CelLBxHealth (CLBX) H1 2025 earnings summary

Executive summary

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

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

• Clinical lab accreditation targeted by year-end, with ongoing NHS engagement and discussions with large pharma and medtech companies.

• Eleven new peer-reviewed publications and pivotal research in cancer metastasis, including Nature Medicine publication and CTC cluster dissociation proof of concept.

• 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 £1.034 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, with a 7% reduction in comprehensive loss.

• 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, and a cash runway into Q1 2026.

• Loss per share was 2.87p (H1 2024: 2.89p); net assets at 30 June 2025 were £11.7 million.

Outlook and guidance

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

• Focus on securing additional funding through commercial milestones, licensing, collaborations, debt, and equity.

• Pipeline includes further large pharma and medtech collaborations, NHS clinical studies, and clinical lab accreditation.

• Anticipation of further medtech partnerships and NHS clinical studies, especially in lung cancer.

• Cash runway extends into Q1 2026, supported by tax credits and cost control.