Nightingale Health (HEALTH) H2 2026 earnings summary

Executive summary

• Transitioned from a technology-focused to a commercially-driven company, emphasizing global expansion and adoption of its preventive healthcare platform, now positioned as a global standard for AI-powered preventive healthcare with multi-disease risk detection from a single blood sample.

• Over 3 million samples processed, 1,000+ publications, and regulatory approvals in multiple markets; labs established in Finland, Japan, Singapore, UK, and US, with national use in Finland.

• Achieved 17% revenue growth year-over-year to EUR 5.5 million, below the 50% target due to a project delay deferring EUR 2–2.4 million in revenue to the next fiscal year.

• Major commercial and research contracts signed, including a EUR 2.4 million multiomics project in Denmark and a EUR 0.7 million contract in Italy.

• Expansion into new markets and regulatory milestones, including a clinical laboratory permit in New York and new CCO appointments, strengthened the company’s global position.

Financial highlights

• Fiscal year revenue reached EUR 5.5 million, up 17% year-over-year, with the second half up 30% compared to the previous year.

• Net loss for the year was EUR -18.47 million, nearly unchanged from the prior year; EBITDA was EUR -11.87 million.

• Largest revenue contribution from Research Business, but healthcare segment is growing rapidly.

• Net cash at year-end: EUR 32.70 million; liquid funds: EUR 36.80 million; debt-free balance sheet.

Outlook and guidance

• Targeting at least EUR 10 million in revenue for the current fiscal year, aiming for approximately 100% growth.

• 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 targets: 100 million samples analyzed and EUR 500 million annual revenue.

• Revenue forecast is based on operational sales pipeline, not dependent on large, strategic deals.

• Expecting healthcare and research revenue split to approach 50/50 in the near future as healthcare adoption accelerates.