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Cambridge Cognition HoldingsAnnouncement

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RNS Number : 3136P  Cambridge Cognition Holdings PLC  19 January 2026

Cambridge Cognition Holdings plc

("Cambridge Cognition", the "Company" or the "Group")

Trading update for the year ended 31 December 2025

 

Cambridge Cognition Holdings plc (AIM: COG), the neuroscience technology
company whose digital cognitive assessments drive scientific discovery,
accelerate drug development and improve patient care, announces a trading
update for the year ended 31 December 2025.

HIGHLIGHTS

·    New sales orders in year up 73% to £12.8m (2024: £7.4m)

·    Order book at year end up 25% to £16.9m (2024: £13.6m)

·    Revenues of c.£9.4m down 10% (2024: £10.3m)

·    Adjusted EBITDA loss in line with market expectations (2024: loss
£43k)

·    Successful placing in August raising gross proceeds of £1.1m

·    Cash of £1.1m (June 2025: £0.4m, December 2024 £1.3m)

·    Reduced borrowing to £0.9m (December 2024: £1.9m), resulting in a
net cash position of £0.2m (December 2024: net debt £0.6m)

 

2025 TRADING UPDATE

We are pleased to report that all key metrics have responded to our focus on
strengthening the Company's commercial activities.  We achieved a materially
increased level of new sales orders, with £12.8m secured during the year
(2024: £7.4m), being an increase of 73% over the prior year, with growth
achieved in each quarter versus the comparative prior-year period.

The academic research segment returned to growth in 2025 following a period of
decline in new sales orders since 2022.  Academic research is strategically
important as the publication of peer-reviewed papers demonstrates the utility
of the Company's solutions across a range of clinical applications.

As a result, the Order Book at 31 December 2025 was £16.9m (2024: £13.6m),
an increase of 25% over 2024.  We anticipate that £8.5m - £9.0m of this
will be recognised as revenue in 2026, an increase of 30% compared to the
start of last year (2024: £6.6m).  In-line with previous years, the Company
expects 2026 revenue will be complemented by new sales orders secured during
the year.

As previously highlighted in the Company's interim results, revenue
expectations for 2025 were expected to be lower reflecting the weakness of the
order book from 2024, prior to the significant changes that have been made to
the management team and commercial operations.  The Company has delivered
revenue broadly in line with the revised FY25 consensus market expectations.

The Company's cost base continues to be controlled carefully, and the overall
adjusted EBITDA loss is anticipated to be in line with the revised FY25
consensus market expectations.  The Company has continued to manage cash flow
and closes the year with £1.1m cash (June 2024: £0.4m) and a net cash
position of £0.2m having reduced borrowings by £1.0m to £0.9m and following
the placing which raised £1.1m in August 2025.

PROFESSIONAL HEALTHCARE AND CONSUMER HEALTH & WELLNESS

During 2025, the Company announced that it was expanding its service offering
to both the professional healthcare and consumer health & wellness
markets.  The Company's existing touch-screen and voice-based tasks are now
presented in a new delivery model designed to provide clinicians with reliable
and reproducible information about a patient's cognitive function.  This
solution is branded CANTAB Pathway™.

The Company has signed its first agreement for the use of CANTAB Pathway™ in
a significant pilot programme with a major European private healthcare
group.  The pilot is expected to demonstrate the ability of CANTAB Pathway™
to gather information about patients' cognitive function effectively and more
rapidly than traditional paper assessments, and to reduce the potential for
bias or observer error.  If successful, this pilot would be expected to be
rolled out in a major pan-European implementation with the potential to reach
a significant patient population.

In addition, the Company believes there is a strong market opportunity for the
use of its technologies in the consumer health and wellness markets and we
have made encouraging progress in this area.

OUTLOOK

The Company enters 2026 with a strong pipeline of opportunities and expects
the investments in the commercial team to support further growth in new sales
orders throughout the year.  The Company is also continuing to develop in the
consumer health and wellness markets and expects to build on the encouraging
progress in this area through 2026.

 

Rob Baker, Chief Executive Officer, said:

"We enter 2026 with confidence and optimism.  2025 has been a year of
meaningful progress for the Company.  We have strengthened our commercial
execution, enhanced our product offering and expanded our order book - which
underpins growth in revenue, earnings and cash generation in 2026.

Excellence in neuroscience and our technology base remains at the heart of
what we do, to deliver meaningful, reliable and consistent solutions to
researchers, drug developers, clinicians and patients."

 

Enquiries:

 

 Cambridge Cognition Holdings plc                  Tel: 01223 810700

 Rob Baker, Chief Executive Officer                press@camcog.com (mailto:press@camcog.com)

 Ronald Openshaw, Chief Financial Officer

 Panmure Liberum Limited (NOMAD and Joint Broker)  Tel: 020 7886 2968

 Will Goode / Mark Rogers / Freddy Crossley        (Corporate Finance)

 Rupert Dearden                                    (Corporate Broking)

 Dowgate Capital Limited (Joint Broker)            Tel: 020 3903 7715

 David Poutney / Amber Higgs

 

 

 

Notes to Editors

 

About Cambridge Cognition

 

Cambridge Cognition is a neuroscience technology company whose digital
cognitive assessments drive scientific discovery, accelerate drug development
and improve patient care.

 

Built on rich, curated data and deep technical expertise we are building a
strong global brand with scalable technology that will support the rising
world demand for diagnosing and treating brain health.  The Company creates
shareholder value through organic sales growth, strategic partnerships, joint
ventures, and spinouts.  The Company has identified four market sectors:

 

·    Clinical Studies for new pharmaceuticals;

·    Academic Research for scientists to understand CNS disorders;

·   Healthcare to provide physicians with cognitive assessments to allow
them to diagnose and treat patients; and,

·    Consumer Health & Wellness to provide individuals access to
accurate, reliable, and meaningful data to assess their cognitive health.

 

For further information, visit: www.cambridgecognition.com
(http://www.cambridgecognition.com/)

 

 

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