Futura Medical (FUM) H1 2026 earnings summary

Executive summary

• Achieved significant strategic progress, including evolving the commercial model, strengthening the IP portfolio, and advancing the development pipeline.

• Completed a strategic review, shifting from a pure R&D/out-licensing model to a hybrid R&D and commercial approach for higher, sustainable margins.

• Secured new US and China patents for EroxonⓇ and transitioned US commercial partnership from Haleon to MPG.

• Advanced EroxonⓇ Intense and WSD4000, with positive clinical and user study results supporting commercial launches.

Financial highlights

• Revenue for HY26 was £1.62 million (HY25: £1.00 million), with £1.40 million from a settlement with Haleon.

• Gross profit rose to £1.62 million (HY25: £0.24 million), reflecting the Haleon settlement and low cost of goods.

• Operating loss reduced to £1.20 million (HY25: £6.72 million); excluding prior period exceptional costs, HY25 operating loss was £2.67 million.

• Adjusted operating loss before share-based payments was £0.82 million (HY25: £6.05 million).

• Cash and cash equivalents at 30 June 2026 were £1.24 million (30 June 2025: £3.69 million).

Outlook and guidance

• Current cash resources are expected to last until approximately October 2026 without additional funding.

• The Board is actively pursuing funding and strategic options to strengthen the financial position and extend the cash runway.

• Directors acknowledge material uncertainties regarding going concern but believe sufficient cash resources will be available.