Full year trading update

In brief · summary, not quotable

Novacyt S.A. announced an unaudited full-year trading update for 2025, with revenues of approximately £20.0 million, meeting market expectations and showing sequential half-year revenue growth. The Clinical segment generated £13.8 million in sales, driven by a new APAC customer and over 10% growth in NIPT technologies, while the Instrumentation segment saw over 25% growth to £2.5 million, primarily due to the LightBench® Discover instrument. The RUO segment declined by approximately 10% to £3.7 million. The APAC region achieved the highest year-on-year growth of about 10%, with sales of £5.5 million. The Group maintained sequential half-year growth, with revenues rising from £9.6 million in H2 2024 to £10.2 million in H2 2025. EBITDA losses are expected to meet or improve upon market expectations due to cost management. The cash position at year-end was £19.2 million, with the Group remaining debt-free.

Full announcement

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Paris, France and Manchester, UK - 21 January 2026 - Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT), the international molecular diagnostics company with a broad portfolio of integrated technologies and services, announces an unaudited full year trading update for the year ended 31 December 2025 ("FY 2025"), a period where revenues met market expectations, the Group maintained sequential half-year revenue growth and the cash position remained strong.

Financial highlights (unaudited)

Group statutory revenue for FY 2025 is expected to be c. £20.0m (FY 2024: £19.6m), in line with market expectations of £19.8m
Underlying Group revenue grew by c.4% (5% on a constant currency basis), excluding the impact of the Taiwan service laboratory divestment
Clinical segment delivered sales of £13.8m, (FY 2024: £13.5m), representing growth of 3%, driven by the acquisition of a new strategic customer in the APAC region
Within this segment NIPT technologies was up over 10% year-on-year
Instrumentation segment delivered more than 25% growth in sales to £2.5m, (FY 2024: £2.0m) predominantly driven by the LightBench® Discover instrument
RUO segment declined year-on-year by c. 10% to £3.7m (FY 2024: £4.2m), as a result of reduced sales of the Primerdesign catalogue of products
APAC region delivered the highest year-on-year growth of c. 10% achieving sales of £5.5m, driven by the continued strong demand for the Company's Reproductive Health range of products, followed by the Americas region delivering growth of c. 8%
Group maintained sequential half-year growth over three consecutive periods, with revenue rising from £9.6m in H2 2024 to £10.2m in H2 2025
EBITDA losses will at least meet, or show an improvement to, market expectations, as a result of careful cost management
Cash position at 31 December 2025 was £19.2m (30 June 2025: £23.8m), and the Group remains debt free

The Board understands that market expectations for the year ended 31 December 2025 to be revenue of £19.8m, an adjusted EBITDA loss of £8.5m and a closing cash balance of £18.8m.

Commercial progress

The Instrumentation segment delivered more than 25% revenue growth in the period, predominately driven by the launch of the LightBench® Discover instrument, a high-precision 3-in-1 instrument for genomic research labs conducting long-read sequencing. Since its launch in July 2025, the Company has successfully placed 10 instruments, with multiple collaborations secured and demonstrations to customers delivered. The Group confirms a healthy pipeline of opportunities for 2026 and beyond, as customers proactively reach out to learn more about this technology.

Despite the decline in sales within the Company's RUO segment, the Group successfully launched Primerdesign exsig® Mag RapidBead Pro Extraction Kit in November 2025. The cost-efficient, end-to-end solution, delivers superior performance for the Group's partners, setting a new standard for DNA/RNA purification. Combining the proven reliability of the exsig® Mag kit and the speed of a next-generation rapid extraction workflow, the kit helps researchers accelerate molecular discovery and pathogen testing from sample to results.

Finally, Beta testing is underway with international key opinion leaders in the field of precision medicine for Yourgene's Insight DPYD assay, the enhanced DPYD test which helps identify cancer patients at risk of suffering a severe and potentially life-threatening reaction to common chemotherapy. This Beta testing has commenced in good time, ahead of the product launch expected in H1 2026.

Final results

The Group expects to report its full year results for the year ended 31 December 2025 during April 2026.

Commenting on the trading update Lyn Rees, CEO of Novacyt, said: "With the period of restructuring and integration completed, and the successful derisked and stabilised business formed, we committed as a Board to deliver top line growth. We're therefore pleased to have delivered year on year revenue growth in line with market expectations. It's also pleasing to report two consecutive periods of half-year growth underpinned by an upward trajectory of revenue growth. These results prove the strong foundation we have created as a Group, and we look forward to driving innovation further as we continue to execute and deliver on our plans."

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