UK's Niox 2025 revenue rises 17% on demand for pharma-sponsored clinical trials

Niox

24/03/2026 07:09

Overview

UK medical device maker's 2025 revenue rose 17% year-on-year, driven by research and clinical growth

Adjusted EBITDA increased 21% as operational leverage improved

Company recommends higher final dividend after strong cash generation

Outlook

Company says 2026 financial year has started well

Niox expects sustained demand for FeNO testing in clinical business

Company plans to return at least 80% of free cash flow to shareholders over medium term

Result Drivers

RESEARCH TRIALS - Marked rise in pharmaceutical-sponsored clinical trials, especially in COPD, drove 77% research revenue growth

CLINICAL ADOPTION - 7% growth in clinical revenue supported by increased FeNO test adoption and 7% expansion of installed base

GROSS MARGIN MIX - Gross margin declined to 69% from 72%, primarily due to a higher mix of device-heavy research sales

Company press release: ID:nRSX7665Xa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Adjusted EBITDA
GBP 16.70 mln
FY Adjusted EBITDA Margin
34.00%
FY EBIT
GBP 10.70 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the pharmaceuticals peer group is "buy"

Wall Street's median 12-month price target for Niox Group PLC is GBp82.00, about 50.7% above its March 23 closing price of GBp54.40

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 22 three months ago

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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.)