hVIVO (HVO) H1 2025 TU earnings summary

Executive summary

• H1 2025 revenue was £24.2 million, with an EBITDA margin of approximately 12% and a cash balance of £23.3 million as of June 30th.

• CRS and Cryostore acquisitions contributed £5.5 million to H1 2025 revenue, with integration progressing well and cross-selling synergies emerging.

• Diversification of services and customer base is underway, broadening clinical offerings and expanding the client base.

• The company remains debt-free, with a focus on conserving cash and supporting M&A activity.

• Weighted order book stood at £40 million at June 30, 2025.

Financial highlights

• H1 2025 revenue was £24.2 million, with £5.2 million from CRS and £0.3 million from Cryostore.

• EBITDA margin was approximately 12%, benefiting from operational efficiencies and cost management.

• Cash balance decreased from £44 million at year-end to £23.3 million, mainly due to acquisitions and reduced deferred revenue.

• Exceptional items for H1 totaled £1.4 million, mainly acquisition and restructuring costs.

• Weighted contracted orderbook was £40 million at June 30, 2025, down from £71 million a year earlier.

Outlook and guidance

• Full-year 2025 revenue guidance reaffirmed at £47 million, with a low-single digit EBITDA loss (pre-exceptionals), improved from previous guidance.

• Board confident in long-term growth, expecting sector headwinds to be transitory and growth anticipated in 2026.

• Strong sales pipeline and increased proposal activity signal potential for order book recovery.

• Major HCT opportunities are in advanced discussions.