Arecor Therapeutics

AREC · AIM · Health Care · mcap £33m · 72.5p

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Financials · LTM to 30 Jun 26

Source: results 30 Sep 26 ↗

Revenue: £890k
Operating profit: −£137k
Net income: £190k
Free cash flow: −£5.2m
Net cash: £1.6m
Market cap: £32.8m
EV / EBIT: –
FCF yield: −15.9%
Price / book: 8.9×

Latest half-year · H1 26 vs H1 25 results 30 Sep 26 ↗

Revenue: £194k
Operating profit: −£3.2m
Net income: −£3.0m
Cash from operations: −£3.3m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

As reported Key figures

Income statement Balance sheet Cash flow

Annual Half-yearly

Every line as the company printed it, newest first – each period in the latest version the company published (restated figures where a later report restated them), in its own currency and units. Italic = calculated (H2 = full year − first half). The column headings link to the announcements.

Latest report: H1 26 (six months to 30 Jun 26), published 30 Sep 26 · read the results ↗

	FY 25£000 source	FY 24£000 source
Revenue	1,714	1,643
Cost of sales	(448)	(724)
Gross profit	1,266	919
Other operating income	5,534	267
Research and Development expenses	(2,694)	(3,041)
General & Administrative expenses	(3,174)	(3,321)
Operating profit/(loss)	932	(5,176)
Finance income	73	101
Finance expense	(11)	(18)
Profit/(loss) before tax	994	(5,093)
Taxation charge	(62)	(70)
Profit/(Loss) for the financial year - Continuing operations	932	(5,163)
Loss for the year - Discontinued operations	(268)	(5,073)
Profit/(Loss) for the year	664	(10,236)
Basic and diluted earnings per share (£) - Continuing operations	0.02	(0.16)
Basic and diluted earnings per share (£) - Total Group	0.02	(0.31)

	H1 26£000 source	H2 25£000 calc.	H1 25£000 source
Revenue	194	696	1,018
Cost of Sales	(157)	(230)	(218)
Gross Profit	37	466	800
Other operating income	157	5,431	103
Research & Development expenses	(1,865)	–	(1,279)
General & Administrative expenses	(1,491)	(1,457)	(1,717)
Operating (loss)/profit	(3,162)	3,025	(2,093)
Finance income	78	46	27
Finance expense	(3)	(5)	(6)
(Loss)/profit before tax	(3,087)	3,066	(2,072)
Taxation credit/(charge)	70	–	34
(Loss)/profit for the period - Continuing operations	(3,017)	–	(2,038)
Profit/(loss) for the period - Discontinued operations	35	–	(470)
(Loss)/profit for the period	(2,982)	–	(2,508)
Basic and diluted earnings per share (£) – Continuing operations	(0.08)	0.08	(0.06)
Basic and diluted earnings per share (£) – Total Group	(0.08)	0.09	(0.07)

	30 Jun 26£000 source	31 Dec 25£000 source	31 Dec 24£000 source
Assets Non-current assets
Intangible Assets
Property, Plant and Equipment	226	298	400
Other receivables	87	85	55
Total non-current assets	325	399	488
Current assets
Trade and other receivables	493	628	3,845
Current tax receivable	310	240	654
Cash and cash equivalents	1,636	3,001	3,239
Short term investments	1,519	3,129	18
Inventory	-	-	478
Deferred consideration	367	704	-
Total current assets	4,325	7,702	8,234
Current liabilities
Trade and other payables	(812)	(1,415)	(3,069)
Lease liabilities	(52)	(96)	(121)
Provisions	(59)	(99)	(66)
Total current liabilities	(923)	(1,610)	(3,256)
Non-current liabilities
Lease liabilities	(5)	(2)	(111)
Provisions	(38)	(35)	(6)
Total non-current liabilities	(43)	(37)	(117)
Net Assets	3,684	6,454	5,349
Equity attributable to equity holders of the Group
Share capital	378	378	378
Share premium account	34,684	34,684	34,684
Share-based payments reserve	–	2,320	1,676
Share-based payment reserve	2,500	–	–
Other reserves	11,455	11,455	11,455
Merger relief reserve	2,014	2,014	2,014
Foreign exchange reserve	(71)	(103)	100
Retained losses	(47,276)	(44,294)	(44,958)
Total equity attributable to equity holders of the Group	–	6,454	5,349
Equity attributable to equity holders of the Group	3,684	–	–

	30 Jun 26£000 source	31 Dec 25£000 source	30 Jun 25£000 source	31 Dec 24£000 source
Assets Non-current assets
Intangible Assets
Property, Plant and Equipment	226	298	396	400
Other receivables	87	85	58	55
Total non-current assets	325	399	478	488
Current assets
Trade and other receivables	493	628	2,372	3,845
Current tax receivable	310	240	402	654
Cash and cash equivalents	1,636	3,001	1,867	3,239
Short term investments	1,519	3,129	19	18
Inventory	-	-	112	478
Deferred consideration	367	704	-	-
Total current assets	4,325	7,702	4,772	8,234
Current liabilities
Trade and other payables	(812)	(1,415)	(2,169)	(3,069)
Lease liabilities	(52)	(96)	(114)	(121)
Provisions	(59)	(99)	(43)	(66)
Total current liabilities	(923)	(1,610)	(2,326)	(3,256)
Non-current liabilities
Lease liabilities	(5)	(2)	(59)	(111)
Provisions	(38)	(35)	(9)	(6)
Total non-current liabilities	(43)	(37)	(68)	(117)
Net Assets	3,684	6,454	2,856	5,349
Equity attributable to equity holders of the Group
Share capital	378	378	378	378
Share premium account	34,684	34,684	34,684	34,684
Share-based payments reserve	–	2,320	–	1,676
Share-based payment reserve	2,500	–	1,816	–
Other reserves	11,455	11,455	11,455	11,455
Merger relief reserve	2,014	2,014	2,014	2,014
Foreign exchange reserve	(71)	(103)	(25)	100
Retained losses	(47,276)	(44,294)	(47,466)	(44,958)
Total equity attributable to equity holders of the Group	–	6,454	–	5,349
Equity attributable to equity holders of the Group	3,684	–	2,856	–

	FY 25£000 source	FY 24£000 source
Cash flow from operating activities
Profit/(Loss) before taxation from continuing operations	994	(5,093)
Finance income	(73)	(101)
Finance costs	11	18
Gain-on-Sale of Intangibles	(4,968)	-
Gain-on-Sale of Property, Plant and Equipment	(9)	-
Share-based payment expense	324	156
Depreciation	201	216
Amortisation	14	139
Total cash flow from operating activities	(3,506)	(4,665)
Changes in working capital
(Increase)/decrease in trade and other receivables	(366)	381
(Decrease)/increase in trade and other payables	315	(1,065)
(Decrease)/increase in provisions	40	(85)
(Increase)/decrease in RDEC receivable	69	(267)
Tax Received	364	-
Net cash used in operating activities - continuing operations	(3,084)	(5,701)
Net cash (used in)/generated from operating activities - discontinued operations	721	(3,629)
Cash flow from investing activities
Purchase of property, plant and equipment	(99)	(8)
(Purchase)/Maturity of short-term investments	(3,111)	1,641
Sale of intangibles	5,186	-
Sale of property, plant and equipment	9	-
Interest received	73	101
Net cash generated from investing activities - continuing operations	2,058	1,734
Net cash (used in)/generated from investing activities - discontinued operations	399	(15)
Cash flow from financing activities
Issue of ordinary shares	-	6,417
Share issue costs	-	(637)
Repayment of loans	-	9
Capital payments on lease liabilities	(88)	(89)
Interest paid on lease liabilities	(11)	(18)
Net cash (used in)/generated from financing activities - continuing operations	(99)	5,682
Net cash used in financing activities - discontinued operations	(49)	(36)
Net decrease in cash and cash equivalents	(54)	(1,965)
Exchange (losses)/gains on cash and cash equivalents	(184)	111
Cash and cash equivalents at beginning of financial year	3,239	5,093
Cash and cash equivalents at end of financial year	3,001	3,239

	H1 26£000 source	H2 25£000 calc.	H1 25£000 source
Cash flow from operating activities
(Loss)/profit before taxation from continuing operations	(3,087)	3,066	(2,072)
Finance income	(78)	(46)	(27)
Finance costs	3	5	6
Gain-on-Sale of Intangibles	-	(4,968)	-
Gain-on-Sale of Property, Plant and Equipment	-	1	(10)
Share-based compensation	180	–	140
Net foreign exchange (gain)	(28)	–	-
Depreciation	97	98	103
Amortisation	5	5	9
Total cash flow from operating activities	(2,908)	(1,655)	(1,851)
Changes in working capital
Decrease/(increase) in trade and other receivables	81	(180)	(186)
(Decrease)/increase in trade and other payables	(474)	192	123
(Decrease)/increase in provisions	(15)	60	(20)
Decrease in RDEC receivable	-	(183)	252
Tax Received	-	(15)	379
Net cash (used in) operating activities – continuing operations	(3,316)	(1,781)	(1,303)
Net cash (used in)/generated from operating activities – discontinued operations	(66)	588	133
Cash flow from investing activities
(Purchase)/sale of property, plant & equipment	(25)	–	(88)
Maturity/(purchase) of short-term investments	1,610	–	(1)
Sale of intangibles	371	5,186	-
Interest received	78	46	27
Net cash generated from/(used in) investing activities – continuing operations	2,034	–	(62)
Net cash generated from investing activities – discontinued operations	-	–	100
Cash flow from financing activities
Capital payments on lease liabilities	(46)	(45)	(43)
Interest paid on lease liabilities	(3)	(5)	(6)
Net cash (used in) financing activities – continuing operations	(49)	–	(49)
Net cash (used in) financing activities – discontinued operations	-	(30)	(19)
Net (decrease) in cash and cash equivalents	(1,397)	–	(1,200)
Exchange gains/(losses) on cash and cash equivalents	32	–	(172)
Cash and cash equivalents at beginning of period	3,001	–	3,239
Cash and cash equivalents at end of period	1,636	–	1,867

	LTM Jun 26	FY 25	FY 24
Revenue to operating profit
Revenue	0.9	1.7	1.6
Gross profit	0.5	1.3	0.9
Adjusted EBITDA	(4.5)	(3.5)	(4.7)
EBITDA	0.1	1.1	(4.8)
Operating profit	(0.1)	0.9	(5.2)
Depreciation (owned assets)	0.2	0.2	0.2
Amortisation	0.0	0.0	0.1
Share-based payments	0.4	0.3	0.2
Operating profit to net income
Finance costs	(0.0)	(0.0)	(0.0)
Profit before tax	(0.0)	1.0	(5.1)
Tax	(0.0)	(0.1)	(0.1)
Net income (owners)	0.2	0.7	(10.2)
Discontinued operations	0.2	(0.3)	(5.1)
Per share
EPS basic	1.0p	2.0p	(31.0p)
EPS diluted	1.0p	2.0p	(31.0p)

	H1 26	vs H1 25	H2 25	H1 25
Revenue to operating profit
Revenue	0.2	−81%	0.7	1.0
Gross profit	0.0	−95%	0.5	0.8
Adjusted EBITDA	(2.9)	n/m	(1.7)	(1.9)
EBITDA	(3.1)	n/m	3.1	(2.0)
Operating profit	(3.2)	n/m	3.0	(2.1)
Depreciation (owned assets)	0.1	−6%	0.1	0.1
Amortisation	0.0	n/m	0.0	0.0
Share-based payments	0.2	+29%	0.2	0.1
Operating profit to net income
Finance costs	(0.0)	n/m	(0.0)	(0.0)
Profit before tax	(3.1)	n/m	3.1	(2.1)
Tax	0.1	n/m	(0.1)	0.0
Net income (owners)	(3.0)	n/m	3.2	(2.5)
Discontinued operations	0.0	n/m	0.2	(0.5)
Per share
EPS basic	(8.0p)	–	9.0p	(7.0p)
EPS diluted	(8.0p)	–	9.0p	(7.0p)

	LTM Jun 26	FY 25	FY 24
Operating activities
Cash from operations	(5.1)	(3.1)	(5.7)
Investing activities
Capex (PP&E)	(0.0)	(0.1)	(0.0)
Financing activities
Lease principal paid	(0.1)	(0.1)	(0.1)
Lease interest paid	(0.0)	(0.0)	(0.0)
Shares issued	–	–	6.4

	H1 26	vs H1 25	H2 25	H1 25
Operating activities
Cash from operations	(3.3)	n/m	(1.8)	(1.3)
Investing activities
Capex (PP&E)	(0.0)	n/m	(0.0)	(0.1)
Financing activities
Lease principal paid	(0.0)	n/m	(0.0)	(0.0)
Lease interest paid	(0.0)	n/m	(0.0)	(0.0)

	30 Jun 26	31 Dec 25	31 Dec 24
Non-current assets
Other intangibles	0.0	0.0	0.0
Property, plant & equipment	0.2	0.3	0.4
Current assets
Inventories	–	–	0.5
Trade receivables	0.5	0.6	3.8
Cash	1.6	3.0	3.2
Current assets	4.3	7.7	8.2
Current liabilities
Trade payables	0.8	1.4	3.1
Lease liabilities, current	0.1	0.1	0.1
Current liabilities	0.9	1.6	3.3
Non-current liabilities
Lease liabilities, non-current	0.0	0.0	0.1
Deferred consideration	0.4	0.7	–
Equity
Total equity	3.7	6.5	5.3
Net cash and other figures
Shares in issue	37.8m	37.8m	–

	30 Jun 26	31 Dec 25	30 Jun 25	31 Dec 24
Non-current assets
Other intangibles	0.0	0.0	0.0	0.0
Property, plant & equipment	0.2	0.3	0.4	0.4
Current assets
Inventories	–	–	0.1	0.5
Trade receivables	0.5	0.6	2.4	3.8
Cash	1.6	3.0	1.9	3.2
Current assets	4.3	7.7	4.8	8.2
Current liabilities
Trade payables	0.8	1.4	2.2	3.1
Lease liabilities, current	0.1	0.1	0.1	0.1
Current liabilities	0.9	1.6	2.3	3.3
Non-current liabilities
Lease liabilities, non-current	0.0	0.0	0.1	0.1
Deferred consideration	0.4	0.7	–	–
Equity
Total equity	3.7	6.5	2.9	5.3
Net cash and other figures
Shares in issue	37.8m	37.8m	37.8m	–

Read automatically from each results announcement. Check the source before relying on a figure.

Company filings. Not investment advice.