Novacyt (ALNOV) H2 2024 TU earnings summary

Financial performance

• FY 2024 unaudited revenue expected at £19.6m, up 85% YoY, mainly from Yourgene Health acquisition.

• Yourgene contributed £15.3m in FY 2024, with Reproductive Health up 26% YoY and Ranger Technology consumables up 13% YoY.

• Primer Design sales were stable at £4.3m, halting previous declines.

• Cash position at year-end was £30.5m, with the group remaining debt free.

Commercial and clinical developments

• Strong Reproductive Health growth driven by Australian reimbursement and NIPT workflow upgrades.

• Expanded NIPT offering with new analysis tools and international customer launches in Colombia and Kazakhstan.

• Launched mpox clade differentiation kit for surveillance, targeting a niche market.

• Two new multiplex veterinary assays launched, expanding Primer Design's portfolio.

Instrumentation and R&D

• Ranger consumables grew 13% YoY; new Ranger platform for long read sequencing planned.

• R&D teams strengthened and investments made to support new product pipeline.

• Yourgene QST*R Base test submitted for IVDR accreditation, with outcome expected soon.