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Kromek Group
Kromek Group (KMK) investor relations material
Kromek Group H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary26 Jan, 2026
Executive summary
CZT detector adoption in medical imaging (CT and SPECT) is accelerating, with major OEMs introducing new products and the company positioned as the only independent commercial supplier for 40% of the $400M CZT market by 2030.
Revenue for the six months ended 31 October 2025 rose to £15.0m from £3.7m year-over-year, driven by both Advanced Imaging and CBRN Detection segments.
The company has transitioned from a cash-burning, R&D-led model to a profitable, licensing-heavy business, with strong growth prospects in both advanced imaging and CBRN segments.
Gross margin improved to 71.7% from 56.9% year-over-year, reflecting a favorable revenue mix and high-margin licensing income.
Strategic focus remains on organic growth, with bolt-on M&A considered only if self-funded; dividend payments are not prioritized in the near term.
Financial highlights
Achieved profitability and delivered on stated targets, with a $37.5M Siemens enablement contract recognized over four years, $20.5M (GBP 16.5M) in FY2025, and £8.3m from the Siemens Enablement Agreement in H1.
Advanced Imaging revenue grew to £10.8m (H1 2025: £1.7m), and CBRN Detection revenue more than doubled to £4.3m (H1 2025: £2.0m).
Gross profit increased to £10.8m (H1 2025: £2.1m), with adjusted EBITDA reaching £6.0m, reversing a £2.3m loss in the prior year period.
Operating profit was £3.2m, compared to a £4.8m loss in H1 2025.
No intention for further equity raises; working capital and CapEx needs are being met through debt facilities and contract-structured funding.
Outlook and guidance
Medium-term revenue target of GBP 60M with 30% EBITDA margin remains, defined as a 3–5 year horizon toward 2030.
Full-year performance expected to be in line with market expectations, with continued growth in both segments.
Underlying business growth expected to offset the tail-off in licensing revenue, with advanced imaging and CBRN segments both contributing.
Continuous product launches and market expansion anticipated as CZT adoption accelerates.
Ongoing commitment to cost control and margin sustainability.
RCF sufficiency for future growth investments
PCCT commercialization next steps
Bio-threat detection market opportunities
Detail CapEx funding for 8-10x furnace expansion
Future plans for pipeline visibility
Strategic impact of Siemens SPECT IP license
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Kromek Group
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Frequently asked questions
Kromek Group plc is an international technology group specializing in the development, manufacture, and marketing of radiation detection solutions. The company's core technology is based on Cadmium Zinc Telluride (CZT), a semiconductor material that allows for high-resolution radiation detection. Kromek's products find applications across a diverse set of markets including medical imaging, civil nuclear, security screening, and homeland security. Their product portfolio is designed to enhance safety and security by enabling the detection of radiological and biological threats, as well as improving medical diagnostics through advanced imaging technologies. Kromek's offerings include hardware and software components for radiation detectors and comprehensive detection systems. These systems are used in various applications ranging from environmental monitoring and power plant safety to medical diagnostics and security. The company is headquartered in Sedgefield, England, and its shares are listed on the London Stock Exchange.
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