Genedrive flags doubling of full-year income
By Josh White
Date: Monday 11 Aug 2025
(Sharecast News) - Genedrive said in an update on Monday that its full-year income for the 12 months ended June doubled to around £1m, from £0.5m a year earlier, driven by stronger second-half sales.
Income in the second half rose to £0.65m from £0.35m in the first half, while overheads remained in line with the 2024 financial year as the company shifted focus toward commercial activities.
The AIM-traded company said it already has visibility on about £0.6m of income for the first two months of 2026, supported by the completion and submission of NICE Early Value Assessment evidence, Scotland's phased national rollout of the Genedrive MT-RNR1 ID Kit and a CYP2C19 pilot expected to begin in October, and the start of a 12-month rapid genotyping programme at Manchester University NHS Foundation Trust.
Genedrive said it expected further 2026 revenue growth as international sales built in key European and Middle Eastern markets, alongside progress toward US regulatory approvals.
The firm said it was pursuing FDA Breakthrough Device designation for the MT-RNR1 kit and planned to file for 510k clearance of its CYP2C19 kit in early 2026, with that review expected to take three to four months.
Cash balances stood at around £0.7m, and the board said it was assessing financing options to provide additional working capital.
Chief executive Dr Gino Miele said planned UK healthcare reforms to prioritise and fund high-impact MedTech "are significant for companies such as ours" and that Genedrive's platform offered better patient outcomes, productivity gains and cost savings.
He added that year-on-year growth showed "product-market fit" in both the UK and early-stage international markets, citing uptake in Italy, the Netherlands, UAE, Bahrain, Kuwait, Saudi Arabia and Qatar.
At 1542 BST, Genedrive shares were down 12.89% at 0.98p.
Reporting by Josh White for Sharecast.com.
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