Verici Dx (VRCI) H1 2025 earnings summary

Executive summary

• Achieved Medicare coverage for Tutivia in April, enabling full commercial launch, revenue recognition, and rapid payment cycles.

• Raised over £6.35m in July, extending cash runway into at least H2 2026 and supporting commercial scale-up.

• Transitioned to commercial stage with two validated products: Tutivia and PTRA (Clarava), with licensing agreement in place for PTRA with Thermo Fisher.

• Expanded commercial team, now up to four salespeople and additional clinical support, driving growth and onboarding 30 transplant centers (16% of US volume).

• Maintained revenue targets for the year, with strong momentum and significant acceleration in testing volumes expected in Q4, Q1, and H2 2025.

Financial highlights

• Revenue for the period was $1.9m: $1.16m from Tutivia testing and $0.75m from Thermo Fisher licensing.

• EBITDA loss for the period was $2.8m.

• Cash at end of June was $0.5m, increasing to $5.3m at end of September after fundraising.

• Net cash outflow from operating activities was $3.5m.

• Loss per share was $0.01 for H1 2025.

Outlook and guidance

• Revenue target for 2025 remains at $3.2m for Tutivia, with significant volume acceleration expected in H2 2025 and beyond.

• Growth expected from new center onboarding and expanded sales team, with Q4 and Q1 highlighted as key periods.

• Focus remains on U.S. market; global expansion considered longer-term.

• Funds in place to support growth and market expectations for full-year performance.