Imaging software developer Median Technologies saw its revenue rise in the first half of fiscal 2015, but the company's net loss also expanded.
For the six-month period (end-30 June), total revenue increased 106% to 1.4 million euros, compared with 697,000 euros for the first half of 2014. Half-year net income came out to -2.4 million euros, compared with -2.2 million euros for the first six months of 2014. This is due to higher operating income for the first half of 2015 (-3 million euros) following an increase in higher operating expenses, which at 30 June stood at 4.5 million euros, compared with 2.9 million euros for the first six months of last year.
However, Median successfully completed a new round of financing in July, obtaining a commitment from seven foreign institutional investors, led by Abingworth, to purchase 19.8 million euros of the company's common stock.
