CelLBxHealth (AIM:CLBX) said it is confident of delivering revenues for FY 2026 of at least £2.1 million, a 50% increase on FY 2025, based on contracted revenues and sales opportunities expected to convert shortly.
Trading in the first quarter reflected organisational restructuring under a revised strategy, with headcount reduced from 44 to 39 full-time employees and actions that, together with prior cuts, have reduced annual cash operating costs in 2026 by more than £6.6 million with a further £0.1 million of savings expected in Q2.
Cash at 31 March was £4.3 million, in line with expectations and reflecting one-off costs associated with the restructuring.
Management has appointed a new head of sales in the US and says the qualified sales pipeline continues to build, with a number of additional opportunities that could allow the company to increase its full-year revenue guidance if they convert.
The company said it is in advanced discussions with one of the largest private US healthcare providers to deploy the Parsortix® platform in two clinical studies and is in the final stages of a Master Services Agreement with a top-ten global pharmaceutical company, and it has completed a sub-lease for part of its US facility.
A further update will be provided alongside the company’s final results for FY 2025, which are due to be announced in the latter part of June.
