its commercial activity and strengthened its relationships across academia and industry.

Engagement with academic institutions, government innovation bodies and corporate R&D teams continues to strengthen. GenIP's AI-enabled Invention Intelligence Suite is increasingly recognised as a practical and scalable tool for evaluating research outputs and supporting early-stage commercialisation decisions. We are encouraged by the increased engagement and confidence shown by clients returning for further work.

As Chairman, I was pleased to host a round table held in June attended by senior representatives from leading UK universities and research organisations. The discussion provided valuable insight into the challenges faced by academia and highlighted the constructive role GenIP can play in supporting them. GenIP's increased presence at industry events and innovation forums has enhanced visibility and supported pipeline development as well as highlighting the growing need for a structured, data-driven innovation-intelligence tool. These engagements reinforce the Company's reputation as a credible participant in the innovation-intelligence ecosystem and help shape our understanding of emerging client needs.

The broader environment remains favourable. Governments are investing in national innovation programmes; universities are seeking more structured evaluation of research outputs and corporations are increasingly focused on identifying commercially viable technologies within their R&D portfolios. GenIP is well positioned to benefit from these trends through its differentiated product suite, expanding international reach and disciplined operational approach.

On behalf of the Board, I would like to thank our shareholders, clients and employees for their continued support. We look forward to the remainder of FY26 with confidence as GenIP continues to build momentum and strengthen its position in this important and rapidly growing market.

Lord D L Willetts

Independent Non-Executive Chairman

CEO Statement

FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2026

The first six months of 2026 have been a period of steady operational progress for GenIP as we continue to build a

scalable, globally relevant innovation-intelligence business. Since IPO, the Company has been developing its technology, product range and market presence from what was effectively a seed-capital starting point. Much of this foundational work has continued throughout H1 FY26, while we have also expanded commercial activity, strengthened client relationships and advanced our technology platform.

Commercial activity and market positioning

GenIP entered FY26 with a broader client base and the underlying commercial picture is encouraging. We have seen wider client adoption, increased repeat usage and a more diversified spread of smaller engagements across multiple regions. These patterns are consistent with a young company building out its platform, establishing credibility and developing a more stable commercial rhythm.

During the period, we secured new engagements across Latin America, Africa, Europe and Asia, demonstrating the global applicability of our AI-enabled evaluation tools. Repeat usage from clients in Brazil, Chile, South Africa and the UK shows that our products are becoming embedded in institutional innovation workflows.

FY25 revenue was materially influenced by a one-off $368,000 engagement in Saudi Arabia which was exceptional in both scale and scope, accounting for 70.8% of total revenues for the financial year. While this project demonstrated the Company's capability to deliver complex innovation-intelligence work, at scale, it also distorted year-on-year comparisons and affected margin performance, as lower volumes reduce the operational leverage that benefits Gen IP's delivery model.

On a like-for-like basis, excluding this exceptional order, revenues for the first half of FY26 are marginally down from H1 2025 however we are engaged in a larger number of active discussions, with a broader range of institutions, and clearer visibility on prospective conversion rates for FY26. We remain disciplined in our expectations and the quality and maturity of the pipeline provide confidence in the outlook for the remainder of the year.

Product development and technology platform

Enhancement of our AI-powered product range remains a key focus. The Competitive Intelligence, Invention Prioritizer and Invention Validator tools launched in late FY25 have seen encouraging early adoption, supporting strategic decision-making, portfolio prioritisation and commercial readiness assessments.

During the period, we progressed several areas of platform development:

·    Expansion of our proprietary innovation-intelligence dataset

·    Refinement of AI models to improve accuracy and reduce processing time

·    Introduction of workflow automation features to support multi-stage evaluation processes

·    Strengthening of internal delivery tooling to support scale and consistency

These investments are essential to maintaining product leadership and enabling delivery of higher-margin, repeatable services. They also reflect the Company's ongoing transition from early-stage development to a more mature, scalable technology platform.

Strategic developments

During the period, we continued to build out our broader commercialisation capability and expand our network of strategic partnerships with innovation agencies, research institutions and technology-transfer organisations. These partnerships support pipeline development, market access and product validation, particularly in regions where national innovation programmes are accelerating demand for structured evaluation tools.

We strengthened our international positioning through a new alliance with Cardinal IP, a long-established and highly regarded provider of patent search and IP review services in the United States. Cardinal is recognised by key US Government offices for its role in supporting patent examination and prior-art search processes. This alliance provides GenIP with enhanced visibility in the world's largest IP market and creates opportunities for collaboration, knowledge-sharing and future commercial development.

The repositioning of Vortechs as Talent Search has also improved our offering across the innovation lifecycle and is steadily gaining traction.

Equity placing and investment

We continue to invest in our technology platform, dataset expansion and internal systems. These investments are essential for a business at this stage of development and will support scale, improve margins and ensure GenIP remains competitive in a rapidly evolving market. The £350,000 equity placing completed in April 2026 has strengthened the Company's financial position and provided additional resources to support product enhancement and commercial expansion.

We expanded our dataset, advanced AI model development, strengthened internal tooling and increased commercial capability in key markets. These investments are already contributing to improved operational efficiency and enhanced product performance as we continue to build the infrastructure required for scale.

Outlook

The outlook for the remainder of FY26 is grounded in a realistic assessment of both market conditions and the Company's own development stage. While revenue in the first half reflects the absence of last year's exceptional order, the underlying commercial indicators are positive: a broader client base, deeper engagement with existing customers, and a materially stronger prospect pipeline than at the same point last year.

The Company's technology continues to mature, supported by continued platform development, increasing industry recognition, and strategic partnerships such as the alliance with Cardinal IP which are expanding our reach and credibility. These factors collectively support confidence in the Company's ability to convert its growing opportunity set into future revenue.

Our focus for the second half of the year remains to be disciplined execution; progressing active opportunities, strengthening delivery capability, advancing the technology platform and continuing to build the foundations required for long-term scale.

On behalf of the board

Ms M Cruz

CEO

CFO Statement

FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2026

The financial performance for the six months ended 30 June 2026 reflects the realities of a young company still building out its technology, product range and commercial presence following its seed-stage IPO. As anticipated, the absence of the one-off $368,000 Saudi order delivered in FY25 has had a material impact on the comparison of reported revenue and margin performance in the current period and created a distortion in year-on-year comparisons. For this reason, a like-for-like assessment provides a more accurate view of underlying performance.

Financial Highlights - adjusted for the removal of revenue incurred from the Saudi engagement

Financial Highlights - unadjusted - period ended 30 June 2026

Revenue

Revenue for the period was generated entirely from the Company's core AI-enabled innovation-intelligence and commercialisation services. New engagements were secured across Latin America, Africa, Europe and Asia, supported by repeat usage from existing clients. The prospect pipeline at the end of the period was materially stronger than at the same point last year, providing increased confidence in conversion opportunities for the second half.

Gross Margin

Gross margins were lower than the prior year, reflecting the impact of reduced volumes. The Company's delivery model benefits from operational leverage, and lower revenue naturally limits margin expansion. However, underlying operational efficiency continues to improve. Investments in workflow automation, dataset expansion and internal delivery tooling have reduced processing time, improved consistency and strengthened the scalability of the Company's evaluation workflows. These enhancements will support margin progression as volumes increase.

Operating Costs

Operating costs increased modestly, driven by continued investment in product development, technology infrastructure and commercial capability. These investments are essential for a business at this stage of development and align with the Company's strategy of building a scalable platform capable of supporting long-term growth.

Capital Raise

In April 2026, the Company successfully completed a £350,000 equity placing with new and existing investors. This raise should be viewed in the context of GenIP's development journey: the Company entered AIM at an early stage, with significant work required to build its technology, dataset, product suite and market presence. The placing represents another step in funding that development. Proceeds are being applied to:

·    Technology platform development, including dataset expansion and AI model refinement

·    Product enhancement across the Invention Intelligence Suite

·    Strengthening commercial capability in key markets

·    Working capital to support delivery and operational resilience

The raise has strengthened the Company's financial position and provides the flexibility required to progress its roadmap during FY26.

Cash Position

The Company ended the period with a stable cash position, supported by disciplined cost management and the proceeds of the April placing.

Share based payments

Share based payments to incentivise and retain key personnel, together with options and warrants granted have been valued using the Black-Scholes model with the fair value of these payments, warrants and options being expensed over the vesting period.

Total share-based payment expense $62k recognised in the period ended 30 June 2025 ($62k in the period to 30 June 2025; $124k in the year to 31 December 2025).

This ensures cost efficiency while rewarding performance, enhancing alignment between management and shareholders.

Going Concern

The Directors have assessed the Company's going concern position using detailed trading and cashflow forecasts, including reverse stress testing and have considered the potential impact of delayed customer receipts alongside the £350,000 ($470,000) fundraise completed on 30 April 2026.While the Company's early stage/seed capital position in a fast moving market gives rise to a material uncertainty that may cast significant doubt on its ability to continue as going concern, the Board has developed appropriate mitigation plans and has a reasonable expectation that the Company will continue to meet its obligations and operate as a going concern.

Performance against KPI's

GenIP Plc tracks several financial and operational metrics, including:

·    Revenue Growth: Expanding client acquisition

·    Gross Margin: Improving cost efficiency

·    Cash Flow Management: Maintaining liquidity

·    Client Engagement: Strengthening relationships across sectors

The Key Performance Indicators (KPI's) listed below represent those that are typically applied to technology service companies and serve as a starting point for evaluating the Company's performance and guide decision making, to ensure long-term sustainability.