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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.
Logotype for Inspiration Healthcare Group PLC
H1 2026 earnings summary7 Oct, 2025

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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Frequently asked questions

Inspiration Healthcare Group PLC is a UK-based medical technology company that provides products and services for use in critical care and operating room environments. The company specializes in neonatal intensive care, offering solutions such as respiratory support, thermoregulation, and infusion therapy. It also supplies equipment for surgical procedures and patient monitoring. The company is headquartered in Crawley, United Kingdom, and its shares are listed on the AIM.

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