REG - RUA Life Sciences - Trading update

Rua Life SciencesAnnouncement

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RNS Number : 9986F  RUA Life Sciences PLC  04 November 2025

RUA Life Sciences plc

("RUA Life Sciences", the "Company" or the "Group")

 

Trading update for the 18-month period to 30 September 2025

 

 

RUA Life Sciences, the holding company of a group of medical device businesses
focused on the exploitation of the world's leading long-term implantable
biostable polymer (Elast-Eon(TM)), is pleased to announce a trading update for
the eighteen-month period ended 30 September 2025 ("FY 2025" or "the
Period"). This extended reporting period is a result of the previously
reported decision to extend the Company's financial year end from 31 March to
30 September.

Trading update

Over the period, the Group has made substantial progress in growing from a
Research and Development-focused business to a mature revenue-generating
business, as demonstrated by the very encouraging results below.

Revenue

The Group expects to report revenues for the 18-month period of £6.6 million
compared to the £2.2 million reported for 12 months to March 2024. Adjusting
for the extended reporting period, revenues were £4.4 million on a pro-rata
basis and £5.1 million for the final 12 months of the period.

 

This strong increase in revenue has been driven by a switch in focus from
R&D activities to commercial activity. The key contributors were:

·      Biomaterials royalties - increased from £0.5 million for the 12
months to March 2024 to £0.9 million for the 18 months to September 2025,
representing total growth of 80%.

·      UK-based Contract Manufacturing business grew revenues from £1.7
million in the 12 months to March 2024 to £3.5 million in the 18 months to
September 2025, representing total growth of 105%.

·      Abiss group, the French based medical device manufacturer
acquired by the Group in September 2024 generated revenues of £2.2 million in
the 12 months to September 2025.

 

Customer Concentration

 

The UK based Contract Manufacture business (UKCM) historically generated
around 95% of its revenue from one major customer. Substantial efforts have
been made to seek to grow and diversify the customer base by numbers and
value. In the final six months of the reporting period, customer concentration
was reduced with 54% from the largest customer, 33% from the new supply
contract announced in January this year and 13% from business development
activity that if projects are successful could drive the revenue growth of the
future.

 

 

Path to profitability

In 12 months to March 2024, the group sustained an operating loss of £1.9
million and EBITDA loss of £1.6m (adjusted for non-cash share based
payments). An objective of management at the start of the period was to get
the Group to breakeven and through to profitability in as short a period as
possible.

At the second Interim period for the 12 months to March 2025, adjusted EBITDA
of £0.5 million profit was reported after benefiting from the £0.9 million
bargain purchase gain on the Abiss acquisition. It is anticipated that when
taken for the full 18 month period to September 2025 the Group will continue
to be EBITDA positive.

 

 

Cash control

In the year to March 2024, cash utilisation within the Group amounted to £1.5
million, reflecting the EBITDA loss for that period. As previously reported,
cash utilisation for the 12 months to March 2025 was substantially reduced to
around £400k with period end cash balances of £3.5 million.  The Group
expects to report cash at 30 September 2025 of £3.2 million however the net
cash reduction is expected to be represented by increased working capital
requirements as a result of the growth in scale of the Group.

 

Reporting timetable

Following the change of accounting reference date announced on 30 October
2024,  publication of full audited accounts for the 18-month period
ending 30 September 2025 is expected by end of January 2026.

Bill Brown, CEO of RUA Life Sciences, stated: "The growth achieved by RUA
over the past 18 months has been exceptional demonstrated both by the revenues
reported and by the ever growing opportunities with existing and new
customers. This has been a true team effort and I am very grateful to everyone
within the RUA Group for their contribution."

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the UK version of the EU
Market Abuse Regulation (2014/596), which is part of UK law by virtue of
the European Union (Withdrawal) Act 2018, as amended and supplemented from
time to time.

 

For further information contact:

 

RUA Life
Sciences

Bill Brown, Chief
Executive
Tel: +44 (0)1294 317073

Lachlan Smith, Group Chief Financial Officer

 

 

Cavendish Capital Markets Limited

(Nominated Adviser and Broker)
 
              Tel: +44 (0)20 7220 0500

Giles Balleny/Isaac Hooper (Corporate
Finance)

Harriet Ward (Broking)

Nigel Birks (Healthcare Specialist Sales)

Michael Johnson (Sales)

 

About RUA Life Sciences

RUA Life Sciences plc is the ultimate parent company of the Group, whose
principal activities comprise exploiting the value of its IP & know-how,
medical device contract manufacturing and development of medical devices.

 

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