RUA Life Sciences (AIM:RUA), the holding company of a group of medical device businesses built around its long-term implantable polymer Elast-Eon, posted a post-tax loss of £183,000 for the first half of its financial year, against a loss of £641,000 in the same period a year earlier.
Revenue rose 6% to £2.75 million from £2.59 million, while adjusted EBITDA swung to a positive £76,000 from a loss of £227,000 in the prior half, with gross margin edging up to 74.9% from 73.5%.
The Biomaterials licensing business drove the majority of revenue growth, with its contribution rising from £349,000 to £490,000, partly reflecting historical royalty underpayments identified following a licensee audit.
Medical devices and components revenue was broadly flat at £2.25 million, as 32% growth in the UK business was largely offset by a slowdown at Abiss France, where a major customer ran down excess inventory.
Cash fell to £2.37 million at 31 March from £3.25 million at 30 September 2025, with the company attributing the reduction to a working capital timing effect and guiding that cash should recover by the full-year end.
"Having succeeded in our objective of doubling revenue over the past two years, we now have the opportunity to further double revenue over the next two years," Chairman Geoff Berg said.
The board expects the combined Biomaterials and Medical Devices businesses to cover central costs and move the group into net profitability in the second half of the current financial year.
