LONDON (ShareCast) - (Sharecast News) - Inspiration Healthcare reported a wider operating loss of £14.7m for the year ended 31 January on Wednesday, compared to a £4.9m loss in the prior year, as falling margins and restructuring costs weighed on results despite modest revenue growth.
Group revenue rose 1.7% to £38.3m, but gross profit fell 8.4% to £16.4m, with gross margins declining to 42.8% from 47.5%.

Adjusted EBITDA dropped sharply to £0.2m, down from £2m a year earlier, while the company's adjusted operating loss widened to £1.9m.

The AIM-traded medical technology firm, which focuses on neonatal intensive care devices, said it saw stronger trading in the second half following a restructuring and the appointment of new CEO Raffi Stepanian in January.

Significant new orders, including a $4.3m ventilator deal and a $6m contract with a humanitarian group, were expected to support a return to growth in the 2026 financial year.

"2025 has been a year of changes and resetting the course for the group," said chief executive officer Raffi Stepanian.

"After a challenging first half, we had a great turnaround in the second half, thanks to the back-to-basics approach initiated by our chair and interim CEO, Roy Davis, and continuous focus on sales in our international markets and the US.

"The improved sales levels in the last couple of months highlight the market demand of our product offerings and provide a good momentum to the new financial year."

Stepanian said the company started the 2026 financial year with a strong order book, as it continued its "back-to-basics actions" to gain further efficiencies and improve customer satisfaction.

"We will realign our solutions to focus on our core strengths and market trends, as well as expand in consumables and services to strengthen our overall performance.

"I would like to take this opportunity to express my sincere thanks to all my new colleagues in helping me get settled into the role, and also to all of our shareholders for their loyal support.

"We look forward to delivering on our goals as we progress through the year."

At 1009 BST, shares in Inspiration Healthcare were down 4.61% at 18.6p.

Reporting by Josh White for Sharecast.com.

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