Nightingale Health (HEALTH) H2 2025 earnings summary

Executive summary

• Revenue for FY 2024–2025 was €4.69 million, up 8% year-over-year, with continued operating losses and negative EBITDA due to investments in international expansion and one-off costs.

• Major public healthcare pilot launched in Finland, expanding access to over 100,000 people, and a decade-long ambition realized to integrate technology into primary care.

• Regulatory milestones achieved in Finland, Singapore, and the UK, with new laboratory openings in Singapore and the US to support global growth.

• Expanded service offering with multi-omics capabilities and published a peer-reviewed study validating superior risk prediction models for chronic diseases.

• New commercial contracts and partnerships in the US, Singapore, MENA regions, and with Phenome Health.

Financial highlights

• FY 2024–2025 revenue: €4.69 million (up from €4.36 million year-over-year).

• EBITDA: €-11.12 million (vs. €-10.43 million year-over-year); operating loss: €-19.42 million (vs. €-18.59 million).

• Liquid funds/net cash at year-end: €47.64 million (down from €63.40 million year-over-year); equity ratio: 90%.

• No debt on the balance sheet; net debt to equity ratio: -72%.

• Market value at year-end: €157.84 million.

Outlook and guidance

• Targeting at least 50% revenue growth for the ongoing fiscal year.

• Mid-term goals: agreements to analyze 2 million samples annually in Europe and 10 million in the US or Asia, and to achieve positive EBITDA.

• Long-term goal: 100 million samples analyzed and €500 million annual revenue.