CelLBxHealth (CLBX) investor relations material

Executive summary

• Transitioned from a research-focused to a commercially driven, partner-led model, prioritizing near- and medium-term revenue through partnerships and lab services, with a rebrand and new leadership team.

• Significant operational restructuring, including a reduction in headcount by over 60% and consolidation to a single site, to optimize costs.

• Secured key partnerships with AstraZeneca, AdventHealth, and NHS, anchoring future revenue streams and driving commercialization.

• Positioned as a leader in circulating tumor cell (CTC) technology, addressing unmet needs in oncology diagnostics and drug development.

• Strengthened board and management team through new non-executive directors.

Financial highlights

• 2025 revenues were GBP 1.4 million, down from GBP 2.9 million in 2024 due to slower commercial conversion.

• Gross profit margin held at 62%.

• Operating loss of GBP 19.2 million, including GBP 3.8 million in one-off impairments and GBP 1.2 million restructuring costs.

• Loss after tax was GBP 19.5 million, compared to GBP 14.2 million in the prior year.

• Successful fundraise in December 2025 raised GBP 8.4 million gross (GBP 7.4 million net), with GBP 7.3 million cash at year-end and GBP 4.3 million at end of Q1 2026.

Outlook and guidance

• Targeting a 50% increase in revenues for 2026 versus 2025 and positive EBITDA by late 2028.

• Cash burn reduced to less than GBP 0.5 million per month post-restructuring, with annualized operating costs expected to fall to GBP 5.5 million in 2026.

• Gross margins targeted at 65% in 2026.

• Funded through Q2 2027, with additional funding options including equity, collaborations, and non-dilutive sources.

• Focus on strict cost control and efficiency while driving commercial revenue.