CelLBxHealth (CLBX) Q4 2025 TU earnings summary

Executive summary

• Transitioned from a research-focused to a commercially driven, partner-led model, with a rebrand and new leadership team.

• Parsortix platform validated at scale, with 63 active sites, 102 instruments, and over 250,000 samples processed.

• Anchor partnerships secured, including a Master Services Agreement with AstraZeneca and clinical collaborations with AdventHealth and the NHS.

• Strategic cost reductions and operational restructuring implemented, reducing headcount by over 60% and consolidating operations.

• Preliminary unaudited Q4 and FY2025 revenues expected at £1.4 million, with biopharma and product revenues at £0.3 million for the year.

Financial highlights

• Total revenue for 2025 was £1.4 million, down from £2.9 million in 2024, and below the £1.6 million target due to contract deferrals.

• Product and services revenue was £1.1 million (2024: £1.3 million); pharma/biopharma services revenue was £0.3 million (2024: £1.6 million).

• Gross profit margin remained steady at 62%.

• Operating loss increased to £19.2 million (2024: £15.1 million); loss after tax was £19.5 million (2024: £14.2 million).

• Cash and cash equivalents at year-end were £7.3 million, following a successful £8.2 million fundraise in December 2025.

Outlook and guidance

• Targeting a 50% increase in FY26 revenues and positive EBITDA by late 2028.

• FY26 revenue guidance is £2.1 million, with further growth to £5.6 million in FY27 and £8.3 million in FY28.

• Annualised operating cash costs targeted at £5.5 million by end of 2026, with gross margin expected to reach 65%.

• Funded into H1 2027, with a focus on strict cost control and commercial revenue growth.

• Focused on delivering commercial milestones from a qualified 2026 pipeline valued at £12.6 million (risk-weighted at £4.5 million).