Creo Medical's H125 trading update delivered early results from the company's streamlined focus on its core technology franchise and cost optimisation, following a strategic review in H224. Core technology revenues grew c 40% y-o-y to £2.2m (£1.6m in H124), driven by growing traction from Speedboat UltraSlim, with further support from the launches of SpydrBlade Flex and Speedboat Notch. Cost efficiency measures introduced in FY24, reflected in the leaner cost base, with the operating loss nearly halving to £6.9m (£12.1m in H124), substantially delivering on the £5m cost savings targeted for FY25. Management has maintained its guidance of 40-60% revenue growth in FY25, with performance to be H2 weighted. With its gross cash balance of £20.5m at end-H125, we continue to see the company funded to break even in 2028. We maintain our estimates pending release of the full H125 accounts in September.Den vollständigen Artikel lesen ...
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