Bioventix (BVXP) H2 2024 earnings summary

Executive summary

• Revenue for the year ended 30 June 2024 increased by 6% to £13.6m, with profit before tax up 5% to £10.6m year-over-year.

• Cash balances rose to £6.0m from £5.7m, supporting a total dividend of 155p per share for the year.

• The business remains focused on supplying high-affinity sheep monoclonal antibodies for diagnostic applications, with a stable team and ongoing R&D in Alzheimer's diagnostics and industrial biomonitoring.

Financial highlights

• Turnover grew 6.16% year-over-year to £13.61m; profit before tax increased 4.62% to £10.60m.

• Cash balances at year-end were £6.0m, up from £5.72m.

• Dividend payments totaled 155p per share, with £8.25m distributed during the year.

• EPS was 155.12p basic and 152.86p diluted, both slightly down from the prior year.

Outlook and guidance

• Continued steady growth is expected in established diagnostic markets, with early commercial revenues from Tau/Alzheimer's antibodies.

• Short-term growth prospects in China are positive, though long-term risks include price pressures and local technology development.

• Ongoing investment in R&D, especially in neurological diagnostics and industrial biomonitoring, is anticipated.