Creo Medical Group (CREO): Path to self-sustaining cashflows

This situation live

CREO Creo Medical Group

£48m · 11.2p · −8% since the first step

20 Jan 2026 · Costs cut, revenue growing, still loss-making · +4% until the next step the Company is well positioned on its path to deliver self-sustaining cashflows and increased value to shareholders.

16 Apr 2026 · Further cost cut agreed; still loss-making · +9% until the next step The transaction is expected to close in May.

22 Apr 2026 · Revenue growing; cost cuts under way · +9% until the next step Along with top line growth, management continues to focus on improving the operational efficiency of the business.

22 May 2026 · Balance sheet support proposed via CME stake sale · −5% until the next step further strengthen its balance sheet to allow the Company to continue to deliver on its accelerating growth strategy, reach profitability and achieve sustainable cash flow generation.

22 May 2026 · CLN conditional; equity raise planned; CME sale non-binding · −5% until the next step alongside plans to raise additional equity funding, which will together provide a strengthened financial platform as the Company executes its commercial growth strategy

22 May 2026 · Placing launched; CLN and CME sale pending · −5% until the next step The Directors believe that the completion of the Placing, the issue of the CLNs and, if completed on the basis of the above, CME Stake Disposal will provide the Company with sufficient cash resources

22 May 2026 · Placing completed; admission pending · −5% until the next step Admission is expected to take place at 8.00 a.m. on 28 May 2026 and dealings in the Placing Shares are expected to commence at 8.00 a.m. on 28 May 2026

28 Jul 2026 · Placing and CLNs completed; cash £7.4m · −24% until the next step Cash and cash equivalents at 30 June 2026 were £7.4m (31 December 2025: £12.4m) and, subject to completion of the CME Stake Disposal, the Directors believe that the strengthened balance sheet will pro

30 Sep 2026 · Going concern uncertainty; seeking short-term financing · +8% since In the meantime, we are carefully managing the balance sheet ahead of completion of the CME Stake Disposal and we are in discussions with several parties regarding options for short-term financing.

Balance-sheet stress / refinancing

Path to self-sustaining cashflows

Going concern uncertainty; seeking short-term financing

Next: Short-term financing options; CME binding terms in Q4 2026

Every step · 9

20 Jan 2026 Costs cut, revenue growing, still loss-making – the Company is well positioned on its path to deliver self-sustaining cashflows and increased value to shareholders. ↗
16 Apr 2026 Further cost cut agreed; still loss-making – The transaction is expected to close in May. ↗
22 Apr 2026 Revenue growing; cost cuts under way – Along with top line growth, management continues to focus on improving the operational efficiency of the business. ↗
22 May 2026 Balance sheet support proposed via CME stake sale – further strengthen its balance sheet to allow the Company to continue to deliver on its accelerating growth strategy, reach profitability and achieve... ↗
22 May 2026 CLN conditional; equity raise planned; CME sale non-binding – alongside plans to raise additional equity funding, which will together provide a strengthened financial platform as the Company executes its commercial... ↗
22 May 2026 Placing launched; CLN and CME sale pending – The Directors believe that the completion of the Placing, the issue of the CLNs and, if completed on the basis of the above, CME Stake Disposal will provide... ↗
22 May 2026 Placing completed; admission pending – Admission is expected to take place at 8.00 a.m. on 28 May 2026 and dealings in the Placing Shares are expected to commence at 8.00 a.m. on 28 May 2026 ↗
28 Jul 2026 Placing and CLNs completed; cash £7.4m – Cash and cash equivalents at 30 June 2026 were £7.4m (31 December 2025: £12.4m) and, subject to completion of the CME Stake Disposal, the Directors believe... ↗
30 Sep 2026 Going concern uncertainty; seeking short-term financing – In the meantime, we are carefully managing the balance sheet ahead of completion of the CME Stake Disposal and we are in discussions with several parties... ↗

What is happening

Creo Medical Group: Path to self-sustaining cashflows – Going concern uncertainty; seeking short-term financing. ['Going concern uncertainty; seeking short-term financing']

In short: Since January 2026 Creo has cut costs and raised funds: a £5.5m placing and £2m Development Bank of Wales loan notes completed in May 2026. Interims on 30 September say the CME sale delay creates a material going concern uncertainty. The company is discussing short-term financing with several parties and does not expect an equity fundraise.
Announced: 20 Jan 2026 · Costs cut, revenue growing, still loss-making
Latest: 30 Sep 2026 · Going concern uncertainty; seeking short-term financing
Cash: £7.4m at 30 June 2026 (31 December 2025: £12.4m)
Financing completed: About £5.5m equity placing; £2.0m convertible loan notes subscribed by Development Bank of Wales
Condition: Sufficient cash view is subject to completion of the CME Stake Disposal
Financing done: £5.5m equity placing and £2.0m convertible loan note from Development Bank of Wales, completed May 2026
Going concern: Material uncertainty because the CME Stake Disposal is delayed
Short-term funding: Discussions with several parties; options not expected to include an equity fundraise
Cost base: Manufacturing outsourcing expected to cut underlying operating costs 15% vs FY25, annualised
Underlying operating loss: £4.9m in H1-26 on a continuing basis, from £6.7m

What comes next

Short-term financing options; CME binding terms in Q4 2026.

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