CelLBxHealth (AGL) H1 2025 earnings summary

Executive summary

• Successfully completed three large pharma contracts and signed a major medtech collaboration with Myriad Genetics, expanding clinical and commercial opportunities despite revenue pressure from adverse market conditions.

• Advanced DNA dual analysis workflow for CTC-DNA and ctDNA, and demonstrated integration with Illumina sequencing for enhanced cancer mutation detection.

• NHS engagement for blood-based cancer diagnostics, with ongoing clinical lab accreditation and discussions with large pharma and medtech companies.

• Eleven new peer-reviewed publications and pivotal research in cancer metastasis, including Nature Medicine publication on cluster buster drugs.

• Over 270 Parsortix systems in use and more than 248,000 samples processed as of 30 June 2025.

Financial highlights

• H1 2025 revenue was £0.8 million, down from £1.0 million in H1 2024, due to customer delays and challenging macro conditions.

• Gross margin remained stable at 59% year-over-year.

• Operating expenditure reduced by 12% to £8.0 million, and comprehensive loss reduced by 7% year-over-year.

• Cash and R&D tax credits position at £6.6 million, with cash and cash equivalents at £5.3 million as of 30 June 2025; cash runway extends into Q1 2026.

• Loss per share for H1 2025 was 2.87p, compared to 2.89p in H1 2024.

Outlook and guidance

• Revenue for 2025 expected to exceed £1.5 million, with delays likely shifting further revenue into 2026.

• Focus on securing additional funding in H2 from commercial milestones, collaborations, and potential equity or debt.

• Anticipation of clinical lab accreditation by year-end to enable direct patient testing.

• Pipeline includes multiple large pharma and medtech opportunities, NHS clinical studies, and new contracts.