Good afternoon, and welcome to the Diaceutics PLC interim results investor presentation. Throughout this recorded presentation, investors will be in listen-only mode. Questions are encouraged and can be submitted at any time using the Q&A tab situated on the right-hand corner of your screen. Simply type in your questions and press Send. The company may not be in a position to answer every question received during the meeting itself. However, the company will review all questions submitted today and publish responses where appropriate to do so. Before we begin, I would like to submit the following poll, and I would now like to hand you over to CEO, Peter Keeling. Good afternoon to you, sir.
Good afternoon, Alex. Thanks for the handover. Good afternoon, everybody who has joined. Thank you for tuning in to an update to our momentum at Diaceutics. We've spent a good amount of time over the summer months trying to reflect back on the feedback that we get from both these meetings and other meetings, to really try and enhance the story and explain our story better. So hopefully, some of the slides we'll take you through today will be the usual financial updates, but will also incorporate a generous explanation and case studies of what we do. Without further ado, let me dive right in there. Obviously, at the top of the meeting, I just want to talk about the planned CEO transition. No doubt we'll come back to this in the Q&A.
For Ryan and I, this has been a long journey in building Diaceutics alongside each other. He has been a fundamental partner to me in the journey of building the company, key architect of the pillars of growth in the business. And so it was a sort of a natural transition for he and I to sort of hand over. And although the announcement this morning was one of an event for us, this is an event that was much kind of worked on over the years prior. We've also taken some note about strengthening the board. You'll see the addition of a recent Non-Executive Director, Graham Paterson, who has experience on the transaction side.
Again, something that we feel will form part of our future. From my point of view, it allows. These shifts allow me to also focus on supporting Ryan and the team by building out our corporate development footprint of the company. Again, no doubt we'll come back to this later in the conversation. Also coming back in the conversation will be more detail around our results, highlights, and Nick Roberts, our CFO, who joined over a year ago, will be able to take you through this in more detail. I just want to sort of paraphrase that the momentum that we are seeing in our business is no accident.
It really is the result of the endeavors over the last couple of years, both in launching the platform, in enhancing our sales and marketing capabilities, and in innovating into new products, and new features of those same products. You can see here that the reward for that is building revenue, building growth, and building recurring revenue into the platform. We'll expand this in more detail. One of the key features of our business is our focus on our customers, and our customers continue to grow, but we also continue to serve 21 of the top 30 global pharma customers, which we're very proud of at the company. I want to just, for a couple of slides, just take a step back and remind everybody of what it is that we do and what are we doing it with.
At the top of the slide, it says, "We help pharma find patients." And at its pinnacle, that's exactly what we do, and I'll explain in a slide or two why that's important. But how we do it is via the capabilities of three unique assets. Assets that we have grown, innovated, grown, and protected over the last decade or more. The first is a lab network, a unique lab network of laboratories engaged at the frontline of precision medicine, who are working with us, not only to provide data to us, but also to really change testing really quickly at the frontline. Our data repository, which has been amassed again, over a decade, consists of some of the most important laboratory data around patients operating in the marketplace today.
We believe it's the largest repository of testing data, and exactly something that has engaged our pharma customers into a kind of subscription platform business. And the last is our platform itself. So part of everything that we've been doing is integrating our data, our lab network, into a platform that allows us to scale in step with the precision medicine market that is absolutely on the move. I'll talk about that also in a second. And you'll see here on the slide is obviously those who know us will recognize the work that we're doing for our pharma customers, who pay us to find more patients, find more patients daily, identify patients that otherwise would be lost to their treatment. And the return on investment to that is very considerable.
But obviously, labs are a fundamental partner to us in the business, and you can see there on the slide, the value that we're offering to those same labs. Equally, to the physicians that are supporting, that are ordering the testing, is real value, and we're delivering value through our labs back into those physicians, and helping them be more accurate testers and more prompt treaters, if you like. And last, but by no means least, are the patients themselves. Since January of this year, we've identified some 46,000 patients, who could and should be treated in a different way than they were going to be treated as a result of the work that we're doing.
So you can see the stakeholders right across the disk of what we are doing are gaining value by the work that we're doing with those assets. Many of you will know about precision medicine, and I'm not going to purport to give a lecture on that. But safe to say that, you know, 25 years ago, precision medicine started with one drug and focusing on a subset of patients in breast cancer. Today, precision medicine puts its arms around some 200 drugs on the market and over 1,000 drugs that are coming to the market, where a diagnostic and the treatment need to be integrated together. There are some clear market leader desires. In the U.K.
But also there are companies right across the pharmaceutical competitive marketplace who are waking up to the real benefits of reintegrating diagnostics and treatment back in together into their business model. This is a market that's been slated to grow by considerable bounds, and again, you can see that underpinned in our own business. I just want to phrase the challenge that we address here. So once the precision medicine market is growing in terms of the numbers of treatments, there is a problem underpinning this, and that is that the diagnostic ecosystem or the diagnostic pathway for these patients, in many instances, is very, very inefficient. So inefficient that we've, using our own data and collaborating with some of our clients, have benchmarked that some 64% of patients are not getting access to these drugs.
That's a stunning statistic, given the many billions that have been poured into developing these drugs to see that they're being actually denied to the patients who deserve them most. We solve for that problem, and we solve for that problem by using our platform of using our data, using our lab network, to really identify those patients and bring them back into the treatment into the treatment pool. For our patients, that's an obvious benefit. But for our pharmaceutical customers who have been traditionally using some $5 billion per therapy to really regain some of those patients back onto drug, drives return on investment. Practice gaps is what we describe them, is a you know the umbrella term for all of these issues, and we really focus on solving for those issues.
Diaceutics and a system-based play in healthcare is never something that you do overnight, and that has been true here at Diaceutics. Over the last 18 years, we have been deliberately building and laser-focused on building the fabric of a company that can scale and create system-level change. You can see on this slide, the milestones that we've built along the way. Most recently have been the launch of the platform, and the launch of some of the most innovative products in the industry. I'm gonna pause here. I'm gonna hand over to Ryan, who's will take the presentation and lead the company from here. Ryan?
Thank you. Good afternoon, everyone. Ryan Keeling, CEO Designate, of Diaceutics. I'm gonna take a moment just to focus on the business as it sits today, and then talk a little bit about the future. So today we have 161 people spread across 15 countries. We currently work with 21 of the top 30 global pharma customers, and that's not the entirety of our customer base, but it makes up a large part, the majority of what we do. We're very proud of the customer base.
Sorry, Ryan. We just w e've just lost your audio there. So what I'll do is, I'll just... I'm just gonna refresh your browser, Nick. Ladies and gentlemen, bear with me as I just reconnect the team's audio. Ladies and gentlemen, please give me a few seconds to reconnect the team.
Just while we wait for Nick to reconnect, we'll come through. Ryan, we've got your mic open, if you want to say a few words and see if we can pick you up from there, please.
Do you want a test?
Yeah, that's perfect. We can hear you there. Let's just run the test.
It's working?
Yes, that's correct. We can hear you.
Okay.
Thank you very much.
Many apologies, and sorry if you didn't get too much of the previous piece there, but in the interest of time, let me push on. So 2024 onward, here are the areas of opportunity for Diaceutics. Significant growth, a growing market opportunity, precision medicine is growing, and we'll talk to this in a moment. We are positioned for scale. A lot of the investment we've made in technology, in data, in people, is coming to fruition as it pertains to that opportunity for scale in our business. We have multi-year enterprise-wide engagements. As you can see, there are four, but that's continuing to grow and is the ambition on all of our accounts, to grow them into an enterprise level engagement. We have the opportunity to grow beyond oncology.
Today, we are very oncology-focused. It's not exclusively so, but we currently work, of course, in pharma. There's opportunity in biotech, other life science and payers. We have consolidation opportunities in the EMEA, and all along the way, we're evolving the product and building on our platform to give us of many different things, but one of them is an earlier entry into pharma. So Peter talked to the kind of core of our business being around helping pharma find patients, and I just want to touch on our key opportunities, key drivers of the business. We have strong competitive advantage through our very unique assets in our global lab network, our data, our platform. We have a compelling value proposition that's clear, not just with our pharma clients, but with labs, physicians, and increasingly with patients.
We have a significant and demonstrable ROI on our platform. We believe that, and can demonstrate, that every $1 invested in DXRX can return at least $100 back to our customer. I'm gonna walk you through a case study that shows that in a moment. We have financial strength, high margin, order book, which is growing, and has significant visibility into future years. We have our blue-chip clients, three year CAGR of 23%. We're fully funded to execute on our growth plans. We do not need to raise funds in order to execute this plan. And again, our enterprise-wide deals are driving revenue into the business. Track record, we've been in business 15 years. We are absolutely thought leaders and experts in PM and diagnostic commercialization.
We have a proven track record and embedded and trusted PM partner in 21 of those 30 global pharmas. Our solution lineup, as it is today, or at the end of H1 this year, really is split into two. We have our platform solutions in the blue boxes on the left and our advisory services on the right. On the left, we have insight solution. This is predominantly our data play, and we have data products which are in the lab physician, and particularly, I want to talk to the DXRX Signal, which is our latest and vanguard product for Diaceutics. It's very much leading the way as we drive toward recurring revenue and growing our customer subscriptions.
On the right of the platform, we have our engagement solutions, where we're leveraging the data predominantly, but also our laboratory network to build different channels and marketing communication tools to ultimately leverage our data back into the marketplace. What does that mean? It means that on the left-hand side, we might be able to identify a patient eligible for a therapy. On the right-hand side, we can take that data, and we can push it down our lab channel to try to intervene and deliver some education, content, et cetera, or general marketing to assist in bringing that patient online. Our advisory services are to the right here. They're critical to our business. They are absolutely lifeblood to our pharmaceutical clients in terms of t ypically, we start them here.
This is about helping them understand the world that is ahead of them as it pertains to bringing new therapy to market with a diagnostic. That's a great asset for us, also from a business development perspective, to really understand and help our clients understand how they need to go about commercializing their therapy. And our advisory services, as I said, are critical to our business. So I want to talk through a case study here. So again, just a reminder, DXRX Signal is our service whereby we provide data to a pharmaceutical company who has a need to understand where there might be patients that are eligible for their therapy. And when I say where, I mean, we can identify the physician, the doctor who is treating a patient.
Because we have access to the laboratory data for that patient, albeit anonymized, of course, we can provide what is also known in the industry as an alert or a trigger, we call it a signal, to that pharma client so that they can then pass it out to their field team, their sales team, their field representatives, in order to go and talk to that physician about the opportunity to put that this patient onto that particular therapeutic. Typically, that means that they are providing some education and awareness, et cetera.
But the critical piece here, and where this really shines as a model, is where you have a very rare disease or where you have a very competitive market, where it's critical to try to get to that patient very quickly, or where the patients show up so rarely that it's a bit of a needle in a haystack to find them. On our data, it has been proven time and time again to be the best way to find these rare disease patients, rare cancers and others, because in those instances, it's not so much about which doctors we should talk to, it's when should we engage.
If our data is coming into us daily, we can literally have data out to our customers the next day, telling them where these patients are, with enough time that they can still intervene and bring a patient onto drug. Just looking at the numbers on the right here, a quick case study around NSCLC. So this is lung cancer, non-small cell lung cancer, and there's a particular subset of lung cancer patients who have a genetic mutation called a KRAS mutation in a portion of that gene called G12C. And we have visibility of around 15,000 of these patients tested over 12 months that equates to about 291 patients tested per week. Of those patients, we see around 1,300 positive per year, which equates to 27 patients positive per week.
Okay, so we're right down now to a scenario where we can tell the pharmaceutical company where there are 27 positive patients per week. That number seems small, but when you think about the opportunity and the revenue generation to the pharma company for one patient might be $200,000 per annum, finding 27 per week quickly starts to get to be some significant value back into the pharma company. And therefore, we can demonstrate through the data that we provide, we know the additionality that we're bringing to that pharma client in terms of new patients we're finding. And the response we get is really startling as it pertains to the improvement in the ability to find these patients and get them onto drug. It's a great patient story.
It's a great story for the physician because they're treating with more information and potentially putting patients on therapies they may not have otherwise thought of. And obviously, it's a great thing for the pharmaceutical company as they are able to really drive ROI on the back of this data. When we have presented to our investors to other groups in the past, it's typically myself, Peter, Nick, et cetera, who see, but we really wanted to emphasize that Diaceutics is growing and we have a very strong leadership team, which you can see on this slide. And not only are they individually strong, but collectively strong, and they come from industry partners, GSK, Labcorp, IQVIA, Optum. You know, these are names that we are engaging with every day, some of them customers, some of them partners.
To have people in our team who come from this background is really driving opportunity and change within Diaceutics, and we're incredibly proud to have them part of the team. Our strategy is evolving, and there really are four pillars here that we are focused on at this time. We want to continue to enrich our data on platform products. The Signal product I just talked about, so we launched a daily version of that this year. So instead of you getting the data weekly, we can now give it to you daily, and there's an upsell opportunity in pricing. Obviously, different pricing for daily versus weekly. All of our data is tokenized as it comes into us. I'll talk a bit more about what that means in a moment, but it suffices to say that it allows us to scale.
It also allows us to add in more data sources than perhaps we would originally, and we can talk to other data providers at a native level in our data. We have a European Signal development, and we're already piloting that in Europe with more to come this year. Talks to the expansion, not just on the product features, but also the geographic expansion there. Our lab network continues to grow and become key to us, not just as a data source, that it has been historically, but also as an engagement channel for us, where we can leverage the labs, sweat that asset further than we and more than we had in the past, to really start to push information back down to the lab. We have a view that they might be best placed to disseminate that to physicians.
All of this is enabled through the platform of scale and capability, efficiency, automation. We're increasingly using AI for tasks previously would have been very manual in nature. One of the key areas for us is the data coming in is inherently messy data. It's challenging to work with. It's not well-formed. What was previously something that we had to do manually with a team of clinical experts within Diaceutics, now we can train a model and have natural language processing, large language models, et cetera, doing a lot of that work for us. That functionality, that automation is enabling product such as the daily Signal. We wouldn't be able to do that if we hadn't invested in some of that automation.
A big thing for us in Advanced Analytics is the level of customer experience we have. Our pharma clients are very sophisticated. They love our data, but they also like the fact that we are in our own right experts. We can explain the data, we can work with them to understand new and exciting use cases around that data. This year, we've implemented dedicated customer account teams, so we're more plugged into our customers than we've ever been. We listen to them, we work with them, we build for them, and can launch product off the back of that. And as a result, we're being rewarded, we feel, with enterprise-wide engagements. And we really want to drive toward becoming that primary commercialization partner for pharma or biotech who are launching a precision medicine.
The word there being a partner, that's evolution for us. It allows us to do other things that we aren't doing today, and is a big part of our future plan. With that, I'm gonna hand over to Nick Roberts, our CFO, who will talk you through some of our financial metrics.
Thanks, Ryan, and apologies everyone, for the technical glitch. I want to talk to you about a couple of slides, and obviously welcome any questions you might have on the financial health of the business and performance for the half. Firstly, I want to start off with the strength of the business and really build out that investment case that Peter and Ryan have so eloquently put some detail around. So, as a technology provider to the pharma industry, we are positioned as high growth and high margin. And in addition, we have a really strong balance sheet, GBP 17.9 million in cash, as at the end of June, and are fully funded to execute against our high growth strategy.
And on that strategy, and I'll, I'll illustrate this in a bit more detail, we continue to, to deliver. That's both been a transition and an increase in recurring revenue, and securing larger, what we refer to as enterprise-wide engagements. That's whereby we work with a pharma customer and across three or more of their, therapy assets. So we've increased that. To the end of June, we had 4 enterprise-wide engagements, and now, and they're worth now, $20 million. Let me talk to you a little bit about the financial performance for the half, which has been really promising and in line with, with, with our expectations. So, we've seen the, the recurring revenue grow 66% to $4.6 million in the period. That's on, total revenue growth of 32%.
Revenue for the half was GBP 9.9 million, up from GBP 7.5 million in the comparable period. In addition to the significant increase in recurring revenue and in revenue growth, it's really pleasing to see continued order book growth as well. So the order book grew 43%, was GBP 24.1 million, as at the end of June, and positions us really well to deliver on the rest of this year, but into future years as well. And just to highlight, within that GBP 24.1 million of future contracted revenue, 94% recurring, so that's GBP 22.7 million, a significant proportion. And that's gonna help us deliver on our continued transition to being a platform-based recurring revenue model.
Highlighted in the interim results and in earlier results is our ambition to grow to 70% of our revenue recurring in nature by 2025, and ultimately 80% in the years thereafter. I mentioned high gross margin. The gross margin for the half was 88%, up from 84% in the comparative period. And I mentioned already the strong cash position. A couple of finance metrics, not on this slide, but worth just taking a moment to talk about. The EBITDA was a small loss of GBP 200,000 against a profit of GBP 300,000 in the comparative period.
Again, this is as expected, due to our accelerated investment in our strategy, and is in line with management expectations and, and indeed, the consensus guidance in the market. You might remember back in January, we announced the accelerated investment in our strategy. Some of that investment, materializes in the form of additional capitalization, so that's predominantly data spend. That's up to GBP 1.8 million in the half, and we expect that to be around GBP 4.5 million-GBP 5 million for the full year. But some of it, of course, flows through as additional cost base, and we are investing in the business now to secure that top-line growth. We have a revenue CAGR the last three years of, 23%, and we are investing now to secure 20%+, top line revenue growth going forward.
The EBITDA loss, I guess, was worsened slightly by FX losses. We saw sterling appreciate against the dollar in the half. It's rowed back since then, so those losses we're hoping are gonna be stemmed and potentially reversed. But that's just part of our business model. Just to remind you, roughly 80% of our revenue is in U.S. dollars, so heavily focused in U.S. dollars. In addition to the EBITDA, we saw a slight widening in our loss before tax and cash outflows. But again, both in line with management expectations and in line with the consensus guidance. And of course, just to highlight, those investments are key to us realizing our growth potential going forward.
And we finished the half, as I mentioned, strong balance sheet. I think really important in this economic climate to highlight no debt, and cash balances of GBP 17.9 million. And I'll just take a moment to talk about some of the operational highlights as well. Since we announced our accelerated investment in our strategy, in January of this year, we continue to make really good progress in the half, against that. Some of the key areas, enriching our data and product offerings, and investing in our platform scale and capability.
Ryan's already talked to this, but just to highlight again, the launch of DXRX Signal, tokenization of our database, and embedding AI technology such as natural language processing, is really helping us optimize and being able to scale our data solutions and our engagement solutions to our pharma customers. We have now over 30 Signal products with our pharma customers and a high renewal rate in the period. We've highlighted on this slide 86% Signal renewal rate. That was on relatively low numbers in the period, and we expect to continue to report that metric and for it to go up over time.
And just to highlight also, we service 50 therapies across 37 customers, continue to increase that period on period, and now have 33 therapies under management with a lifetime revenue over $1 million. We've continued to accelerate our lab network engagement and growth. Relatively modest increase in the number of labs on network in the period, up to 900. But I think really important to highlight that, just after the period end, we launched a US virtual lab event. There were over 1,000 participants on the day. That is a perpetual live event as well, so participants can go back and re-engage with the content, as can new participants. And we see that as being a huge draw for lab engagement and lab recruitment going forward.
So we'd expect to see that lab, 900 labs on network accelerate into H2 this year and into 2024. And really, just to reiterate Ryan's point earlier, we continue to look to transform our customer experience and service. We've invested in our account teams, recruiting experts within precision medicine, but also data analysts, to be able to nurture those customer accounts, bring them on, bring on new therapy teams, and also look for cross-sell opportunities within our pharma customers. We have nine account teams, and up to 161 staff, including four VPs, really adding to the strength and depth of the management team. And that was all done in H1 of this year, and we'll continue to build on those teams and that expertise.
I'll pass over to Ryan now just to talk about the outlook and future growth.
Thank you, Nick. This is our last slide, and I just wanted to take a moment to reaffirm some of the, the things that we've talked about, and, and really look at that outlook on future growth. Where, where we are as a business today, we are very focused on capturing that significant and growing market opportunity. Hopefully, everything you've heard today talks to how the different investments we've made, the, the strategy we have, is all coming together. It's culminating at a time when we feel the market is there for us, and we're positioned to scale rapidly and profitably now going forward. Our multi-year enterprise-wide engagements are a initial view into what that world can look like for us, where we have recurring revenue, providing good visibility, continuing growing high margins, et cetera.
With the opportunity to grow beyond oncology, obvious what that would mean for us, but the NF therapies, the NF brands, the NF clients beyond what we would call our core business today, is both. We've enriched now . We've made those investments. We've been able to automate the data. We have done a lot of the scale preparation to really properly push in to other therapeutic areas that have not been the norm for us to date. We have expansion beyond our current sector of just pharma into biotech, other life science payers. We have consolidation and growth in the EMEA and other markets where we're still growing. In fact, we're still growing in all markets. Our platform solutions continue to grow. You've heard today about DXRX Signal, engagement solutions.
These are new enhancements, new features, new opportunities to re-engage with our customers, have them take more from us, or indeed fill in the gaps for those who might not have been working with us previously. And the opportunity to get earlier entry points into pharma. We didn't talk a lot about this, but a lot of the data capabilities we have, which are applicable post-marketing, post-launch of a drug, are really enabling and useful to pharma at the earlier stages of their clinical program. So sitting today, we have a highly scalable platform, and that platform comes with DXRX, but also Diaceutics as a whole, can deliver upwards on $100 in additional therapy revenue for every $1 invested via the platform.
We have all of these other things coming toward us and, and amalgamating into an opportunity that is very present, very much in the now, and, and allows us to be very bullish and, and confident in the outlook and future growth for, for Diaceutics. Thank you for your time, and we're gonna now move to some Q&A.
Perfect. Peter, Nick, Ryan, thank you very much indeed for your presentation.
How are you guys? Can you hear me, hear me in the room?
Yeah. We're ready for questions.
Perfect. Thank you. Ladies and gentlemen, please do continue to submit your questions using the Q&A tab situated on the top right corner of your screen. While the company take a few moments to review those questions submitted today, I would like to remind you that a recording of this presentation, along with a copy of the slides and the published Q&A, can be accessed via your Investor dashboard. Peter, Nick, Ryan, as you can see, we have received a number of questions throughout today's presentation. If I may start the Q&A session with the following question: Have you completed the investment required, and will future revenue growth translate into accelerating profits?
Yes. Thank you, and It's Nick Roberts. I'd like to take that question. So, the short answer is no, but we're making really good progress. So, you might remember back in January, we detailed some of our accelerated investment plans. As part of that, we detailed that over 2023 and 2024, we'd see a free cash outflow of around about GBP 7 million over that period, but not taking our cash balance below a minimum cash holding of GBP 12 million. Some of that spend, as I mentioned earlier, is capitalized spend, and that's really important spend on data, acquiring the right data assets for us to be able to derive these really important insights and then commercialize that with pharma.
And part of that is accelerated investment in our cost base, predominantly people, some of it technology. That will continue through 2023 and 2024. To give you an idea of quantum, we'd expect to see the EBITDA margin come back slightly to around about 10%-12% through 2023 and 2024. Thereafter, we'd expect it to release again, increase back up as we start to realize that growth and scale. So really important to say that this investment is very focused, it's very disciplined. A lot of the spend this year has been gated and is dependent upon revenue growth. But that revenue growth has been strong, as we've seen earlier.
We've decided to carry on investing in the business to make sure that we maintain that 20%+ top line growth and secure the biggest opportunity possible with our customers.
Perfect.
Thank you.
Perfect. Thank you, and perhaps one for Peter. What will Peter be doing in his Executive Director role?
Yeah, thank you. I think the best way to answer this is to look at what's going on in precision medicine, and those who follow this space will recognize the dynamic energy that I think is coming into precision medicine. Not just by the pharmaceutical industry, but payers revisiting how diagnostics will help them manage costs and you know, patient impact. The role of diagnostic companies, the role of big data companies coming into the space. All of that really surrounds Diaceutics in the world that we're in. And what we've identified here is an opportunity to take what we've built at Diaceutics and really drive impact at a larger scale.
To do that, by handing over the reins to Ryan to drive forward the core business. It also allows me to focus on exploring what those partnerships might look like for Diaceutics. How we can take what we've done and overlay it with the channel and the capabilities of others to really drive impact. Another key component are potential acquisition opportunities, things that will complement and can be bolted onto the side of our business. Again, having the space and the executive capability to go after and look at that are some of the things that I will focus on. Obviously, taking the lead from Ryan and the Executive team on what's the priority is to the business.
But hopefully, that gives some definition to the role that I will spend my time on.
Perfect. Thank you, Peter. The next question is: Who will be taking up the important role of CIO, and what are their credentials after Ryan moves on to the CEO position?
Yes. Thank you. I'll take that. So obviously, one of the advantages of how we have organized this transition is that we've been planning it for years, and we've been carefully selecting the right people to come into the business to ultimately allow me to move to this role, but also succeed in the role behind me. So we have, as part of the personnel that we've hired through, not just this year, but previous years, we've brought on and strengthened the business with a number of VPs that have product marketing and other relevant skill sets as part of their core.
Specifically, we're gonna make some changes at our executive team, and we're going to create a new role on the Executive team, a Chief Commercial Officer, and one of our existing colleagues is gonna take on Chief Data Officer. So there's a business splitting of my responsibilities across those two ExCo colleagues, and they will be in turn supported through the new VPs and other hires that we've made across the business. Again, we've been doing this, building the strategy here to enable this, for quite some time. And it's one or two pieces left to put together, which we'll do here through quarter four.
Perfect. Thank you. The next question is: Are you seeing incoming inquiries from those nine majors that are not users of the platform?
Yeah, so, it's Nick Roberts. So, I'll answer that. I think what we're referring to here is, we detail, we work with 21 of the top 30 global pharma companies, which is a great number. To put it in a slightly different way, we're working with 18 of the top 20 within North America and Europe. So a very strong presence in what I would say are our really strong and consolidated fields of expertise, being across Europe and North America. Interestingly, the two we're not currently working with, we have worked with in the past, and are actively engaging to try and move them on to more platform, recurring, multi-year revenue. Of the global top 30 global pharma companies , as you can imagine, there's quite a few in Asia, including China.
Those are areas we're looking to expand into. We do work with some large pharma, particularly in Korea and Japan, but there is work to do there, I think, expanding our customer base in Asia. And we'll look to do that as we build out our capabilities.
Perfect. Thank you, Nick. The next question is: When do you expect to see an acceleration in revenue per brand from the current 8%?
Yeah. So again, I'll take that one. I think, yeah, it's right to say the 8% is modest. I think what we've seen is the number of brands we're working with increase. And that's really important for us, alongside building out an order book and a shift to recurring revenue. Yes, we want to build the revenue per brand. That is really important. But we also want to increase the number of brands we work with across pharma. I mentioned those four enterprise-wide engagements. They're really important growth proof points for us as we continue to grow. And we'll look to extend that and add more enterprise-wide engagements, five, six, seven, over time.
What we are immediately looking for, as part of the account team strategy, is to consolidate our existing customer base and expand out in the number of therapy teams that we're working with within pharma. We will, of course, look to increase the number of brand per therapy, and we do that through adding additional insight data product, but also, where we're not offering engagement and advisory solutions, expand out into those additional areas. And that's gonna add and increase the spends or the revenue per brand over time.
Perfect. Thank you, Nick. And perhaps one last question here from Matthew: Do you expect to be able to continue growing rev per brand over the long term? If so, what are the potential drivers to achieve this?
Yeah. So I think I partly touched on this with the prior question, but let me just expand on it a little bit. There was a slide earlier in the deck which showed our three areas of product offering, what we call our verticals internally. Our enterprise-wide deals have, at this point, exclusively been within the insights, the data fields, and really driven by the Signal product and the upsell opportunities that are in there. I think what we're seeing through pharma, and I think what Peter articulated really well earlier, is that pharma are looking for the next digital opportunity to help commercialize their drugs.
So where Signal is a very good product at highlighting where a lost patient opportunity is for our customers, normally, our customers are relying on deploying field reps in the U.S. to go and call on physicians to try and get them to prescribe their drug. We're offering, through our engagement solutions, a digital communication channel through labs, through our affiliate physician network, to try and offset some of that rep field force and get more physician prescribing rates up, I guess. So I think that is naturally the area we're gonna look to try and drive. We've seen good engagement solution revenue growth in the half compared to the comparative period. And we'll continue to drive engagement solutions.
Those solutions have been built over the last year or so, and we're really looking to push forward with commercializing them.
Perfect, Nick. That wraps up the Q&A session. Thank you for addressing those questions from investors today. Of course, the company can review all questions submitted today, and we'll publish those responses where appropriate to do so. But before redirecting investors to provide you with the feedback which is particularly important to the company, Ryan, could I please ask you for a few closing comments?
Yeah. Just, first of all, thank you everyone for attending today. Sorry that there was a bit of audio issue in the middle, but we feel this is a great set of results for the business, not only in terms of our financial metrics, but also on what we've been able to achieve in the half. As I said previously, we feel we're at a very specific place in our business evolution, where everything's coming together. We feel we have a robust and scalable model and a client list that is growing and very eager to work with us. A great team coming together, and well supported financially in terms of the plan that we have and the growth that is sitting in front of us.
So all those things coming together, for me, coming in as effectively a new CEO, I couldn't ask for a better strategy and a more robust set of building blocks to drive forward. And my goal and the goal of the team back at base is to not just drive to where this organization needs to go, but to do that swiftly and really deliver on our promise to patients, 'cause that, at the end of the day, is absolutely at the core of everything we do. Thank you, everybody.
Perfect. Ryan, Peter, and Nick, thank you once again for updating investors today. Could I please ask investors not to close this session, as you'll now be automatically redirected to provide your feedback, in order that the board can better understand your views and expectations. This will only take a few moments to complete, and I'm sure will be greatly valued by the company. On behalf of the management team of Diaceutics PLC, I would like to thank you for attending today's presentation, and good afternoon to you all.
Thank you.
Thank you.
Bye-bye.