Nightingale Health (HEALTH) H1 2025 earnings summary

Executive summary

• Revenue increased to €2.31 million in H1 2024-25, up 35% year-over-year, with a focus on sustainable healthcare and preventative health checks using proprietary technology.

• Net loss narrowed to €-8.20 million from €-8.53 million year-over-year, with improvements in EBITDA and operating profit.

• Achieved significant operational milestones, including expansion in Finland, Japan, Singapore, the U.K., the U.S., and the Middle East.

• Major partnerships formed with Boston Heart Diagnostics and Phenome Health, and published a peer-reviewed study in Nature Communications validating risk prediction models.

• Key business targets include winning large international deals, increasing revenue, and improving operational efficiency.

Financial highlights

• Revenue for H1 was €2.31 million, representing 35% year-over-year growth.

• EBITDA improved to €-4.72 million from €-5.34 million year-over-year.

• Net cash at period end was €58.01 million, with liquid funds at €60 million and a trailing 12-month burn rate of €13 million.

• Equity ratio remained strong at 94%.

• Market value at period end was €173.81 million, up from €67.34 million year-over-year.

Outlook and guidance

• Targets for FY 2024-25 include winning large international deals, increasing revenue, and improving adjusted EBITDA.

• Mid-term goals: analyze 2M samples annually in Europe, 10M in US/Asia, and achieve positive EBITDA.

• Long-term goals: analyze 100M blood samples and reach €500M annual revenue.

• Ongoing efforts to improve efficiency and profitability while scaling operations globally.

• Anticipates commercial launches in new markets, including Singapore and the U.S., in the near term.