This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

Abingdon Health plc

("Abingdon Health", the "Group" or the "Company")

Trading Update

45% increase in H1 FY26 revenues

Confident commercial outlook

York, U.K.  15 January 2026: Abingdon Health plc (AIM: ABDX), a leading international developer, manufacturer and regulatory services provider for rapid diagnostic tests and med-tech, provides its half-year trading update for the six months ended 31 December 2025.

Total revenues in the six months ended 31 December 2025 ("H1 FY26") grew by 45% to £4.5 million (H1 FY25: £3.1 million), driven by several significant commercial contracts announced during the past year. H1 FY26 includes an element of grant-funded contract development revenue which will be presented in 'other operating income' as required by accounting standards.

Cash and cash equivalents at 31 December 2025 were £3.6 million (30 June 2025: £1.9 million).  This  followed the Company's recent fundraise in October 2025 which raised £3.2m net of expenses to accelerate expansion operations in the USA and enhance working capital required in new higher revenue-generating projects including recent major contract wins and future anticipated pipeline opportunities.

Outlook

Looking ahead to the second half of the financial year the Board remains confident in the commercial outlook for the Company, supported by several significant contracts announced and commenced during H1 FY26. As in prior years, revenue for the financial year ending 30 June 2026 ("FY26") is expected to be weighted towards the second half of the financial year.  

The Board is maintaining its revenue guidance for FY26, including grant-funded income, in line with market expectations of £12.6 million (£12.2m plus £0.4m grant funded revenue). The mix of forecasted revenue for H2 has changed as the Group executes on its recently announced contract wins. The expected revenue from current customer Find Out From Home (FOFH) is now expected to be realised in FY27 as FOFH performs a fundraising process.   Despite that adjustment, the Board remains confident in the revenue outlook for FY26.

EBITDA for FY26 will be driven in part by new customer wins and by the speed of acceleration of USA expansion, where the Company is currently increasing its lateral flow development and manufacturing footprint at its Madison, WI facilities to satisfy customer demand. The Board anticipates H2 FY26 to be profitable and operating cash flow positive whilst the outturn for the year will depend largely on anticipated continued commercial progress throughout H2.The Company expects to report its results for H1 FY26 in March 2026, where a further update will be provided.

Investor presentation

Dr Chris Hand, Executive Chairman, will be presenting this evening, Thursday 15 January 2026, at the Proactive One2One Investor Forum in London. Further information may be found at Proactive Investors and the investor presentation will be made available in the investor relations section of Abingdon Health's website after the event.

Chris Hand, Executive Chairman, commented: "I am pleased to report substantial revenue growth in the first six months of the financial year, and the outlook for the rest of FY26 and beyond remains positive. We have made significant commercial and operational progress via our integrated end-to-end CDMO and CRO service offering which has supported us in securing several major contracts as previously announced, and this momentum is expected to continue in the coming year and beyond."

Enquiries:

About Abingdon Health

Abingdon Health Group is a leading med-tech contract service provider offering its services to an international customer base.   

The Group's CDMO (Contract Development and Manufacturing Organisation) expertise offers lateral flow product development, regulatory support, technology transfer and manufacturing services for customers looking to develop new assays or transfer existing laboratory-based assays to a lateral flow format.  Abingdon Health has the internal capabilities to take lateral flow projects, in areas such as infectious disease and clinical testing, including companion diagnostics, animal health and environmental testing, from initial concept through to routine manufacturing; from idea to commercial success. 

Abingdon's regulatory services companies, Compliance Solutions (Life Sciences) and IVDeology, provide a broad range of regulatory services to the in vitro diagnostic and wider medical device industry, to support customers in bringing products to market across a range of territories including the USA, EU and the UK.  Its consultancy services range from design, implementation and maintenance of quality management systems, preparation of technical files for regulatory approvals, part-time and interim management support, auditing both internal and external, management reviews and presentations, training and mentoring.   The Company's subsidiary, Abingdon Analytical Ltd, offers analytical testing and performance evaluation to generate the required technical and data for regulatory approval for lateral flow and other in vitro diagnostic assays from its Doncaster, England facilities. 

Founded in 2008, Abingdon Health is headquartered in York, England with laboratories in Doncaster, England and laboratories and commercial offices in Madison, Wisconsin, USA.

Abingdon Health's brochure outlines the comprehensive support the Group can now provide to its international customers.  For more information visit: www.abingdonhealth.com.