Inspiration Healthcare Group (LSE:IHC) reported revenue for the year ended 31 January of £47.5m, up 24% from £38.3m a year earlier, led by higher SLE sales.
The global medical technology company delivered adjusted EBITDA of £2.8m (FY25: £0.2m), adjusted operating profit of £0.8m (FY25: loss £1.9m) and narrowed its operating loss to £0.1m (FY25: loss £14.7m) as gross margin rose to 43.7% (FY25: 42.8%).
SLE products accounted for £31.5m (+56%) including a £9.5m one-off export order, while Inspiration Healthcare distribution revenues fell 11% to £13.9m and Airon revenues declined 13% to £2.1m.
The Group converted to an operating cash inflow of £7.5m (FY25: outflow £1.5m), reduced inventory by 33% to £8.8m and cut net debt excluding IFRS16 leases by 39% to £5.1m at year end.
Post year-end the Board announced the transfer of the infusion distribution business to Micrel Medical Devices, reported net debt of £5.6m at 31 May and said current trading is in line with Board expectations for FY27.
"We are positioned to scale through our three core platforms and strengthen our global leadership in neonatal ventilation and related neonatal medtech solutions," Raffi Stepanian, Chief Executive Officer, said.
The Group said it now expects FDA filing for US market entry in late 2027, plans to launch a new range of SLE consumables in FY27 and remains confident in the FY28 outlook despite the planned exit from lower‑margin infusion distribution.
