Inspiration Healthcare Group (IHC) H1 2027 earnings summary

Executive summary

• Underlying H1 FY27 revenue rose 26%, excluding £6.5m of prior-year one-off export orders; momentum across SLE, Inspiration Healthcare and Airon supported upgraded FY27 revenue guidance of at least £43m.

• Adjusted EBITDA was £1.2m; profit after tax was £255k versus a £262k loss, with positive momentum expected into FY28 and beyond.

Financial highlights

• Revenue was £22.0m versus £24.0m in H1 FY26; underlying revenue rose 26% after excluding £6.5m of prior-year one-off export orders.

• Operating profit was £635k versus £216k; profit before tax was £281k versus a £284k loss, and profit after tax was £255k versus a £262k loss.

• Adjusted EBITDA was £1.2m versus £1.3m; operating cash generated was £2.7m versus £3.6m.

• Gross profit was £9.2m versus £11.1m; basic EPS was 0.19p versus a loss of 0.29p.

Outlook and guidance

• FY27 revenue guidance was upgraded to at least £43m, with positive momentum expected to continue into FY28 and beyond.

• The first proprietary consumables range is planned for Q4 FY27, initially in the UK, to support consumables growth from FY28.

• SLE neonatal ventilator US market-access work remains on track for FDA filing in late 2027, with clearance targeted for H1 2028.

• Further inventory reduction of ~£2.0m and cost-saving initiatives were expected in H2.