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Inspiration Healthcare Group (IHC) investor relations material
Inspiration Healthcare Group H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record H1 FY26 revenue of £24 million, up 41% year-over-year, driven by large export contracts (Middle East, UNICEF) and underlying growth in neonatal products across international and UK markets.
Returned to profitability with adjusted EBITDA of £1.3 million (vs. £0.9 million loss last year) and operating profit of £0.2 million (vs. £3.2 million loss prior year).
Generated £3.6 million in operating cash flow, reversing a £2.3 million outflow last year, and reduced net debt by £1.6 million to £6.7 million.
Completed transition of consumables manufacturing to Asia, resolved supply backlogs, and advanced ERP system re-engineering for operational efficiency.
Strategic focus on brand realignment, operational improvements, and international expansion, especially US market entry for SLE6000 ventilator.
Financial highlights
Revenue reached £24 million (+41% YoY), with £6.5 million from two major export contracts; gross margin improved to 46.2% (up from 43.5%).
Adjusted EBITDA of £1.3 million (vs. £0.9 million loss); operating profit of £0.2 million (vs. £3.2 million loss); cash from operations £3.6 million.
Net debt reduced to £6.7 million (down from £8.3 million at year-end); inventory reduced by over £2 million to £11 million.
Underlying international sales grew 12%, while UK/Ireland sales increased 2%; infusion product revenues declined 8% due to distributor destocking.
FX loss of £0.5 million due to USD weakness on export contracts.
Outlook and guidance
Confident in meeting full-year market expectations, supported by a strong order backlog and opportunity pipeline.
Second half to benefit from remaining Middle East contract delivery and new international orders.
Focus on US and Asia-Pacific expansion, SLE6000 FDA submission in H2 2026, and H1 2027 launch.
U.K. business expected to show mid-single digit growth for the full year.
Operational and organizational changes to drive efficiency and leadership accountability.
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