London · Delayed Price · Currency is GBP · Price in GBX hVIVO Earnings Call Transcripts
Fiscal Year 2025
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2025 saw financial challenges from trial cancellations, but operational progress included acquisitions, rebranding, and diversification into new clinical and geographic areas. Human challenge trials remain core, but non-challenge revenue now exceeds 50%, supporting a strong outlook for 2026.
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FY25 revenue met guidance at GBP 46.7m, with positive EBITDA margin and strong cash position. Acquisitions expanded services and geographic reach, while diversification reduced reliance on HCT. Guidance for 2026 is high single-digit growth, supported by a robust pipeline.
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Revenue for H1 2025 declined year-over-year, but acquisitions and diversification into new service lines partially offset the impact of headwinds in human challenge clinical trials. Cash remains strong, and guidance for 2025 is reiterated, with growth and profitability expected in 2026–2027.
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H1 2025 saw £24.2m revenue and 12% EBITDA margin, with strong cash reserves and ongoing integration of CRS and Cryostore. Despite market headwinds and project cancellations, a robust sales pipeline and improved operational efficiencies support a positive outlook for 2025 and beyond.
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The acquisition of two German clinical research units expands service offerings, client base, and geographic reach, supporting the goal of becoming a leading early-stage clinical development provider in Europe. Integration is expected to deliver operational synergies and margin improvements, with CRS targeted to become earnings accretive by 2026.
Fiscal Year 2024
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Record revenue and EBITDA growth achieved, with strong cash reserves and expanded service offerings through acquisitions. Guidance for 2025 remains robust, despite macro headwinds and a temporary margin dip due to integration costs. Regulatory milestones and a diversified pipeline support long-term growth.
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Record H1 2024 revenue and EBITDA growth were driven by strong demand for human challenge trials, operational efficiencies, and expanded service offerings. The new Canary Wharf facility increased capacity and enabled new revenue streams, supporting a robust outlook and ambitious 2028 targets.
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Revenue grew 31% year-on-year to GBP 35.6 million in H1 2024, driven by expanded capacity and operational efficiencies from a new Canary Wharf facility. Strategic focus includes broadening service offerings, targeting GBP 100 million revenue by 2028, and leveraging a robust sales pipeline and advanced recruitment platform.