Final Results Announcement Year Ended 30 June 2025

York, U.K. - 11 November 2025: Abingdon Health plc (AIM: ABDX), 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 2025 ("FY25").

Commercial and Operational Highlights (including post period-end)

• Continued growth of contract development and manufacturing organisation ("CDMO") activities with several large contracts secured during FY25 and post period-end including:
  • Contract win for US$2m for development of sexually transmitted disease tests running across 2025 and into 2026.
  • Funding award of £800,000 via UK Research and Innovation alongside a distinguished group of partners to develop point-of-care rapid diagnostic tests for malaria.
  • Strategic partnerships with Okos Diagnostics to jointly develop and commercialise avian flu (H5N1) lateral flow kits for bovine health and human applications.
  • €2m CDMO contract win for companion diagnostic test covering development, scale-up, technical transfer, manufacture and full regulatory approval support with a European biotech company.
  • Additional CDMO contract win post period-end for development and regulatory approval of a companion diagnostic lateral flow point of care test, with a global pharmaceutical company expected to generate c. US$2.5m revenue over a 24-month period.
  • Launch of seaweed-based lateral flow housings in partnership with SymbioTex as an opportunity for CDMO customers to significantly reduce their plastic waste.
  • New cUS$2m CDMO contract win announced post period-end for development, scale-up and technical transfer for a semi-quantitative, multiplex lateral flow test system.
• Expansion of integrated CDMO service offering with:
  • Acquisition of regulatory service provider CS Lifesciences in August 2024 for a maximum consideration of up to £3.2 million in cash and shares.
  • Opening of Abingdon Analytical Ltd, analytical services and performance evaluation laboratory, in existing premises in Doncaster in December 2024.
  • Opening of US CDMO service site, including a commercial office and laboratories, in Madison, Wisconsin, which was fully operational in April 2025.
•     Integration of CS Lifesciences well underway and contract wins, including one for >£500k which has since been extended, underpinning growth potential in FY26 and beyond.

Financial Summary and Outlook (including post period-end)

• Total revenue of £8.6m* for FY25 (FY24: £6.1m) representing growth rate of 40.0% which includes £0.16m of profitable UKRI grant-funded CDMO 'other income' for the malaria project.
• Reported revenue of £8.4m (excluding profitable grant-funded development revenue*) (FY24: £6.1m)
• Performance in the six months ended 30 June 2025 ("H2 FY25") was significantly stronger than in the six months ended 31 December 2024 ("H1 FY25") due to the impact of several new contracts (outlined above), a full period contribution from CS Lifesciences, and the typical "seasonality" of the Group's business.
  • Revenue of £5.5m in H2 FY25 (H2 2024: £3.7m) compared to £3.1m in H1 FY25 (H1 FY24: £2.4m).
  • Improved adjusted EBITDA** loss of £0.7m in H2 FY25 (H2 FY24: £0.2m loss) compared to an adjusted EBITDA loss of £1.9m in H1 FY25 (H1 FY24: £1.0m loss), based on higher revenue and operational leverage.
• Investment in growth initiatives and new product development resulting in adjusted EBITDA loss for FY25 of £2.7m (FY24: £1.2m).
• Reported operating loss for the year of £3.5m (FY24: £1.4m), after depreciation, amortisation, and one-off or non-recurring items.
• Cash at bank and in hand of £1.9m (30 June 2024: £1.4m).
• Successful placing and retail offer in August 2024 raising £5.2m net of expenses, to support expanded CDMO operations including the opening of Abingdon Analytical as above.
• Further placing and retail offer completed post period-end in October 2025 for £3.2m net of expenses, to be used to accelerate expansion operations in the USA, enhance working capital required in new higher revenue-generating projects including recent major contract wins and future anticipated pipeline opportunities.
• The new financial year ending 30 June 2026 ("FY26") has started well with Q1 revenue significantly ahead of prior period. Further updates will be provided in due course.

*this includes £0.16m of grant-funded contract development revenue presented in 'other operating income' as required by accounting standards. 

** adjusted EBITDA defined as EBITDA prior to the impact of certain one-off and non-recurring items as presented in the Group statement of comprehensive income

Dr Chris Hand, Executive Chairman, at Abingdon Health plc, commented:

"We are delighted to announce our full-year results for FY25, which reflect significant commercial and operational progress following the opening of Abingdon Analytical in Doncaster, UK and Abingdon Health USA Inc, our new US CDMO site in Madison, Wisconsin, USA. 

 "Following some temporary headwinds in H1 FY25, we have seen a significantly stronger performance in H2 FY25 via our integrated end-to-end CDMO service offering and several major contracts announced in that period and since year end. The momentum has continued into the current financial year, and we are confident of reporting continued progress in FY26. 

"The recently completed placing and retail offer will support further expansion of our USA operations, where we are seeing significant customer interest in progressing development projects through to manufacture, and provide the working capital to execute the larger contracts we are winning. I look forward to updating our shareholders further in due course.

"I would like to thank colleagues across the Abingdon Health Group for their hard work and contribution, and I'd like to thank shareholders for their continued support."

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