Trading Update
H1 FY25 revenues of $1.3m from kidneyintelX.dkd tests; on track for FY25 and FY26 targets.
vs expectations: on track
- H1 FY25 revenues $1.3m
- Doctors ordering kidneyintelX.dkd at end H1 FY25 142
- Average tests per month per sales representative (December 2024) 24
- Average tests per month per sales representative (December 2023) 8
- Funding raised (November 2024) £11.8m
Select text to share a quote on X · sign in to keep highlights & notes in your RENX notes
LONDON and NEW YORK, 27 January 2025 - Renalytix plc (LSE: RENX) (OTCQB: RNLXY), which is commercialising kidneyintelX.dkd, the only FDA-approved and Medicare reimbursed prognostic test to support early-stage risk assessment for chronic kidney disease, provides an unaudited trading update for the six months ended 31 December 2024 ("H1 FY25") and confirmation that the Company remains on track to deliver against revenue and expense targets for the year ended June 2025.
The Company expects to report revenues for H1 FY25 of $1.3m relating to commercial sales of kidneyintelX.dkd. The Company remains on track to deliver against financial expectations for FY25 and FY26, which assume an average of 20% quarterly revenue testing volume growth.
The number of tests received from the Company's direct-to-doctor channel continued to rise significantly during the period, with the number of doctors ordering kidneyintelX.dkd totalling 142 at the end of H1 FY25. Sales representative productivity continued to improve with the number of average tests ordered per month per sales representative tripling over the last year reaching 24 in December 2024 (December 2023: 8).
The onboarding of a large New York-based primary care network in September has supported growth in H1 FY25 and provides confidence that this growth will continue in the second half. As confirmed in the Company's AGM statement, the Company expects further new adopters to come on board in 2025.
The Company is well financed following the successful £11.8m funding in November of 2024.
Renalytix expects to announce its unaudited results for H1 2025 in March 2025.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.