Abingdon Health (AIM:ABDX) expects total revenue for the year ended 30 June to rise 31% to £11.3m, up from £8.6m in FY25.
The York-based developer and manufacturer of rapid diagnostic tests said second-half revenue grew 63% compared to the first half.
Contract Development revenues drove the second-half acceleration, though £0.5m of reader unit sales originally scheduled for the period shifted to August at the customer's request.
The group reached adjusted EBITDA profitability in the second half, a measure defined as operating profit before depreciation, amortisation, share-based payment charges and non-recurring items.
Cash stood at £2.9m at the year end, up from £1.9m a year earlier, after continued investment in Abingdon Analytical and manufacturing capacity at Abingdon Health USA.
"We are delighted to announce revenue growth of over 30% and a move into adjusted EBITDA profitability in the second half of the year," said Executive Chairman Dr Chris Hand, adding that CDMO contracts signed in the prior year "provide a strong foundation for significant revenue growth in FY27."
The board said it is confident of further growth in FY27, citing significant programmes already underway, with a fuller update due alongside FY26 results, expected in early October.
News Intelligence what this means for the company
Abingdon Health reported 31% revenue growth to £11.3m for FY26 and achieved adjusted EBITDA profitability in the second half, driven by acceleration in Contract Development revenues. The company's cash position improved to £2.9m despite continued investment in manufacturing and its analytical division, positioning it for stated growth in FY27 on the back of CDMO contracts signed in the prior year.
The shift to EBITDA profitability in H2 and 31% revenue growth demonstrate operational traction, though the company remains cash-constrained at £2.9m—equivalent to roughly one quarter of annualized FY26 revenue—leaving limited buffer for execution risk on FY27 growth plans that depend on CDMO contract ramp.
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