Eden Research (LSE:EDEN), the sustainable biopesticide developer, said it expects revenue and profit before tax for the 15 months to 31 March to be broadly in line with market expectations.
The company expects revenue of c. £4.9m for the 15 months to 31 March and a PBT loss of c. £2.9m, against consensus forecasts it understands of £5m revenue and a £2.8m PBT loss.
EBITDA (before share-based payments) is reported at a loss of £1.7m, higher than expected, primarily because c. £0.5m of capital expenditure has been allocated to administrative expenses.
Operational and commercial progress since January 2025 includes US state approval for Mevalone in California, a French label extension for Mevalone, a third temporary authorisation for Ecovelex in Italy, an exclusive distribution deal with Syngenta for ornamentals and a new distribution partner in Kenya, measures the company says will expand addressable markets.
The group signed a data access agreement with TerpeneTech that carries a fee of £0.4m and completed fundraisings that raised approximately £10.7m at 4.0p per share through a mix of firm and conditional placings and a retail offer admitted in February and April.
Eden flagged near-term milestones including commercial arrangements for its insecticide in H1 2026, EU authorisation for Ecovelex in 2026, Mevalone approval in Colombia in 2026 and commercial deals for Fungicide 2 in H2 2026/H1 2027.
"We expect to be broadly in line with market expectations for revenue and PBT for the period to 31 March," Sean Smith, Chief Executive Officer, said.
