Shorters Try Harder!17 Sep 2025 11:41
March 25: Key Financial Highlights
· On track to meet, or potentially exceed, target of 20% average quarter-to-quarter growth
· Forward guidance on expected revenue remains: $3.2m in FY25, $8.5m in FY26 and $17.5m in FY27
· Revenues of $1.3m
– Continued quarterly sales growth moving into Q3 FY25
– With full Medicare insurance payment beginning in July 2024, commercial insurance reimbursed testing revenue increased 28% over the H1 FY24, and now accounts for 80% of total testing revenues.
– The total number of commercial payers increased by 51% over H1 FY24.
– Additional integrated testing service with ACPNY, a large doctor practice in New York
· Significant progress to reduce overall cash burn rate to c.£560,000 ($710,000) per month by end of FY FY25 as stated in the Company’s FY24 results announcement
– Disciplined cost controls have led to a 56.5% reduction in administrative costs to $8.0m (HY 2024: $18.4m)
· Cash and cash equivalents as at 31 December 2024 of $9.2m (30 June 2024: $4.7m)
Strong progress against commercial strategy
· Approximately 850 individual doctors have now ordered over 15,000 kidneyintelX.dkd tests to date
· Revenue and ordering doctor base has further diversified with full roll-out of ACPNY care network New York
· Time from submitted bill for test to payment received has been reduced by 65% during H1 FY25
· Operational improvements have also resulted in a 50% reduction in laboratory test turn-around time
· Increasing depth of pharmaceutical collaborations applying KidneyIntelX technology in precision medicine therapeutic development
· Series of data release scheduled for calendar year 2025
· Progress with discussions for:
– additional care provider implementations
– additional insurance payors for coverage contracts and supported deployment of testing services
– collaborations with Pharmaceutical and Clinical Research to incorporate kidneyintelX technology in their clinical development and commercial programmes
– third-parties to generate value from our intellectual property assets
James McCullough, CEO of Renalytix commented: ” With Medicare coverage and additional insurance contracts in place this fiscal year, we are now seeing a significantly higher portion of our total revenue coming from commercially insured testing versus clinical study work. We expect this trend to continue during the next reporting period. Further, we expect to expand distribution of kidneyintelX.dkd with initiatives from both new insurance payors, care networks and hospital systems this year.”
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