UK's hVIVO H1 revenue falls on contract timing, orderbook doubles
UK's hVIVO H1 revenue falls on contract timing, orderbook doubles
Overview
UK clinical research firm's H1 2026 revenue fell yr/yr due to timing of contract delivery
Adjusted EBITDA loss widened in H1 2026, with positive adjusted EBITDA expected in H2
Contracted orderbook more than doubled to £65 mln; CRS Berlin acquisition expands platform
Outlook
hVIVO expects H2 2026 revenue to be nearly double that of H1 2026
Company forecasts FY 2026 revenue of about £47 mln, including c.£3 mln from CRS Berlin
Company expects positive adjusted EBITDA in H2 2026, but a low single-digit adjusted EBITDA loss for FY 2026
Result Drivers
CONTRACT TIMING - Co said H1 2026 revenue decline reflected second-half weighting and timing of contract delivery
ORDERBOOK GROWTH - Contracted orderbook more than doubled, driven by increased proposal volumes and new contract wins
REPEAT BUSINESS - About three-quarters of revenue generated from repeat customers, indicating revenue base stability
Company press release: ID:nRSO7133Ua
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 16.27 mln |
|
H1 Adjusted EBITDA |
| -GBP 4.45 mln |
|
H1 EBIT |
| -GBP 6.90 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for hVIVO PLC is GBp16.75, about 161.7% above its September 14 closing price of GBp6.40
Reuters Recommended Reads
Sept 14 - UK's GlobalData half-year revenue rises on acquisitions
Sept 14 - UK's Keystone Law interim revenue rises 22.5% yr/yr
Sept 14 - UK's Arcontech revenue drops 11.5% on customer loss
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)