Creo Medical Group (AIM:CREO) narrowed and lifted its full-year revenue growth guidance for FY26 to between 50% and 60% versus FY25, tightening the floor from a prior range of 40% to 60%, after first-quarter revenue grew approximately 60% year-on-year.
The AIM-listed developer of surgical devices said the first-quarter result reflected continued customer adoption, growing procedural volumes and conversion of its commercial pipeline across key markets.
The company also noted a recently completed placing that raised gross proceeds of £5.5 million, with directors subscribing for £2.15 million of that total. Alongside the placing, the Development Bank of Wales conditionally subscribed for £2 million of convertible loan notes, completing simultaneously with the fundraise.
Creo said proceeds would support inventory build, customer roll-out and commercial expansion at a point of accelerating demand.
On the cost side, the group said the sale and outsourcing of its manufacturing operations, announced on 16 April, is expected to reduce annual operating costs by more than £1.0 million, a further 15% reduction from the FY25 closing run rate on a pro forma basis.
The proposed sale of its remaining 49% interest in Creo Medical Europe, subject to completion, is also expected to contribute to the group's path toward sustainable cash flow generation and profitability.
