Nightingale Health (HEALTH) H2 2025 earnings summary

Executive summary

• Revenue grew by 8% year-over-year to €4.7 million for FY 2024–2025, despite global economic uncertainty and continued operating losses due to investments in international expansion.

• Expanded international presence with new laboratories in the U.S. and Singapore, and achieved regulatory milestones in Finland, Singapore, and the UK.

• Major public healthcare agreement in Finland expanded access to over 100,000 people, marking a significant milestone for preventative healthcare integration.

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

Financial highlights

• FY 2024–2025 revenue reached €4.7 million (up from €4.4 million year-over-year), with EBITDA declining by 14.6% due to international expansion and one-off costs.

• Net income was -€18.5 million, and net cash at year-end was €47.6 million, with no interest-bearing debt.

• Liquid funds at year-end provided multiple years of runway, and the equity ratio stood at 90%.

• No dividend proposed; focus remains on funding growth.

Outlook and guidance

• Targeting at least 50% revenue growth for FY 2025–2026, supported by a strong sales pipeline and new contracts.

• Mid-term goals: analyze two million samples annually in Europe and ten million in the U.S. or Asia, and achieve positive EBITDA.

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