York, U.K. – 13 October 2026: Abingdon Health plc (AIM: ABDX) (OTCQB: ABDXF), a leading international developer, manufacturer and regulatory services provider for rapid diagnostic tests and med-tech, announces its final results for the financial year ended 30 June 2026 (“FY26”).
Financial Highlights
- Total revenues (inc. grant-funded income) for FY26 grew 32% to £11.3m (FY25: £8.6m)
- Reported revenue up 30% to £11.0m (FY25: £8.4m)
- Contract development revenue up 56% to £5.0m (FY25: £3.2m), the main driver of the strong H2 FY26 performance
- 62% increase in H2 FY26 revenue compared to H1 FY26
- Adjusted EBITDA* loss improved to £1.5m (FY25: £2.6m), trading profitably at the adjusted EBITDA level in H2 FY26
- Loss before tax of £2.0m (FY25: £3.5m)
- Gross margin of 47.1% (FY25: 44.3%)
- Cash and cash equivalents of £2.9m (30 June 2025: £1.9m)
*Adjusted EBITDA is earnings before interest, tax, depreciation, amortisation, share-based payment charges and certain other items the Group classifies as non-recurring, as presented in the Group Statement of Comprehensive Income
Commercial and Operational Highlights
- £3.2m (net) equity fundraise in October 2025, for working capital and to accelerate the expansion of US operations in Madison
- Shares admitted to trading in New York on the OTCQB Venture Market under the ticker symbol “ABDXF”
- Strong growth in contract development revenue (up 56%) provides a good pipeline of contracts that will move into manufacturing as products complete scale-up, regulatory approval and commercialisation
- Regulatory services and MedTech consulting revenues up 21% to £4.1m (FY25: £3.4m), reflecting a full-year contribution from CS Lifesciences and the growing benefit of multi-service / cross-selling opportunities
- Lateral Flow Self-Test Products and Technology revenues of £0.6m (FY25: £0.5m) – reflecting strategic positioning of product sales as a way to promote CRO and CDMO services
- Expansion of the US Madison site from its original development laboratories, to include a manufacturing hub, additional equipment, and performance evaluation services, with official opening on 24 September 2026
Commenting on Outlook, Dr Chris Hand, Executive Chairman, said:
“We have good visibility and a solid foundation of contracted revenue as we enter the new financial year and we are now attracting longer duration, larger value work to the Group. That said, we have experienced some short-term delays since June on a number of programmes due to a combination of factors, including availability of speciality reagents and specification updates as projects progress, and some previously active projects have been replaced by others as we move into FY27. This has resulted in certain revenue-generating activities in the first quarter of the financial year being delayed, and consequently we expect a significant second half weighting of revenue in FY27. We still expect to deliver significant growth in FY27 and beyond.
“The restructuring of CS Lifesciences as we more fully integrate its activities within the Group will also impact full-year revenues as the business pivots towards higher margin projects although the effect on EBITDA will be less significant.
“Having reached adjusted EBITDA profitability in the second half of FY26, the Board’s expectation is that continued revenue growth will take the Group to an improved EBITDA position for the year ending 30 June 2027 compared with FY26. The infrastructure required to deliver that growth is largely in place, and the priority is delivery of the existing customer programmes along with securing additional work in our commercial pipeline.”
FULL ANNOUNCEMENT: https://www.abingdonhealth.com/investors/regulatory-announcements/
