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Cyclopharm (CYC) investor relations material
Cyclopharm H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record group revenue of $32.3m in FY2025, up 17% year-over-year, driven by US TechnegasⓇ sales and strong third-party distribution growth.
US TechnegasⓇ revenue surged 226% year-over-year, making the US the largest single market for the product.
Net loss after tax was $17.2m, reflecting significant investment in US market expansion and foundational infrastructure.
Third-party distribution revenue rose 26% to $15.6m, providing diversification and recurring revenue.
TechnegasⓇ is now available in 67 countries, with regulatory approval in Colombia secured in December 2025.
Financial highlights
Group revenue: $32.33m (up 17% from $27.57m in FY2024).
TechnegasⓇ revenue: $16.69m (up 10% year-over-year).
Third-party distribution revenue: $15.63m (up 26% year-over-year).
Gross margin: $17.9m, stable year-over-year despite evolving revenue mix.
Underlying EBITDA: $(15.4)m (vs. $(11.9)m in FY2024).
Diluted loss per share: (15.64) cents (vs. (12.83) cents in FY2024).
Net cash balance at year-end: $6.6m (down from $20.6m in FY2024).
Outlook and guidance
Reaffirmed guidance for 250-300 US TechnegasⓇ installations in the second half of 2026.
US market expected to drive exponential growth, with a total addressable market of over US$1 billion annually (US$180m for PE, US$900m for 'Beyond PE' applications).
Additional $14m capital raised in Q1 2026 to accelerate US expansion, manufacturing, and clinical development.
Ongoing investment in next-generation TechnegasⓇ technology and expansion into broader respiratory indications.
- Record revenue and US expansion drive strong recurring growth and global market leadership.CYC
Investor Update26 Dec 2025 - Record revenue growth and USA expansion drive outlook, with guidance reaffirmed.CYC
H1 202520 Oct 2025 - US reimbursement and first sales fuel Technegas demand and global expansion prospects.CYC
H1 202413 Jun 2025 - Record sales and US expansion drive growth, despite higher net loss from investment.CYC
H2 20245 Jun 2025
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